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

Ports

Antwerp Port CEO Scoops Baron Title

After 25 years as CEO of Antwerp Port Authority, Eddy Bruyninckx has been raised to the nobility by H.M. the king of Belgium with the rank of baron. In Belgium

Libya's PFG to Lift Terminal Blockades

Petroleum Facilities Guard has blocked terminals for months. Ras Lanuf, Es Sider terminals damaged by fighting. Libya's Petroleum Facilities Guard (PFG) will

Asia-N.Europe Box Rates Fall 8.1 pct

Freight rates for transporting containers from ports in Asia to Northern Europe fell 8.1 percent to $713 per 20-foot container (TEU) in the week ended on Friday,

 
 
Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators 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: 0.0657 sec (15 req/sec)