China Navigation to Acquire Pacifica Shipping

The China Navigation Company (CNCo), the deep sea shipping arm of the multinational Swire Group, has announced today the signing of a conditional sale and purchase agreement to acquire the New Zealand-based coastal ship operator and domestic cargo carrier, Pacifica Shipping.

Pacifica currently operates two New Zealand flagged coastal container ships, and is a member of the New Zealand Shipping Federation Inc.

Brodie Stevens, Country Manager CNCo (New Zealand) comments, “We are optimistic that the purchase will be completed in the coming weeks. We will be increasing our investment in New Zealand’s shipping and logistics industry. We look forward to expanding and improving the valuable domestic transport solutions which Pacifica currently provides and we are confident that the operational and environmental benefits of coastal shipping will continue to play a significant role in the sustainability of New Zealand’s transport infrastructure.”

Based on the sale proceeding, Pacifica will remain an independent operation headquartered in Auckland. Steve Chapman, CEO Pacifica, confirmed it will be business as usual for Pacifica and the existing management team has CNCo’s full support in continuing to provide the highest levels of service delivery which our customers have come to expect over the last 28 years.

“We have found a traditional shipowner and operator who respects the history and recognise the significant contribution which Pacifica has made to the New Zealand transport industry. We are confident of CNCo’s commitment to the sale process and the fact that they are willing to invest in the next stage of Pacifica’s growth,” said David Skeggs, Managing Director of the Skeggs Group.

CNCo’s vision is to be the leading provider of sustainable shipping solutions and its customers’ partner of choice.