Chiquita Shipping Continues Despite Bankruptcy

Tuesday, June 30, 2009

Chiquita Brands International, Inc. (NYSE:CQB) announced that it does not expect the bankruptcy filing by Eastwind Maritime Inc. and certain of its affiliates to adversely affect service to Chiquita's customers and the delivery of its bananas and other fresh fruit products. All of the 12 oceangoing ships that the company sold in 2007 remain under long-term charter to Chiquita, including the four ships sold to Eastwind.

"We are taking appropriate steps to protect Chiquita's interests under these long-term charters," said Waheed Zaman, senior vice president, product supply organization. "While Chiquita's shipping operations represent only a comparatively small part of Eastwind's business, we have been monitoring developments closely and are working with the other parties involved in the chartering relationships to help assure ongoing and timely service to our customers."


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