THREE REEFER LINES FORM NEW MARKETING UNIT

THREE REEFER LINES FORM NEW MARKETING UNIT    LauritzenCool, Eastwind Transport and Armada Shipping have formed ReeferShip Ltd., a marketing company to develop business for refrigerated vessels controlled by ECo Shipping, Arctic Reefers and Armada Shipping.
   ReeferShip, owned equally by its three principals, will have a combined fleet of 50 ships with a total capacity of 20 million cubic feet.
   Arctic Reefers and ECo Shipping will retain their present form as sources for, respectively, large and smaller-sized refrigerated vessels.
   Under the arrangement, Eastwind is giving some ships to Arctic, and LauritzenCool is shifting vessels to ECo’s management.
   Eastwind has taken a substantial shareholding in Arctic, while LauritzenCool has increased its ownership interest in ECo. ReeferShip vessels from all three participating fleets will fill the tonnage requirements of Eastwind Transport and LauritzenCool.
   ReeferShip will operate out of New York and Copenhagen. Armada’s reefer operations will relocate to Copenhagen.
   ReeferShip will also have access to all of Eastwind’s and LauritzenCool’s marketing and agency offices worldwide.