MV Danio Undergoes Much Needed Repairs
The MV Danio has certainly had some adventures this year. In March she hit both the BBC and the ITV British news channels when she went aground just off the Farne Islands, an environmentally sensitive area just off the coast of Northumberland. Bad weather made attempts to free the ship impossible for a tense ten days. The Farne Islands is home to puffins and seals, and the M/V Danio was carrying 27 tons of diesel fuel and 1,500 tons of wood. Finally, on March 28th, she was pulled off the rocks by the tugboat Lomax.
CP Ships To Acquire Christensen Canadian African Line
CP Ships has reached agreement with Thor Dahl Shipping AS of Norway to acquire Christensen Canadian African Line (CCAL). The transaction is expected to be completed by the end of April. The acquisition includes the CCAL brand and three Astrakhan-class ships, designed to carry containers, breakbulk and Ro-Ro cargo. CCAL, which will operate as part of the CP Ships subsidiary, Americana Ships, offers a 21-day multi-purpose service between Montreal and South Africa under the CCAL brand.
Marine Finance Briefs
Slovenian shipping firm Intereuropa and port operator Luka Koper canceled a planned merger because the government was demanding the right to veto any management decisions in the new firm. The two companies had planned to merge on July 1. The state owns 51 percent of Luka, while Intereuropa is privately owned. The state's equity in the new company would have been 35.7 percent. "There will be no merger under such conditions where the government would have the right to veto practically every management decision," Radovan Vrabec, Intereuropa's deputy chief executive, said. He said the two companies would be ready to continue merger talks if the government eased its demands. Vrabec said the two firms would not suffer short-term damage due to the failure of the merger.
