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CP Ships Archive

• 29 Dec 2005 CP Ships CEO Ray Miles and CFO Ian Webber to Step Down As Executive Management is Restructured

  Following the completion of the acquisition by TUI AG of CP Ships and its de-listing on 20th December from the Toronto and New York stock exchanges, CEO Ray Miles will step down from his position on 31st December 2005. CFO Ian Webber will leave CP Ships at the end of January 2006.

• 27 Dec 2005 CP Ships Finalizes Plans For New Australasian Services

  CP Ships has finalized plans for the most comprehensive and competitive choice of services available linking Australia and New Zealand with Europe, South East Asia, West Asia and North America.

• 27 Dec 2005 CP Ships finalizes plans for new Australasian services

  CP Ships has finalized plans for the most comprehensive and competitive choice of services available linking Australia and New Zealand with Europe, South East Asia, West Asia and North America.

• 21 Dec 2005 CP Ships Completes Amalgamation Resulting in TUI Owning 100% of CP Ships

  CP Ships Limited today announced that it has completed its previously-announced amalgamation with Ship Acquisition Inc. As a result of the amalgamation, TUI AG owns 100% of the common shares of CP Ships. Holders of common shares of CP Ships immediately prior to the amalgamation, other than Ship Acquisition Inc, received one redeemable special share of CP Ships (the amalgamated corporation) per common share held.

• 21 Dec 2005 CP Ships and Hapag-Lloyd begin to rationalize services

  With the acquisition of CP Ships by Hapag-Lloyd, plans are set for the first in a series of service rationalizations: the combining of services between the West Mediterranean, the US East Coast and the Gulf of Mexico from February 2006.

• 17 Nov 2005 CP Ships and Hapag-Lloyd announce new weekly Australasian Service

  CP Ships and Hapag-Lloyd announced today that in February 2006 they plan to launch a new Australasian joint service linking Australia, New Zealand, South East Asia, the Mediterranean and North Europe via the Suez Canal.

• 17 Nov 2005 CP Ships and Hapag-Lloyd Announce New Weekly Australasian Service

  CP Ships and Hapag-Lloyd announced today that in February 2006 they plan to launch a new Australasian joint service linking Australia, New Zealand, South East Asia, the Mediterranean and North Europe via the Suez Canal.

• 30 Oct 2005 CP Kanha Named in Nhava Sheva Ceremony

  CP Ships Limited today welcomed into service the first of nine 4250 teu containerships ordered two years ago.

• 21 Aug 2005 CP Ships Accepts Offer for US $2 Billion in Cash

  The CP Ships Limited Board of Directors has unanimously recommended that shareholders accept an offer from TUI AG to acquire CP Ships in an all-cash transaction for US $21.50 per share or about $2.0 billion on a fully diluted basis. Including the assumption of net debt of $0.3 billion at 30th June 2005, the transaction has a total value of $2.3 billion.

• 15 Jul 2005 CP Ships to Double Frequency of Asia-Australia Service

  CP Ships Limited today announced that one year after launching fortnightly service between Asia and Australia, it plans to double the frequency to weekly through a vessel sharing agreement with Yantai Marine (SYMS).

• 03 Jun 2005 CP Ships Introduces New Standards for Ship Names and Livery

  CP Ships today took a key step in the process of re-branding its container shipping services under the CP Ships name by introducing new standards for ship names and livery.

• 09 May 2005 CP Ships to Appoint Nigel Rich as New Chairman

  The Board of CP Ships Limited today announced that it intends to appoint Nigel Rich as non-executive Chairman. It also confirmed that Ray Miles will continue to exercise overall executive responsibility as acting Chief Executive Officer until the appointment of a new CEO.

• 04 May 2005 CP Ships Acquires Borg International Freight Services

  CP Ships Limited announced today that it has acquired Borg International Freight Services Inc.

• 28 Apr 2005 CP Ships Adopts a Single Brand

  CP Ships Limited today announced that it plans to re-brand its container shipping services under the CP Ships name and retire its seven operating brands by the end of the year.

• 10 Feb 2005 CP Ships Announces Record Quarterly Operating Income

  CP Ships Limited today announced unaudited fourth quarter 2004 operating income of US$ 46 million, up from $36 million in fourth quarter 2003 and up from $41 million in third quarter 2004.

• 17 Jan 2005 CP Ships' Lykes Lines Awarded Ten-Year Contract by US Government

  The US Department of Transportation has granted Lykes Lines, a subsidiary of CP Ships, the right to operate five US-flag containerships in its new Maritime Security Program for ten years beginning 1st October 2005.

• 16 Dec 2004 CP Ships Strengthens Financial Management

  CP Ships Limited today announced a strengthened financial management structure, including new senior positions.

• 03 Dec 2004 CP Ships Reports on Trading Investigation

  CP Ships Limited reported today that its Special Committee comprised of four independent directors and chaired by Peter Dey has completed the previously announced investigation into stock trading activities in May and June of this year by certain officers of the Company.

• 01 Dec 2004 CP Ships CEO Frank Halliwell Resigns

  Frank Halliwell has resigned as CEO of CP Ships with immediate effect due to differences with the Board on future direction of the company. He will receive appropriate compensation under the terms of his contract.

• 16 Sep 2004 CP Ships to Revise Montreal Gateway Capacity Deployment

  As part of its plan to review capacity deployment in trade lanes where returns are insufficient, CP Ships Limited plans to adjust Montreal Gateway capacity from early 2005.

• 03 Sep 2004 CP Ships Completes Filing of Restated 2003 Management's Discussion & Analysis

  CP Ships today completed certain regulatory filings in relation to its previously-announced restatements for the years 2002 and 2003 and first quarter 2004.

• 09 Aug 2004 CP Ships Will Restate Previously Reported Financial Results

  Further to its 5th August announcement that the release of its second quarter 2004 financial results has been rescheduled to 16th August, CP Ships Limited announced today that in conjunction with the release of second quarter 2004 results it will restate previously reported financial results.

• 01 Jul 2004 CP Ships Meets International Security Code Compliance Date

  CP Ships Limited announced today that its containership fleet is in compliance with the vessel security requirements mandated by the United Nations International Maritime Organization.

• 04 May 2004 CP Ships Board Appoints Ray Miles As Chairman And Frank Halliwell As CEO

  Following the Annual and Special Meeting of Shareholders today, CP Ships Limited's Board of Directors appointed Ray Miles as Chairman and Frank Halliwell as CEO.

• 02 Apr 2004 CP Ships Closes on Acquisition of ROE Logistics

  CP Ships Limited, one of the world's leading container shipping companies, has closed on its acquisition of Montreal-based ROE Logistics, first announced on 23rd March 2004. The acquisition of ROE is part of CP Ships' plan to selectively develop logistics services as a way of leveraging strong regional positions and adding value to core container services.

• 23 Mar 2004 CP Ships to Acquire ROE Logistics

  CP Ships Limited, one of the world's leading container shipping companies, and Montreal-based ROE Logistics have entered into an agreement for CP Ships to acquire ROE.

• 16 Feb 2004 CP Ships Succession Plan

  Ray Miles, CEO of CP Ships Limited, will become Chairman succeeding Lord Weir after the Annual Meeting on 4th May 2004. Frank Halliwell, who is currently Chief Operating Officer, will step up to become Chief Executive Officer.

• 12 Aug 2003 CP Ships Commits to Long-Term Newbuild Charters

  CP Ships Limited today announced its agreement to the long-term charter of nine 4250 teu newly built containerships from Seaspan Container Lines for a term of up to ten years.

• 04 Apr 2003 CP Ships Re-Introduces Historic Corporate Symbol

  Famous Red and White Checkered Flag Flies Again!

• 03 Mar 2003 CP Ships Denies Reports of Kien Hung Acquisition

  CP Ships Limited announced today that it does not intend to acquire Kien Hung.

• 17 Dec 2002 CP Ships to Withdraw from Asia-Europe Slot Charter

  CP Ships Limited announced today that it has given notice to withdraw from its slot charter agreement with CMA CGM in the Asia-Europe trades effective early March 2003.

• 06 Dec 2002 CP Ships Division Canada Maritime Agrees to Container Slot Sale

  Brings New Business to Montreal Gateway Terminals.

• 15 Oct 2002 CP Ships Comments on Labour Dispute at US West Coast Ports

  For CP Ships, US West Coast volume represents only 9% of annual throughput. This includes Italia Line, acquired in August 2002.

• 11 Oct 2002 CP Ships Takes Delivery Of TMM Colima

  CP Ships Limited, one of the world's leading container shipping companies, has taken delivery of the 3200 teu TMM Colima. It was delivered on schedule by China Shipbuilding Corporation in Kaohsiung, Taiwan.

• 04 Oct 2002 CP Ships Restructures Australasian Trade Lanes

  CP Ships, one of the world's leading container shipping companies, is cooperating with five other carriers in an extensive restructuring of its Australasian trade lanes.

• 09 Sep 2002 CP Ships Takes Delivery of Contship Aurora

  Ship Investment Program Continues on Schedule.

• 29 Aug 2002 CP Ships Closes on Purchase of Four Ice-Strengthened Ships

  CP Ships Limited has closed on its purchase of four ice-strengthened containerships which were previously bareboat chartered. The closing price was $181.5 million.

• 06 Aug 2002 CP Ships Completes Acquisition of Italia Di Navigazione

  CP Ships Limited today completed its acquisition of all issued and outstanding shares in Italia di Navigazione from d'Amico Società di Navigazione S.p.A. for US$ 40 million in cash. The acquisition was announced on 30th May 2002.

• 30 Jul 2002 CP Ships Exercises Option to Purchase Four Ice-Strengthened Ships

  CP Ships Limited has exercised options to purchase for approximately US$ 180 million four ice-strengthened containerships currently bareboat chartered.

• 21 Jun 2002 CP Ships Takes Delivery of Lykes Ranger

  First of Newbuildings Under Ship Replacement Program.

• 30 May 2002 CP Ships to Acquire Italia Di Navigazione

  CP Ships Limited has reached agreement with d'Amico Società di Navigazione S.p.A. to acquire all issued and outstanding shares of Italian container shipping company Italia di Navigazione for US$ 40 million in cash.

• 10 Apr 2002 CP Ships Participates In TransAtlantic Rationalization

  CP Ships and its partners in the Grand Alliance have reached agreement with Cosco, K Line and Yang Ming to form the Atlantic Space Charter Agreement.

• 25 Jan 2002 CP Ships Meets Earnings Expectations

  CP Ships Limited today announced unaudited fourth quarter 2001 operating income of US $35 million before exceptional charges, in line with the previous quarter's $34 million but down from the record $47 million in the fourth quarter 2000.

• 14 Dec 2001 CP Ships and Dannebrog Agree to End Nordana Acquisition Discussions

  CP Ships and Dannebrog have decided not to proceed with the planned acquisition of Nordana Line by CP Ships.

• 03 Oct 2001 CP Ships Begins Trading on TSE and NYSE

  CP Ships, one of the world's top ten container shipping companies, began trading on the Toronto Stock Exchange and the New York Stock Exchange today under the symbol TEU.

• 14 Nov 2001 CP Ships to Acquire Nordana Line

  CP Ships, one of the world's top ten container shipping companies, has reached agreement with Dannebrog of Denmark to acquire Caribbean/Latin American market specialist Nordana Line.

• 15 Nov 2001 Canadian Pacific Railway and CP Ships Secure Long-Term Agreement

  Canadian Pacific Railway (NYSE/TSE:CP) and CP Ships have reached a long-term agreement that will see CPR continue as the shipping company's exclusive Montreal Gateway rail carrier well into the future.

• 02 Oct 2001 CP Ships to be Included in S&P/TSE 60 Index

  CP Ships, one of the world's top ten container shipping companies, is to be included in the S&P/TSE 60 Index of the top Canadian publicly listed companies. It will also be included in the TSE 300 and the S&P Global 1200.