CP Kanha named in Nhava Sheva Ceremony
30 Ottobre 2005 - 6:29PM
PR Newswire (US)
First of nine 4250 teu newbuilds enters service in US East
Coast-West Asia service GATWICK, UK, Oct. 30 /PRNewswire-FirstCall/
-- CP Ships Limited today welcomed into service the first of nine
4250 teu containerships ordered two years ago. The ship was
formally named CP Kanha after one of India's best-known national
parks by Mrs Poonam Puri, wife of Vaishnav Puri, who heads CP
Ships' commercial activities in India. The naming ceremony took
place at the Jawaharlal Nehru Container Terminal in Nhava Sheva. CP
Kanha operates between US East Coast and West Asia and will be
joined by sister ship CP Corbett, also named after a well-known
Indian national park, when it is delivered in January 2006. CP
Ships is also considering deploying a third sister ship in this
service during second quarter 2006. "With the arrival of CP Kanha,
we are demonstrating to our customers our firm commitment to
service excellence, including faster transit times, increased
capacity to accommodate volume growth and greater service
efficiency overall," commented Juan Manuel Gonzalez, Executive Vice
President Commercial. CP Kanha is the first of nine ships being
long-term chartered from Seaspan Container Lines. The remaining
eight, including CP Corbett, are currently under construction at
Samsung Heavy Industries in Korea. They are on schedule for
delivery between first quarter 2006 and second quarter 2007. CP
Ships already has 11 similarly sized ships in its fleet, bringing
the total to 21 by second quarter 2007. CP Ships operates its
direct weekly US East Coast-West Asia service as part of a vessel
sharing agreement. The port rotation is New York, Norfolk,
Charleston, Port Said, Suez Canal, Colombo, Nhava Sheva, Suez
Canal, New York. ABOUT CP SHIPS One of the world's leading
container shipping companies, CP Ships provides international
container transportation services in four key regional markets:
TransAtlantic, Australasia, Latin America and Asia. Within these
markets CP Ships operates 38 services in 22 trade lanes. At 30th
June 2005, its vessel fleet was 82 ships and its container fleet
441,000 teu. Volume in 2004 was 2.3 million teu, more than 80% of
which was North American exports or imports. CP Ships also owns
Montreal Gateway Terminals, which operates one of the largest
marine container terminal facilities in Canada. CP Ships is listed
on the Toronto and New York stock exchanges under the symbol TEU.
For further information visit http://www.cpships.com/.
FORWARD-LOOKING INFORMATION This press release contains certain
forward-looking information and statements within the meaning of
applicable securities laws relating, but not limited, to
operations, anticipated or prospective financial performance,
results of operations, business prospects and strategies of TUI and
CP Ships. Forward-looking information typically contains statements
with words such as "consider", "anticipate", "believe", "expect",
"plan", "intend", "likely" or similar words suggesting future
outcomes or statements regarding an outlook on future changes in
volumes, freight rates, costs, achievable cost savings, the
estimated amounts and timing of capital expenditures, anticipated
future debt levels and incentive fees or revenue, or other
expectations, beliefs, plans, objectives, assumptions, intentions
or statements about future events or performance. These statements
are subject to known and unknown risks, uncertainties and other
factors that could cause actual results to differ materially from
those suggested by the forward-looking statements. Although each of
TUI and CP Ships believes it has a reasonable basis for making the
forecasts or projections included herein, you are cautioned not to
place undue reliance on such forward-looking information. By its
nature, the forward-looking information involves numerous
assumptions, inherent risks and uncertainties, both general and
specific that contributes to the possibility that the predictions,
forecasts and other forward-looking statements will not occur.
These factors include, but are not limited to, changes in business
strategies; general global, political and economic and business
conditions, including the length and severity of any economic
slowdown in the countries and regions where the companies operate,
including seasonality, particularly in the United States, Canada,
Latin America, Australasia, Asia and Europe; the effects of
competition and pricing pressures; changes in freight rates;
changes in operational costs; industry over-capacity; changes in
demand for container shipping; congestion; availability and cost of
chartered ships; changes in laws and regulations, including tax,
environmental, employment, competition, anti-terrorism and trade
laws; difficulties in achieving cost savings; currency exposures
and exchange rate fluctuations, fuel price and interest rate
fluctuations; changes in access to capital markets and other
sources of financing; various events which could disrupt
operations, including war, acts of terrorism, severe weather
conditions and external labour unrest, all of which may be beyond
TUI or CP Ship's insurance coverages; compliance with security
measures by governmental and industry trade practice groups, the
outcome of civil litigation related to CP Ship's restatement of
financial results and the impact of any resulting legal judgments,
settlements and expenses, and the companies' anticipation of and
success in managing the risks associated with the foregoing. The
above list of important factors affecting forward-looking
information is not exhaustive, and reference should be had to the
other risks discussed in filings with securities regulators. TUI
and CP Ships undertake no obligation, except as required by law, to
update publicly or otherwise revise any forward- looking
information, whether as a result of new information, future events
or otherwise, or the above list of factors affecting this
information. DATASOURCE: CP Ships CONTACT: Investors: Jeremy Lee,
VP Investor Relations and Public Affairs, Telephone: (514)
934-5254; Media: Elizabeth Canna, VP Group Communications,
Telephone: +44 (0)1293 861 921 or +41 (0)79 691 3764
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