Bunker costs force Europe West Indies Lines to bankruptcy
17 July 2008
Halifax – Another shipping company has ceased operations in the Port of Halifax. Europe West Indies Lines (EWL) has gone into bankruptcy and stopped operating. The company blamed its financial difficulties on fuel costs. In the past two to three years, those costs have nearly tripled. The company has found a trustee, and there is a potential buyer, but EWL has no plans to restructure. It’s estimated that EWL shipped as many as 10,000 TEUs a year through Halifax.
Halifax – Another shipping company has ceased operations in the Port of Halifax. Europe West Indies Lines (EWL) has gone into bankruptcy and stopped operating. The company blamed its financial difficulties on fuel costs. In the past two to three years, those costs have nearly tripled. The company has found a trustee, and there is a potential buyer, but EWL has no plans to restructure. It’s estimated that EWL shipped as many as 10,000 TEUs a year through Halifax.