Custodia owners forms new company
SHIPPING: The management of Custodia shipping, Christian Bonfils and Mads Boye Petersen have, in a strategic cooperation with the Americam dry cargo operator Phoenix Bulk Carriers, formed a new operator company by the name Nordic Bulk Carriers.
Custodia Shipping has together with the rest of the business had some very difficult months. This is not only due to the cargo rates dropping in the autumn of 2008 but very much also caused by dishonoured contracts.
"Obviously, a young company is very vulnerable to so great market movements and to the dishonouring of contracts. You cannot survive that for a long period of time. But through hard work and dialogue with our creditors we have found a solution, which ensures that all obligations of Custodia Shipping Ltd. will be kept. So the establishment of Nordic Bulk Carriers Ltd. should be seen as a sign that we still see great market opportunities. This is emphasised by our new partnership with Phoenix Bulk Carriers that has the financial and strategic strength needed for this to succeed", says partner Mads Boye Petersen.
The other partner Christian Bonfils also stresses this.
"It is clear that the hectic period we have just experienced has taught us a lot. It has been incredibly hard - especially for our employees who all have felt the insecurity of the future. That is why we are particularly happy to be able to continue with Nordic Bulk Carriers Ltd. - while Custodia Shipping Ltd. avoid bankruptcy and without us letting our loyal partners down", says Christian Bonfils.
"We will now look ahead and instead focus on the things we are the very best at. With the establishment of Nordic Bulk Carriers we have the very best conditions for using the synergy effects of the strategic partnership", ends Mads Boye Petersen.
Nordic Bulk Carriers Ltd. was officially established on Friday the 20th of March 2009.
Source: maritimedanmark.dk
