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.<\/p>\n
ISS had a record year in 2005 and it appears set to repeat it this year. Group chief executive Claus Hyldager said: “We are currently 20% ahead of budget.” Expansion is envisaged to be both organic and by acquisitions and joint ventures. Mr Hyldager indicated that some $40m could be allocated to two current acquisition negotiations if they are both successful.<\/p>\n
In terms of key areas for expansion ISS is seeking a partner in China to add to its current agency activities to allow it to offer a wider range of services. In West Africa it is looking for agents with liner shipping business while in Latin America it is focusing on Venezuela, Colombia, Argentina and Mexico to boost its energy shipping agency and other activities. For bulk shipping, China and South East Asia are the main targets.<\/p>\n
The company’s most recent joint venture is with Primorsk Shipping Corporation in eastern Russia where the two have formed ISS-PRISCO Ltd.<\/p>\n
Headquartered in Nadhodka, ISS-PRISCO is already offering full agency services at such ports as Vladivostok, Vostochny, Vanito and the Vityaz marine terminal on Sakhalin Island.<\/p>\n","protected":false},"excerpt":{"rendered":"
Inchcape Shipping Services (ISS), the worlds 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.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[23],"tags":[],"sponsor":[],"class_list":["post-3020","post","type-post","status-publish","format-standard","hentry","category-north-america"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/3020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/comments?post=3020"}],"version-history":[{"count":0,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/3020\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media?parent=3020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/categories?post=3020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/tags?post=3020"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/sponsor?post=3020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}