Swire Shipping New Zealand Commences Operations

01 September 2009 Press Release

Swire Shipping New Zealand Commences Operations

Following the shareholding change in Tasman Orient Line in April, Swire Shipping New Zealand Limited is formally commencing operations. With effect from 1st September the recently established entity will assume the trade management responsibilities of Tasman Orient Line and Swire Shipping’s Trans- Tasman Service as well as the liner shipping agency activities of Quadrant Pacific Agencies. The corporate functions of TOL will transfer to Swire Shipping in Australia. The shareholding and business of the non-liner shipping activities of the Quadrant Pacific Limited group of companies is unaffected by this change.

Having completed the management and staff appointments for 80 positions almost exclusively from within the three organizations, Swire Shipping New Zealand (wholly-owned by The China Navigation Co Ltd) will be head-quartered in Auckland and maintain offices in all key ports of call, namely Tauranga, Napier, Wellington, Nelson, Christchurch and Timaru.

General Manager Randy Selvaratnam said, “Tasman Orient Line and Swire Shipping through their own established presence and through their agency representation by Quadrant Pacific Agencies have built strong foundations in New Zealand and throughout the Asia-Pacific region over many years. With the integration of the three entities into one organization we will continue to provide customers with our established range of services through a single representation. We are maintaining our network of offices around the country to ensure we continue to respond to the local requirements of our customers effectively.”

Swire Shipping New Zealand will play a dual role. As a trade management office it will be responsible for all commercial and operational activities of the TOL East/South East Asia service and the TOL North Asia service as well as Swire Shipping’s Trans-Tasman service; that means key decision making authority for these trades will continue to be based in New Zealand. As an agency company the new entity will also represent Swire Shipping’s West Coast North America, Pacific Islands and Papua New Guinea services, in total offering the established multipurpose liner shipping links of 40 direct ports in 18 countries for containerised, breakbulk, project and heavy lift cargoes.

Although Tasman Orient Line’s business is being integrated into Swire Shipping after becoming a whollyowned subsidiary of CNCo, the trade name will be retained for the foreseeable future. Ulrich Stelling, Swire Shipping chief executive said, “Tasman Orient has worked hard over the years to establish a strong brand that stands for reliability, quality, responsiveness, long-term customer relationships and superior service integrity. Swire Shipping New Zealand is committed to ensure continuity in delivering these qualities.” Commenting on the wider perspective he added, “The integration of Tasman Orient and Quadrant Pacific Agencies coincides with a broader strategic realignment of the Swire Shipping business. Following the closure of our two round-the-world services and organizational restructuring, we are firmly consolidating our activities within our traditional, core Asia-Pacific trading region. Whilst many of the markets in the region are still comparatively weak, the completion of our service, tonnage and organisational consolidation means that we are now well positioned for the future.”

ENDS

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