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CARRIERS JOIN TO OFFER CARIBBEAN-MEDITERRANEAN SERVICE

CARRIERS JOIN TO OFFER CARIBBEAN-MEDITERRANEAN SERVICE

   Maersk Sealand, Nordana Line, CGM Antilles Guyanes and Compagnie Maritime Marfret have entered into a vessel sharing agreement to operate a new weekly direct service between Puerto Rico, the Virgin Islands, other points in the Caribbean and Mediterranean Europe.

   The agreement calls for the deployment of a maximum of 12 ships having a capacity of up to approximately 2,500 TEUs.

   Initially, the carriers will deploy six vessels. Three will be provided by Maersk Sealand and one each by Nordana, CGM Antilles and Compagnie Maritime Marfret.

   The initial slot allocations on the six vessels will be approximately 31.8 percent for Maersk Sealand and 22.7 percent each for Noranda, CGM and Compagnie Maritime Marfret.