FORMER SAFBANK PARTNER UNDERTAKES NOT TO COMPETE
Andrew Weir Shipping Ltd., the U.K.-based partner of SafBank Line that is selling its share to majority partner Safmarine, has agreed not to compete against Safmarine in the U.S./Africa/Australia liner trade for a period of two years.
Safmarine, a sister company of Maersk Sealand, acquired Andrew Weir Shipping’s share in the SafBank Line joint venture on Nov. 30.
Under an agreement filed with the U.S. Federal Maritime Commission, the Safmarine/Andrew Weir Cooperative Working Agreement, the two shipping lines said that they “will not compete with one another in the trade between U.S. ports and, generally, ports in South and East Africa, Australia, and New Zealand.”
Andrew Weir’s remaining liner services focus mainly on the intra-European trades and on deep-sea European trades to and from East Africa, Australasia, the Mediterranean, the Indian Subcontinent and the Mideast.