Brink's License Suspension Holds Up $200 M Diamond Shipment
Post Date: 29 Nov 2010 Viewed: 573
A shipment of diamonds valued at $200 million has been delayed at Belgium's Zaventem Airport following the suspension of Brink's Diamonds and Jewellery Services cash-in-transit license, news outlets report.
The Antwerp World Diamond Centre (AWDC) responded to the situation in an open letter in which it warned that the license suspension would have "severe financial consequences" for Antwerp's diamond industry.
According to the AWDC, blocked shipments of rough diamonds "paralyzes" the entire diamond supply chain.
Brink's said it plans to continue its Belgium operations through its Global Services unit. Meanwhile, transport companies have begun shipping diamonds via other airports.