American Feeder Lines can't find cargo, suspends sole Boston-Halifax loop
NEW YORK-based American Feeder Lines (AFL) has suspended its nine-month feeder service running between Boston, Halifax, and Portland, Maine and the carrier is now undertaking a restructuring process.
"Even one year into the service, we failed to generate sufficient cargo from the carriers and did not get the support of the trade," said CEO Tobias Koenig, reported American Shipper.
"The service has been suspended and we have been in talks with investors to continue. But unfortunately, these talks have died and AFL has therefore taken the decision to cease trading," said Mr Keonig, who started the service last July with a 700-TEU chartered vessel AFL New England.
"There is an iron curtain around the Jones Act industry and all participants are too scared of the outside world," he said.
"We have figured out how much money you need to spent to start a Jones Act pilot service, which we have tried to get approved, but I think that you can simply double or even triple the costs, after we have made our experience in the northeast. And I don't think that I will be there to spend that kind of money. My missionary efforts have come to an end," Mr Keonig said.
DATE:2012.4.28
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