Nordana Line News

The U.S. Coast Guard (USCG) Port State Control (PSC) updated its list of vessels and ship management companies that are prohibited from carrying U.S. government impelled cargos. Americas Marine Management Services, Inc. Caribbean Ship Services, Inc. Elicla Maritime Advisor & Broker Inc. Enterprises Shipping & Trading S.A. Fusion Holdings International S.A. Held Bereederungs Gmbh & Co. Jutha Maritime Public Co. Ltd. Labris Co Ltd. Norbulk Shipping UK, Ltd. Nordana Line (Singapore) Inc. Nordica Schifahrts GmbH & Co. Northway Marine Corp. Sea Trader International Co., Inc. Seatrade Groningen B.V. V Ships (UK) Ltd. Valencia Shipping Corp. Wavecrest Shipmanagement, Inc.

CP Ships, one of the world's top ten container shipping companies, has reached agreement with Dannebrog of Denmark to acquire Caribbean/Latin American market specialist Nordana Line. The acquisition includes Nordana's business and services and its 10,000 teu container fleet. roll-on/roll-off ships owned by Dannebrog and the sub-charter of three chartered-in ships. commented Chief Executive Officer Ray Miles. Nordana operates three services with a total annual volume of about 50,000 teu. and the Mediterranean. A third service operates between the US/Central America and North Coast South America in co-operation already with the CP Ships brands, Lykes Lines and TMM Lines. CP Ships first entered Latin American markets with its 1997 acquisition of Contship Containerlines. Latin America.

CP Ships and Dannebrog have decided not to proceed with the planned acquisition of Nordana Line by CP Ships. In the month since the acquisition plan was announced on November 14, further discussions revealed a number of issues that prevented the transaction from being completed to both parties' satisfaction. CP Ships remains committed to its strategy of making selective acquisitions to reinforce its position in its principal regional markets.