CP Ships reflags vessel for MSP, opens Washington office
CP Ships, a major container shipping company, has shifted its 3,200-TEU 'CP Yucatan' to the U.S. flag and renamed the vessel 'CP Yosemite,' for an American national park.
The ship is one of five vessels in the transatlantic trade that CP Ships is committing to the U.S. government's Maritime Security Program (MSP). The remaining four ships will be renamed 'CP Everglades,' 'CP Denali,' 'CP Shenandoah,' and 'CP Yellowstone.'
Under a new federal contract, CP Ships will receive $145 million in government subsidy over the next 10 years to offset the cost of U.S.-flag operation of the five vessels.
CP Ships has opened a new office in Washington, D.C., at 1101 Pennsylvania Ave., to insure 'more efficient management of its U.S.-flag business,' the company said in a statement.