Senator Lines has announced ceasing business effective end of February 2009. The decision taken by the shareholders and the board of the company is motivated by the financial and economic crisis and as a consequence thereof, reduced volumes together with overcapacity and an extreme unhealthy competition, especially on the east west routes.

According to the board of Senator Lines, there are no positive signals to be foreseen for 2009 and there are not even any freight rate improvements visible on the long term.

Ms Antje Stephan manager public relations at the Senator Lines GmbH head office in Bremen said that that the company has not stopped accepting cargo and will continue operating by the end of February 2009. She emphasized that Senator Lines will recognize every order, deliver all containers to destination, and fulfill all other obligation it has undertaken.

Senator Lines is engaged in the East West trade, the two main routes being Asia, Mediterranean and Asia Northern Europe.

(Sourced from seanews.info)