TERRY HUTSON
IN TERMS of an agreement reached with owners Thor Dahl Shipping AS of Norway, CP Ships, (Canadian Pacific Limited) has acquired full ownership of Christensen Canadian African Line (CCAL).
In making this announcement Frank Halliwell, CEO of CP subsidiary Americana Ships under which CCAL now falls, said that CCAL would continue to operate its 21-day multi-purpose service between Montreal and South Africa.
Halliwell said the transaction represented a strengthening of Americana's position in the South Africa trade, following the termination of Lykes Lines' relationship with SafBank and MSC. Our intention is to improve the service of CCAL and also maintain the brand.
The sale, which includes the CCAL brand and three multi purpose ro-ro ships, remains subject to due diligence which is expected to be completed by the end of April.
CP Ships is the container shipping business of Canadian Pacific Ltd, and includes Canada Maritime, Cast, Contship Containerlines, ANZDL, Montreal Gateway Terminals and Americana Ships. Americana Ships includes Lykes Lines which serves the US East Coast and South Africa, and TMM Lines.
¥CCAL general manager in South Africa Mike Renard told FTW that it was business as usual for the line in South Africa. The intention was to continue to run it as a separate company, particularly in view of the value of the CCAL name in the market, he said.
Further information is likely to emerge when the deal is completed at the end of this month.
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