Gemini Cooperation takes effect
NewsAlliance shakeup moves forward with green light for Gemini Cooperation from FMC.
HPH moves into New Zealand
Hutchison Port Holdings (HPH) has made its first foray into Australasia with an agreement to acquire a 49.9% stake in Lyttelton Port Company (LPC) and a 50.1% stake in a newly formed company – Lyttelton Port of Christchurch – to operate the port.
Lyttelton is the largest port in New Zealand’s South Island, handling 208,000TEU, 2.1 Mt of coal, 1.1 Mt of bulk fuel and around 1 Mt of general cargo in the financial year ending June 30 2005. It is listed on the New Zealand stock exchange with 69% of the shares held by Christchurch City Council’s asset company, Christchurch City Holdings (CCHL).
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This complete item is approximately 450 words in length, and appeared in the February 2006 issue of WorldCargo News, on page 6. To access this issue download the PDF here.
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