CP Ships 3Q Results
CP Ships Limited today announced unaudited operating income for third quarter 2004 of $41 million, up from restated $38 million operating income in third quarter 2003. Net income available to common shareholders was $31 million compared to restated $27 million in the same period 2003. Basic earnings per share was $0.34 compared with restated $0.30 in third quarter 2003. EBITDA(A) was $72 million compared to restated $67 million in third quarter 2003. Free cash flow (B) was $95 million for third quarter 2004 and $130 million for January through September 2004. Volume of 578,000 teu was another quarterly record and was up 4% from third quarter last year, driven by growth in the TransAtlantic and Asia.
MacAndrews to Deliver Afghan Cargo
Middle East or the India sub-continent and trade with Afghanistan. efficient cargo gateway for Afghanistan. make regular, scheduled calls at Pakistan's main port. in Kabul, Jalalabad and Khandahar over Port Qasim. dependable cargo movement services to the region. to accommodate aid, security forces and commercial cargoes. formalities with Pakistani customs). Khandahar will cross the border at Chaman. Afghanistan, major cargo flows into the country are evident. efficient gateway for international trade. Persian Gulf through Pakistani ports. solutions to its customers for over 30 years. and India / Pakistan buying slots from the EPIC Consortium. where it operates the 3600 teu Indamex Colorado.
930-TEU Ship Joins Indian Ocean Service
MacAndrews is set to add the 930 TEU Cape Bonavista to its Swahili Express Service which provides a fixed-day fortnightly service between the Indian sub-continent, the Middle East/Gulf and East Africa. Serving alongside CMA CGM Karibu, Cape Bonavista replaces Hanseduo in the service which calls at Karachi, Nhava Sheva, Jebel Ali, Dar es Salaam, Mombasa and Karachi with a 28-day round voyage time. With 80 reefer plugs, Cape Bonavista will support MacAndrews' increasing commitment to carrying fresh produce in refrigerated units. "Creating a homogenous vessel fleet for our Swahili Express service has been a priority. Cape Bonavista is a faster ship that will help us ensure schedule integrity on the service,” said Jim Robb, General Manager, Indian Trades.
