Custodia struggles with great client losses
SHIPPING: The small dry cargo shipping company Custodia, which previous employees of the shipping company Atlas created two years ago, is severely overtaken by client losses. The shipping company does not believe that they will be next in the line of dry cargo shipping companies to succumb, but will not deny the risk of bankruptcy.
"I cannot say that there is no chance of bankruptcy. We are working in this market and all shipping companies are working hard, because it is incredibly hard. We have a very small fleet left and have cut to the bone wherever possible", says Christian Bonfils, leader and co-owner of Custodia.
A year ago the shipping company had 25 vessels at their disposal, but has since then cut down considerably and the company is currently sailing with only five ships.
The problem for Custodia is, as it is for many other dry cargo companies, that highly pressed clients are trying to escape settled contracts. At Custodia, a Spanish client has backed out of a settled contract, and the shipping company is now in trial to get the more than 30 million DKK that the client owes them.
"We have a trial in Spain, but will survive even though we do not receive the money", says Christian Bonfils to the newspaper.
Another client has recently backed out of a contract as well.
If necessary, the owners are ready to invest additional capital in the shipping company.
"We are not facing an investment, and I am actually proud that we still exist considering that large competitors have succumbed. But we are willing to pay the money if we have to", says Bonfils.
Source: The daily Borsen
