March 6 - The China Navigation Company (CNCo) has completed the purchase of Pacifica Shipping from New Zealand's Skeggs Group of companies.
HLPFI reported on December 17, 2013 that CNCo had signed a conditional sale and purchase agreement to acquire Pacifica from Skeggs. (http://www.heavyliftpfi.com/news/cnco-set-to-acquire-pacifica.html)
CNCo, which is the shipping arm of the Swire Group and trades as Swire Shipping and Swire Bulk in New Zealand, operates a global network of multipurpose liner services for the transportation of containerised, breakbulk, heavy lift and project cargoes.
Pacifica will remain an independent organisation with its operations headquartered in Auckland, and the company's ceo, Steve Chapman, has said that the management and all the sea and shore based staff are committed to working closely with CNCo to develop coastal shipping as a key ingredient of the transport and logistics mix in New Zealand.
The acquisition will allow Pacifica to continue to invest in and contribute to the sustainable development of New Zealand's maritime sectors, said the company.