Inchcape Acquires Full Ownership of ISS-McKay
Inchcape Shipping Services has acquired McKay Shipping Limited's share of ISS-McKay Limited, giving it full full ownership ownership of the joint venture that was set up in 2008to conduct core port agency business in New Zealand.
ISS-McKay provides full coverage to the North and South Island of New Zealand through its network of eight port offices and 41 local staff, with market shares in cruise, dry bulk, tanker, liner and ship manager markets.
As part of the joint venture, Inchcape Shipping Services established itself as the majority shareholder, with local management supporting the operational and commercial management of the business in New Zealand.
Effective November 2, 2023, Inchcape Shipping Services has acquired the balance of shares and moved towards full ownership of the New Zealand organization. Local management and staff are transitioning into the new organization.
“This strategic expansion highlights Inchcape Shipping Services' commitment to innovation and growth, while also reinforcing its position as global leaders in the shipping industry. We are excited to further strengthen our operations in New Zealand and continue to build on the strong foundations established in New Zealand for our customers, industry partners and local team,” said David Pratt, Inchcape Shipping Services, regional CEO of Asia Pacific.
Inchcape New Zealand provides maritime services including port agency, husbandry, crew logistics services, ship chandling, bunker fuel supply arrangement, liner agency, logistics services to oil and gas, construction, dredging, cable-laying, cruise tourism and other sectors, military support services and maritime consultancy.