P&O Ports Enters

Monday, January 20, 2003
P&O Ports has signed an agreement to acquire two businesses from BCR Marine in Canada for CDN$105 million. The assets concerned are the CASCO container terminal (Centerm) in Vancouver and Canadian Stevedoring, which offers cargo handling services in ports throughout British Columbia. It is P&O Ports' first venture into the Canadian market and its first acquisition on the West Coast of North America. Completion of the transaction is anticipated in the first quarter of 2003. Vancouver is one of the fastest growing container ports on the West Coast of North America and has established a strong competitive position. It benefits from good intermodal links into both Canada and the US. Historic volume growth rates have exceeded 10 percent per annum since 1991 and in 2002, the annual growth rate was 27 percent. CASCO is one of three container terminals in Vancouver and in 2002 handled over 280,000 TEU. Capacity at the terminal is 300,000 TEU which can be expanded to 600,000 TEU in the medium term. The current lease with the Vancouver Port Authority expires in 2029.
Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Los Angeles Container Volumes Drop

November container volumes down 3 percent at Port of Los Angeles; year-to-date volumes up 6.5 percent   Overall containerized cargo volumes in November 2014 have

Transpacific Box Shippers Plan Freight Rate Rise

A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Jan. 15, corresponding to an increase of 26.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1220 sec (8 req/sec)