CHINA SHIPPING BUYS NORTON LILLY’S SHARE IN AGENCY FIRM
China Shipping Group has acquired the shareholding of Norton Lilly International Inc. in China Shipping (North America) Agency Co., Inc., a former 50/50 joint venture between the Chinese shipowner and the New York-based liner agency firm.
China Shipping (North America) Agency, headed by Grove Conrad, was set up in 1999 just before China Shipping Group entered the transpacific trade.