Thursday, September 14, 2006

Samskip - Making Bold Moves / Charting to Blue Water

Listed below is a press release from Samskip. Michael Hassing has been making some bold moves as of late and is charting the organization to blue waters.
Niche players, short sea companies, and reefer cargo operators better take note...Samskip is positioned for long term success and will keep the pressure on via acquisitions, innovations, and plain old hard work. We will keep an eye on them in this space...

Hassing speaks about Samskip sale of TECO
Samskip Chief Executive Officer Michael Hassing on Tuesday commented on his company’s sale of its 50 percent stake in short-sea operator TECO to Tschudi Shipping, saying the TECO did not fit in with Samskip’s "core strategy of focusing on the door-to-door market."

"The sale will have only positive effects on Samskip’s continued growth within our core markets, of which the Baltic region forms part, and the development of our focused products," Hassing said in a statement.

"The TECO disposal will enhance our growth prospects. An example of our commitment to the region was expressed through the recent establishment of our Klaipeda (Estonia) office and weekly vessel call. It was furthermore felt by both TECO partners that the TECO business would be better developed under one owner due to its focus on the feeder business and the subsequent competition with other feeder operators."


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