P&O NEDLLOYD COMPLETES ACQUISITION OF FARRELL LINES
Anglo-Dutch ocean carrier P&O Nedlloyd has completed the previously-announced acquisition of New York-based Farrell Lines Inc.
The completion follows Monday’s approval of the transaction by the U.S. Maritime Administration.
P&O Nedlloyd said that the two companies are now implementing the integration of their activities.
The U.S./eastern Mediterranean coverage provided by the existing Farrell container service will be continued, P&O Nedlloyd said.
Farrell operates five U.S.-flag containerships of about 2,000-TEU capacity in a service between the U.S. East Coast and the western and eastern Mediterranean. The service will now be operated under the name Farrell Mediterranean Express service. P&O Nedlloyd said that the revised final port rotation of the service will be announced soon.
In addition, the carrier plans to introduce links between the Farrell service and other services of the P&O Nedlloyd network during August.
A key cargo segment for Farrell is U.S military and preference cargo, which require U.S. -flag ships, P&O Nedlloyd said.