GRIMALDI TAKES OVER G&C LINES SERVICES

GRIMALDI TAKES OVER G&C LINES SERVICES

   Grimaldi, the Italian shipping group, has taken over the share of
Antwerp-based Cobelfret in G&C Lines, the roll-on/roll-off and general cargo partnership, effective Jan. 1.
   Following the termination of the joint agreement, Grimaldi now operates the former G&C Lines services in the Europe/South America and Europe/West
Africa trades under the new trade name "Grimaldi Lines."
   Cobelfret said that no money was transferred as part of Grimaldi’s absorption of its share in the venture. Cobelfret said that it will concentrate on shortsea shipping.
   Grimaldi has taken over two vessels previously under charter to Cobelfret.
   Grimaldi U.K., previously known as Associates Oceanic Agencies, said that it is responsible for managing the former G&C Lines services.