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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Sadif Analytics Prime
Provider: Sadif Analytics Prime

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Rederi Transatlantic AB Enters into Partnership with AtoB@C Shipping AB; Company Outsources Commercial Activities of Short Sea Bulk Division and Plans to Cut Jobs

Friday, 23 Aug 2013 02:30am EDT 

Rederi Transatlantic AB announced that it has entered into an agreement with AtoB@C Shipping AB where the Company effectively outsources all the commercial activities of its Short Sea Bulk division, starting September 1, 2013. Additionally, the agreement sets the terms for the chartering out all of the Company‚Äôs short sea bulk vessels to AtoB@C. The Company will continue to have ownership of its current short sea bulk fleet and also continue the current charters of short sea bulk vessels. AtoB@C will charter in these ships from the Company. As a result of this partnership, the Company will make reductions in staffing in order to reflect the decreased commercial workload. This will affect approximately 20 people. Negotiations with the appropriate unions have been initiated. 

Company Quote

0.11 +2.45%
11:29am EST