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 fallout from the bankruptcy of Hanjin Shipping is likely to be far reaching with hauliers operating out of Felixstowe potentially facing writing off large debts.
Christmas may be cancelled for some container operators enduring flat volumes instead of the usual autumn surge as retail customers remain cautious about stocking up for the gift-giving season. Roadways Container Logistics MD Nick Matthews is not expecting a reversal in the coming months. “Christ-mas in the container industry comes early in the year; typically September, October and November. September has not seen a significant increase on prior months and some of the largest shipping lines are not predicting much […]
Felixstowe-based haulier James Kemball’s investment in additional fleet appears to have paid off with a 9% rise in turnover and 32% jump in pre-tax profit.