Senator Lines strikes sail
A prominent member is about to quit the international liner shipping business. The German shipping company Senator Lines (Bremen) ceases its activity by the end of February 2009 on command of the South Korean majority shareholder Hanjin Shipping. This was announced officially on February 4. The major part of the liner services operated by Senator Lines is at their end. A small part of the services are planned to become integrated into the global schedule of Hanjin Shipping. With this drastic step the Hanjing Shipping Management responds to the crisis within the global shipping industry. According to the release the liner shipping market was currently marked by an extremely fierce competition and excess capacities on east-west services. Senator Lines was established in 1987 in Bremen. Hanjin Shipping has been holding about 80 per cent of the share capital since 1997. Bremer Investitionsgesellschaft and the F. Laeisz Group are each holding about 10 per cent of the company’s shares. Quelle: Österreichische Verkehrszeitung |