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.