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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Louis Dreyfus, Amaggi Hire HSBC to Sell Terminal Stake

Agricultural commodity traders Louis Dreyfus Co B.V. and Amaggi Group have hired HSBC Holdings Plc to sell part or the entire 25 percent stake they hold in a terminal at the Brazilian port of Itaqui,

GPA Will Continue Weighing Containers at No Cost to Shippers

The U.S. Coast Guard announced last week that state-calibrated scales already in use at the Port of Savannah meet a new requirement of the international Safety of Life at Sea (SOLAS) Convention.

Maersk Returns to Liverpool

Maersk has been welcomed to the Port of Liverpool with a formal reception for its feeder vessel Antwerp. The event on April 27 was attended by Seago and Maersk representatives along with customers,

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Pipelines Port Authority Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0629 sec (16 req/sec)