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CP Ships Comments on Labour Dispute at US West Coast Ports
| 15.10.02 London, UK (15 October 2002) - For CP Ships, US West Coast volume represents only 9% of annual throughput. This includes Italia Line, acquired in August 2002. Many of CP Ships' North American West Coast services also call Vancouver and Mexican ports which are not part of the labour dispute. There will be several lost voyages and increased costs, some of which is expected to be recovered through surcharges and some through strike insurance cover. Overall, we anticipate the impact on our results, all of which occurs after the third quarter 2002, to be modest. -ends- |
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