A company voluntary arrangement (CVA) at Elite Transport Services has been approved by 99% of its creditors. A creditors’ meeting took place on Friday 8 February and a spokesman for the container haulier said that under the terms of the agreed deal creditors will receive 37 pence in the pound over a five-year repayment term. Last week Motortransport.co.uk revealed that the north-west haulier had filed a proposal for a CVA with Manchester County Court on 23 January. It is understood […]
The introduction of peak-time charges as part of the Port of Felixstowe’s vehicle booking system (VBS) has been described as unacceptable by container hauliers. The port has started charging hauliers £1.50 per booking for access between 12pm and 5pm but has suspended proposals to introduce the charge between 5am and 7am. In a letter to operators, Port of Felixstowe commercial director Paul Wallace said: “For all UK major ports there is a significant daily cost to support the yard resource […]
Circle Express has continued to trade successfully under a Company Voluntary Arrangement (CVA), achieving its second consecutive profitable year.
Pressure on rates has led to Felixstowe-based container specialist Macintyre Transport reporting a 9% fall in pre-tax profit despite a near 11% rise in turnover. Turnover in the year to 30 April 2012 rose from £19.3m to £21.4m due to organic growth, said chairman Harvey Macintyre; pre-tax profit, however, fell from £895,000 to £813,000. Much of the profit slide was attributable to stagnant rates, said Macintyre. “We have been very proactive in taking costs out of the business since 2008, […]