China Navigation to Buy Pacifca Shipping (New Zealand)

MarineLink.com
Tuesday, December 17, 2013

The China Navigation Company (CNCo), the deep sea shipping arm of the multinational Swire Group, has signed a conditional sale and purchase agreement to acquire Pacifica Shipping (Pacifica) from the Skeggs Group of companies in New Zealand.

CNCo has been a long term participant in the New Zealand’s maritime and transport industry. The first Swire vessel called to New Zealand 130 years ago. Today Swire explains that it has extensive interests in agencies, stevedoring, logistics and multipurpose liner shipping services.

Swire Shipping, CNCo’s liner shipping arm, currently operates five independent multi-purpose liner services from New Zealand to Asia, Australia, North America and the Pacific Islands.

Brodie Stevens, Country Manager CNCo (New Zealand) said “We are optimistic that the purchase will be completed in the coming weeks. We will be increasing our investment in New Zealand’s shipping and logistics industry. We look forward to expanding and improving the valuable domestic transport solutions which Pacifica currently provides and we are confident that the operational and environmental benefits of coastal shipping will continue to play a significant role in the sustainability of New Zealand’s transport infrastructure.”

Providing the deal goes through, Pacifica will remain an independent operation headquartered in Auckland. Steve Chapman, CEO Pacifica, confirmed it will be business as usual for Pacifica and the existing management team has CNCo’s full support in continuing to provide the highest levels of service delivery.

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Enterprise Contracts to Boost U.S. Crude Exports

Enterprise bumps up exports through annual contracts; signs 2015 contracts with PDS, Vitol; seeks one more term buyer. U.S. exports of condensate have been given

Tighter Supertanker Market Impacts Asian Fuel Supplies

The window to sell Western fuel oil to Asia is starting to close as demand for a limited fleet of supertankers to store cheap crude pushes freight rates to multi-month highs,

Oil Tankers are Front Line of Libya's Struggles

Crew members killed in tanker attack this month; West fears worsening violence could lead to civil war. Oil shippers face higher costs and the possible loss of insurance cover on Libyan voyages,

Finance

Enterprise Contracts to Boost U.S. Crude Exports

Enterprise bumps up exports through annual contracts; signs 2015 contracts with PDS, Vitol; seeks one more term buyer. U.S. exports of condensate have been given

Tighter Supertanker Market Impacts Asian Fuel Supplies

The window to sell Western fuel oil to Asia is starting to close as demand for a limited fleet of supertankers to store cheap crude pushes freight rates to multi-month highs,

Oil Tankers are Front Line of Libya's Struggles

Crew members killed in tanker attack this month; West fears worsening violence could lead to civil war. Oil shippers face higher costs and the possible loss of insurance cover on Libyan voyages,

Container Ships

COSCO Piraeus Pier III Inaugurated

The Inauguration of the Expansion of Pier III of COSCO Piraeus Container Terminal(PCT) was held yesterday. Premier Li Keqiang of China sent a congratulatory message, which was read by Mr.

Nordbank Eyes Bad Shipping Debt Deals

The world’s largest financier of ships HSH Nordbank AG wants to move forward in 2015 with the removal of bad shipping loans that racked up during a seven-year glut in the global container fleet,

Maersk Line Gets new AEO number

Maersk Line has been re-certified as an Authorised Economic Operator (AEO) with the AEO-F, the highest achievable accreditation in the European Union programme.

Mergers & Acquisitions

Sino-Global to Acquire Tanker

Sino-Global Shipping America, Ltd. a shipping agency, logistics and ship management services company, today announced that it has entered into a Memorandum of Understanding (the "MOU"),

Coldharbour Marine's New UK Office

Coldharbour Marine, long recognised for the design, manufacture and supply of inert gas and fluid handling equipment vessels (FPSOs) has moved into a new 25k sq.

CEVA Opens 4th Chicago Office

CEVA Logistics, one of the world's leading supply chain management companies, has expanded its market presence in Chicago with the opening of a fourth facility.

 
 
Maritime Contracts Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1390 sec (7 req/sec)