Author Topic: CP Ships  (Read 13034 times)

Offline Phil English

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CP Ships
« on: August 03, 2005, 12:17:32 PM »
CP Ships announced in April that they were dropping their brand names (ANZDL, Canada Maritime, Contship, Cast, TMM, Lykes Lines) in favour of a single identity - CP Ships. Consequently, all ships in the group are being renamed with CP as the prefix (e.g. Lykes Voyager becomes CP Voyager).

However, in an additional twist this week, CP Ships announced thet they were "in discussions regarding a possible transaction", meaning that they are the subject of a possible takeover. Rumour mills put France's CMA-CGM and CSCL of China top of the list.

Hope this is of interest

 :-)

Phil

Offline Matt Ruscher

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Re: CP Ships
« Reply #1 on: August 04, 2005, 09:39:06 PM »
very interesting, thanks for sharing, that would be quite the takeover if they took either of those two companies
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Re: CP Ships
« Reply #2 on: August 21, 2005, 04:44:10 AM »
Any more news or updates on this story / rumour from the mill?.
Very interested.
ContFan. 8-)

Offline www.vessels-in-france.net

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Re: CP Ships
« Reply #3 on: August 21, 2005, 08:40:56 AM »
CMA CGM is about to take over DELMAS (as well as OT Africa Line & Setramar & 50% of SUDCARGOS all by DELMAS Group) and in the same time is in the run for CP Ships buying.
Financial aspects become crucial to stick to the Top 10 of the global container carriers.
Hope the growth of the Container trades will remain above the 5% a year.... If not ! ? :-(
AP Moller, CMA CGM and some other could face huge problems with their debts and their 8 000 TEU container vessels !
Cross your fingers if you want to have your cameras happy in the coming decade ! !
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Offline Andrew McAlpine

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Re: CP Ships
« Reply #4 on: August 21, 2005, 09:47:32 AM »
it is also rumoured that MSC is interested & may put in a bigger bid than CMA CGM for CP ships so it can close the gap on the ever expanding maersk line, interesting times ahead prehaps................

Offline Holger Jaschob

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Re: CP Ships
« Reply #5 on: August 21, 2005, 10:25:22 AM »
Yesterday our local newspaper reported that Hapag-Lloyd is interested to take over CP ships for about 1,5 Billion Euros. Hapag-Lloyd is part of Europe's biggest travel group TUI. With this transaction the company would be no. 5 in the world. But also other companies like CMA CGM and China Shipping Group are interested. This will be forcing up the prices.

Regards,
Holger

Offline www.vessels-in-france.net

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Re: CP Ships
« Reply #6 on: August 21, 2005, 06:18:13 PM »
Hello,

I would be surprised that MSC enters the fashion of the take over. Usually they prefer internal growth.
But anyway that's a nice rumour to push higher the offers.
In DELMAS' s case MOL was said interested in but in fact not really as CMA CGM.
Rumours are useful in that kind of 'negociation'. But providing written offers with financial details and expanding plan for the next 3 years is another party where players are less numerous.
Wait and see.
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Offline Marc Piché

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Re: CP Ships
« Reply #7 on: August 21, 2005, 07:41:18 PM »
Just heard today over the news that CP was acquired by Hapag-Lloyd for just over 2 billion $US.

Marc
......

Offline Mats

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Re: CP Ships
« Reply #8 on: August 22, 2005, 08:06:35 AM »
Yes, the board of directors of CP Ships has decided to accept the offer from Hapag-Lloyd's parent, the German TUI group, for USD 2 Bn in cash. They have recommended to the shareholders that they should sell their shares, and most likely this is what will happen.

The merged group will become the 5th largest container line in the world, after:

1: Maersk line (incorporating PONL)
2: MSC
3: Evergreen
4: CMA CGM

Read CP Ships' press release on www.cpships.com.

Find the latest statistics on the major container lines at http://www.brs-paris.com/research/index.html (press "Liner Shipping Newsletter", then "read").

Best regards
Mats
Oslo

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Re: CP Ships
« Reply #9 on: August 23, 2005, 02:17:07 AM »
Very useful information on the CP situation.
Who is next has to be the next question?.
If the rumour mill is correct and CMA CGM and COSCO were in the hunt, they may be smarting a little at not making the cut.
May be will move onto the next target on the list, so as to maintain or move up the rankings ladder.
Interesting times.
Is it good for the shipping industry?.
ContFan.

Offline Mats

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Re: CP Ships
« Reply #10 on: August 23, 2005, 09:34:46 AM »
Well, I suppose what happens is generally good for shipping and its customers because transport becomes more efficient and (presumably) cheaper. It is sad for Netherlands and Canada to be losing their major container lines, though.

Part of the background for what is happening is that the EU has proposed to change its regulations so that in effect, liner conferences will no longer be allowed. In case someone is not familiar with liner conferences, they are cooperation agreements where container lines cooperate on price and run services on routes together.

EU and national competition laws generally forbids competitors from cooperating on prices, but until now, parts of shipping have been exempted. This will soon change and that meanst shipping lines need to be bigger in order to run the various routes themselves.

The Chinese lines CSCL and COSCO are roumoured to be on the lookout for possible takeover candidates, but it is difficult to see which companies are available to take over. MSC is highly succesful and privately owned, and thus not likely to be a takeover candidate. The same goes for CMA CGM. The Chinese certainly are not likely to be selling their lines. Taiwan's Evergreen may be a candidate because it is not growing fast enough to keep up with the other lines, but this company also seems unlikely.

One thing is certain, though: We are heading for interesting times in liner shipping.

Best regards
Mats
Oslo

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Re: CP Ships
« Reply #11 on: August 24, 2005, 02:32:13 AM »
Great precis of the situation past,present and future.
And very much appreciated.
Agree interesting times to come.
After CP rebranded its ships names to CP....., will they now change yet again to Hapag Lloyd names, maybe ......Express or Cap ....?.
Cheers,
ContFan.

Offline Phil English

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Re: CP Ships
« Reply #12 on: August 24, 2005, 08:00:49 AM »
Cap is the name prefix for Hamburg-Sud, which is owned by Germany's Oetker family. It has nothing to do with Hapag-Lloyd or the TUI group.

Phil

Offline www.vessels-in-france.net

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Re: CP Ships
« Reply #13 on: August 24, 2005, 08:12:30 AM »
Good morning,

I fully agree with Mats, but on the paper only.
If conferences to become sooner or later illegal, why only in the maritime world ?  What about air conferences ?
Do you think that with the last happenings, 4 crashes with hundreds of dead people, public opinion is ready to accept such decision ?
Even if the loss of one vessel per day in the world is a stat largely ignored by ordinary mortals, do we really need a leaking tanker on our beaches in Portugal or in Brittany to understand definitely some elementary rules ?
-   Competition is not guaranteed when 3 operators have secured 30% of market share. Then it becomes an oligopoly, not anymore a market. Ciments Lafarge have caught  the highest fine of the European Commission history for that reason ; S.F.R. / Bouygues Telecom and France Telecom (Orange) are about to get the same end of this year / beginning of the next one for the same agreement on the French market for mobile communications
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Offline Mats

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Re: CP Ships
« Reply #14 on: August 24, 2005, 11:54:43 AM »
Dear Walter,

Thank you for your comments. I agree with you that oligopoly is a bad thing and obviously big players can more easily abuse their position than smaller ones.

I will only add one thing to what I wrote earlier, and that is that the competition authorities have two main tools in their toolbox.

One is to stop competitors from cooperating (there are certain exceptions that allow limited cooperation if it benefits the customers).

The other is to stop large market players from abusing their dominant position. Thus, they will not approve a merger if it will give the merged company a too big share in a market. A fresh example is that they only approved AP M

 

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