Articles > Newspapers > International Newspapers, Major Markets > The Press articles > October 2009

Article: Ports cuddle up in a storm; Ports stronger as one; Ports edge closer in friendly merger talks

Article from:
The Press
Article date:
October 7, 2009
Author:
Copyright

Lyttelton and Otago ports are burying the parochial hatchet and examining a historic union. The Press deputy business editor ALAN WOOD reports.

.

Lyttelton and Otago's ports are in the midst of "quiet" discussions that could lead to a marriage, but any such arrangement will first face stiff competition issues and then a complex consummation.

Lyttelton Port of Christchurch (LPC) and Port Otago are still steeped in a history which gave these early transport hubs power as the only entry and exit point for early settlers and their goods.

Now they are part of a wider industry in turmoil, with shipping lines estimated to have lost up to US$25 billion so far this calendar year. Consolidation ...

Read all of this article with a FREE trial

Related newspaper, magazine, and journal articles:

Article: Port Otago in no hurry; Talks with Lyttelton may ...
The Press;  April 18, 2006 ;     700+ words ... ... threatened to squeeze Port Otago's investment ... Gilks said Port Otago saw its shareholding ... by the "mega shipping lines" and globalised ... fewer and larger shipping lines and globalised ... included talking to Port Otago. "At some stage ...

Article: Port Otago exited LPC merger talks
The Press;  March 30, 2006 ;     700+ words ... ... Lyttelton Port of Christchurch (LPC) and Port Otago were in merger talks about six months ago until Port Otago walked out, it has been revealed. Christchurch ... whole company out were stymied after Port Otago grabbed a 10.1% blocking stake earlier ...

Article: Port Otago regrets dropping port talks
The Press;  April 1, 2006 ;     641 words ...Port Otago regrets walking away from earlier joint ... launched in February by Christchurch city. Port Otago yesterday ramped up its stake in LPC ... secured a 10.1 per cent blocking stake, Port Otago chairman John Gilks confirmed. Port ...

Article: No deals on table with Port Otago
The Press;  March 17, 2006 ;     637 words ... ... says it has no intention of offering Port Otago a partner-type position within its ... possibility of a "three- way deal" involving Port Otago, Austin said there was no provision ... Holdings representative had met with Port Otago earlier this week, but this had been ...

Article: Port Otago motives queried before bid
The Press;  March 11, 2006 ;     700+ words ... ... of Christchurch's (LPC) shares. Port Otago pulled off a lightning raid on Thursday ... 31% of the port it does not own. But Port Otago trumped that offer by agreeing a deal ... Otago Regional Council owns 100% of Port Otago, and chairman Stephen Cairns said the ...

Article: Port Otago gears up for new P&O Nedlloyd ...
The Press;  November 4, 2002 ;     455 words ...Port Otago will spend $3.1 million on new straddle ... carriers, for delivery by April, he said. Port Otago last took delivery of a $1.3m Kelmar ... begin within a week, and delivery of Port Otago's new $6 million tug Otago should ...

Article: PPCS issues veiled threat over new Port Otago ...
The Press;  August 10, 2007 ;     429 words ... ... ports if it cannot reach agreement with Port Otago about new charges. PPCS chief executive Keith Cooper said Port Otago had recently set up a new charging ... expressing only conditional support for Port Otago's plan to develop a deep-water ...

Article: Port Otago up
The Press;  March 12, 1998 ;     230 words ...Port Otago has posted a $2.7 million pre-tax profit in the six months to December 31, a 34 per cent increase on last year's $2.01m. The port will pay a $700,000 dividend to its owner, the Otago Regional Council.--NZPA Supplied by New Zealand Press Association

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!

Find articles, research, and archives