MARAD APPROVES TRANSFER OF SEA-LAND SHIPS TO MAERSK

MARAD APPROVES TRANSFER OF SEA-LAND SHIPS TO MAERSK

   The U.S. Maritime Management has licensed the move of agreements
protecting the operation of 15 containerships from Sea-Land Provider Inc. to a newly shaped
corporate established by means of Maersk Traces to function the vessels with U.S. crews below the U.S.
flag.
   MarAd’s approval paves the way in which for the 2 firms to wrap up the
$800-million sale of Sea-Land’s world liner services and products to Maersk, introduced closing
summer time. Finalization of the deal is predicted quickly and may just come as early as as of late.
    Below MarAd’s approval order, U.S. Send Control, an impartial
corporate established by means of Maersk, will time constitution the 15 vessels to Maersk. Along with
the 15 vessels coated by means of the Maritime Safety Program, U.S. Send Control will function
4 different ships now operated by means of Sea-Land. The ships will proceed to take part within the
Voluntary Intermodal Sealift Settlement program.
    Maersk already has 4 U.S. flag ships enrolled in MarAd’s Maritime
Safety Program.
   “Maersk has strongly dedicated its complete world intermodal community to
the U.S. to be used in instances of nationwide emergency,” mentioned Maritime
Administrator Clyde Hart Jr.
   The proposed transactions have been “in moderation reviewed” by means of MarAd, Hart
mentioned, and it used to be decided that the preparations didn’t put across regulate over the vessels
to a international entity.