ACFS Port Logistics chief executive Arthur Tzaneros has praised the efforts of staff in minimising disruption following the company entering administration last week.
In a letter this week to customers and partners, Mr Tzaneros said operations were running “as normal across the entirety of the business”.
“I’m pleased to be able to confirm that fears of disruption to our business have been proven inaccurate, largely thanks to our amazing team, and the confidence of our customers and partners,” he said.
“There were some initial disruptions in the first two days of the administration, while the administrators established alternate accounts with terminals, and we resolved some issues with third party empty parks.
“Terminals were resolved by COB Friday 7 August and empty parks were resolved on the second trading business day following commencement of administration (Monday 10 August).”
While Mr Tzaneros has expressed confidence, receivers have previously indicated they would likely seek to sell the business and its assets.
A winding-up hearing in the Federal Court is scheduled for Friday 21 August, an action initiated by the Australian Taxation Office (ATO) and joined by several other creditors.
Mr Tzaneros said while their operations “continue to run smoothly” he was aware “the industry is watching this administration process closely”.
“I expect to be spending much of the coming weeks speaking with customers, partners and industry representatives as the administration continues to what I envisage to be the minimum period whilst the business is recapitalised,” he said.
He said the administrators had confirmed several arrangements for customers and partners regarding cargo and equipment:
If a customer requires its goods held at one of our facilities to be relocated, ACFS Port Logistics is to cover the cost and arrangements for relocation of their goods to their nominated facility.
If a customer prefers to engage a third party to complete a relocation task, ACFS will reimburse or credit the cost of that relocation.
Customers are to be credited the cost of any lifts or associated fees charged for relocation of goods under these arrangements, up to a certain amount.
He said business cash flows had been affected due to increased disbursement costs, significantly increased industrial leasing costs, and material overdue debts to ACFS Australia beyond agreed credit terms.
Real estate business ESR-REIT, meanwhile, reported to the Singapore Securities Exchange on 7 August that ACFS Port Logistics, the tenant of three properties in Australia, was “currently in arrears in relation to rental payments”.
“As at 31 July 2026, ACFS is in arrears of approximately A$12.2 million,” ESR stated.
“Breach notices have been issued to ACFS demanding payment of the outstanding arrears in relation to its leases across the three properties.
“The drawdown and offset of the bank guarantees held by ESR-REIT will reduce the outstanding arrears to approximately A$1.5 million.”
In an additional statement this week, Mr Tzaneros said ACFS had “a long-standing and strong relationship with ESR-REIT”.
“As of [Thursday] morning, we have secured assurances from ESR-REIT that ACFS businesses operations relating to their sites will not be impeded during the administration process,” he said. “We continue to work closely with the receivers and managers on the recapitalisation process, which the Tzaneros family remains committed to completing as soon as possible.”