Friday 21 November 08 - 22:13
 

News Americas

Inchcape to double up by 2010

Inchcape Shipping Services (ISS), the world's largest privatelyowned marine management services company, is planning to double its business by 2010. The company was acquired earlier this year by the Dubai Government-owned investment group Istithmar PJSC following ISS being put up for sale by its parent Electra Investment Trust Plc. Initially, 25 companies expressed interest which was short-listed to five with Istithmar being the successfully bidder.

ISS's expansion strategy up to 2010 is twofold. On one hand it plans to increase its core port agency business from the present 53,000 annual port calls to around 70,000 by 2010. On the other, the company is looking to diversify by broadening the range of its services involving liner shipping, container depots, bulk shipping, tankers and recruitment.

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