Europe West Indies Lines files for bankruptcy

Rotterdam-based Europe West-Indi Lijnen (Europe West Indies Lines) has filed for bankruptcy after failing with various takeover negotiations, reports Dutch shipping analysts Dynamar.

The report cited mounting debts, the fall of the U.S. dollar, spiraling fuel costs and the end of an agreement with banana company Fyffes as the reasons behind the demise of the niche Europe/Caribbean operator.

Dynamar noted that Rotterdam Container Port Holding, affiliated with Matrans Holding, only recently acquired full control of EWL's parent company Wethold. 

Source: American Shipper