Delphis-owned Hamburg feeder operator Team Lines is being wound down.
It will cease trading on 11 February, it said in a letter to customers signed by Delphis' Alexander Saverys and Team managing director Benjamin Weinacht.
They blamed deteriorating market conditions in northern Europe in recent years as well as ongoing consolidation for making a continuation of the business "unsustainable".
All commitments will be honoured and the wind-down will be conducted in an orderly way, they added.
