• ITVI.USA
    15,411.130
    -4.180
    0%
  • OTLT.USA
    2.740
    -0.021
    -0.8%
  • OTRI.USA
    21.110
    0.000
    0%
  • OTVI.USA
    15,375.870
    -11.650
    -0.1%
  • TSTOPVRPM.ATLPHL
    3.300
    0.000
    0%
  • TSTOPVRPM.CHIATL
    3.140
    0.190
    6.4%
  • TSTOPVRPM.DALLAX
    1.590
    0.150
    10.4%
  • TSTOPVRPM.LAXDAL
    3.330
    0.020
    0.6%
  • TSTOPVRPM.PHLCHI
    2.170
    0.020
    0.9%
  • TSTOPVRPM.LAXSEA
    4.080
    0.130
    3.3%
  • WAIT.USA
    125.000
    -1.000
    -0.8%
  • ITVI.USA
    15,411.130
    -4.180
    0%
  • OTLT.USA
    2.740
    -0.021
    -0.8%
  • OTRI.USA
    21.110
    0.000
    0%
  • OTVI.USA
    15,375.870
    -11.650
    -0.1%
  • TSTOPVRPM.ATLPHL
    3.300
    0.000
    0%
  • TSTOPVRPM.CHIATL
    3.140
    0.190
    6.4%
  • TSTOPVRPM.DALLAX
    1.590
    0.150
    10.4%
  • TSTOPVRPM.LAXDAL
    3.330
    0.020
    0.6%
  • TSTOPVRPM.PHLCHI
    2.170
    0.020
    0.9%
  • TSTOPVRPM.LAXSEA
    4.080
    0.130
    3.3%
  • WAIT.USA
    125.000
    -1.000
    -0.8%
American Shipper

P&O NEDLLOYD ACQUIRES HARRISON LINE’S CONTAINER SHIPPING BUSINESS

P&O NEDLLOYD ACQUIRES HARRISON LINE’S CONTAINER SHIPPING BUSINESS

   Anglo-Dutch mega-carrier P&O Nedlloyd is acquiring the liner shipping activities of U.K.-based carrier Harrison Line from The Charente Steam-Ship Co. Ltd.

   Harrison Line runs container services in the Europe/Caribbean and Europe/West Coast of South America trades.

   The takeover is expected to be completed in early October.

   The acquisition will strengthen P&O Nedlloyd’s presence in the Caribbean and South American trades, and will enable the company to improve its scale in Latin America and reduce costs, P&O Nedlloyd said.

'    For Charente Steam-Ship Co. Ltd., the transaction represents an exit from liner shipping activities as a carrier. However, the group will retain its activities as a non-vessel-operating common carrier and in warehousing, transport, air freight and distribution.

   “Liner Shipping is increasingly an environment suited to very large companies and our withdrawal from this sector reflects a desire to concentrate on other maritime and logistics activities better suited to the company’s size and structure,” said Michael Seaford, chairman of Harrison.

   In the last few years, P&O Nedlloyd had bought the South African liner shipping activities of Harrison and its interests in the Europe/southern Africa and Europe/East Africa container trades.

We are glad you’re enjoying the content

Sign up for a free FreightWaves account today for unlimited access to all of our latest content

By signing in for the first time, I give consent for FreightWaves to send me event updates and news. I can unsubscribe from these emails at any time. For more information please see our Privacy Policy.