Chiquita Brands International News

Dedicated to creating more sustainable shipping practices, the world renowned banana producer is further bolstering its fleet or Star Cool Integrated containers and adding more controlled atmosphere systems to deliver premium banana quality. The new batch of 2500 Star Cool Integrated containers from Maersk Container Industry (MCI) will be deployed in Chiquita Brands International’s (Chiquita) shipping services. Of the batch, 1000 integrated containers are equipped with MCI’s market-leading Star Cool CA (Controlled Atmosphere) system, which effectively preserves the freshness of bananas during transit. By controlling the ripening, Star…

The Port of New Orleans achieved record container volumes in 2014 thanks in part to the addition of new shipping services and an uptick in the national economy contributed. According to year-end totals, 490,526 twenty-foot-equivalent units moved through the Port’s Napoleon Avenue Container Terminal during the 12 months, an 8.8 percent increase over the 2013 total of 451,057. “Strong export markets, primarily for chemical and agriculture products, together with new inbound customers such as Chiquita contributed to record container volumes,” said Port President and CEO Gary LaGrange.

Today, Gov. Bobby Jindal joined Chiquita Brands International Inc. Senior Vice President Mario Pacheco to announce the company will relocate its shipping operations from the Port of Gulfport in Mississippi to the Port of New Orleans. Chiquita plans to ship 60,000 to 78,000 twenty-foot-equivalent units, or TEUs, per year at the Port of New Orleans, representing a roughly 15 percent increase in current container volumes there. Chiquita’s shipping operations will return to New Orleans after a nearly 40-year hiatus.

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.

Chiquita Brands International, Inc. has completed the previously announced sale of its 12 refrigerated cargo vessels for $227m. The cash proceeds from the transaction are being used to repay approximately $170m of debt, and the remainder will be retained for general corporate purposes, including growth investments or future debt repayments. The ships have been chartered back from an alliance formed by Eastwind Maritime Inc. and NYKLauritzenCool AB. The parties also entered a long-term strategic agreement in which the alliance will serve as Chiquita's preferred supplier in ocean shipping to and from Europe and North America.

The United Seamen's Service (USS) 2007 Admiral of the Ocean Sea Awards will be presented to James S. Andrasick, President and CEO of Matson Navigation Company, Inc., Morten Arntzen, President and CEO of Overseas Shipholding Group, Inc. and John F. Reinhart, President and CEO of Maersk Line, Limited. The honors will officially be awarded at a gala dinner and dance to be held at the Sheraton New York Hotel and Towers, New York City, on November 2, 2007. John Bowers, Chairman of the USS AOTOS Committee and President of the International Longshoremen's Association, AFL-CIO, made the announcements. sector of our industry," said Mr. Bowers. services, tanker shipping and U.S. Honolulu-based Alexander & Baldwin, Inc. International Flag and U.S.

Banana producer Chiquita Brands International will sell 12 refrigerated cargo ships for $227mto an alliance of Eastwind Maritime Inc. and NYKLauritzenCool AB. The deal will allow Chiquita to lease back 11 of the ships for at least 7 years, with an option for 5 more years and the other ship for 3 years with an option for 2 more years. The sale includes eight reefer ships and four container ships. Source: Reuters