Forum Archive Index - December 2002

[Marilyn Munroe <who.c@res.co.nz>]

Back in October when LPC had it's annual general meeting there was much angst 
about LPC loosing the new  P&O big boat service  to Port Chalmers.

In my post;

        http://www.sharechat.co.nz/archives/2002/10/msg00092.shtml

I wrote;

        Nature we are told abhors a vacum, so too with shipping. I am sure that
        there is another shipping company out there that would only be to happy 
to
        provide a direct European service to those Canterbury P&O Nedlloyd 
customers
        who will suffer as a result of this decision.

Events have proved my optimism to be well founded

In the following statement to the stock exchange;

        http://www.sharechat.co.nz/markets/news.php/NZSE/LPC/item/85179/A

Lyttelton Port Co. announced;

        Just weeks after LPC reached an agreement on employment terms with its
        Container Terminal staff to deliver an effective 24-hour-a-day,
        7-day-a-week service, the port has clinched a crucial contract with the
        world's second largest container shipping line, Mediterranean Shipping
        Company (MSC).

I was slightly surprised that the shipping co. exploiting this gap was MSC. I 
expected Compaqnie des Messaquerries Maritimes/Compaqnie Generale 
Transatlantquie to be the ones stepping forward.

LPC should continue to thrive and prosper as a result of this decision. The 
only caveat I have is that Messrs Layton & Viles are no longer on the scene 
to drive shareholder value.

Boop-boop-de-do Marilyn

Disclosure: hold LPC

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