Team Lines has announced that its shareholders of the company have decided to discontinue all business activities w.e.f. February 11, 2019.
‘The decision has been made on the basis of the deteriorating market conditions in Northern Europe over the recent years combined with the ongoing consolidation process in the maritime sector which makes a continuation of Team Lines’ activities unsustainable’, the company’s statement goes.
‘All obligations and commitments which have been undertaken by Team Lines will be honoured, and the wind down will happen in an orderly way’.
Team Lines will not accept any bookings for shipments with arrival dates beyond February 11, 2019.