Inchcape completes New Zealand agency takeover, expands into France
United Kingdom-based marine services provider Inchcape Shipping Services (ISS) has completed the takeover of Adsteam Agencies (NZ) Ltd. and renamed the New Zealand company as Inchcape Shipping Services NZ Ltd.
Also, as part of the acquisition, 51 percent of shares in the joint venture, Adsteam Agencies (Tauranga) Ltd., have been secured.
The deal follows the 100 percent buyout by ISS in June of Australian agency house, Oceania Maritime Services Pty Ltd. (OMS) that included the business interests of Adsteam Agencies in New Zealand, Australia and other regions.
ISS will also from Oct. 15 provide full agency services in southern French Mediterranean ports and shortly after to all French-speaking Mediterranean ports.
To achieve that, ISS is opening an office in Martigues, located between the ports of Marseilles and Fos. The office will be run by Bruno Scardigli, ISS business development manager, and will handle all kinds of port calls from tanker, dry-bulk and general cargo to naval, container and cruise ships.
'The region's ports handle heavy volumes of traffic and there are a number of significant port development projects underway,” said Henri Versluys, ISS regional managing director for Europe and Africa.
ISS is owned by Dubai state-owned investment company Istithmar PJSC.