China Navigation snaps up Pacifica Shipping

Pacifica has two container ships with a total capacity of 807 teu and runs scheduled services linking New Zealand’s ports, and the agreement is provisional.

Brodie Stevens, country manager at China Navigation New Zealand commented, “We are optimistic that the purchase will be completed in the coming weeks. We will be increasing our investment in New Zealand’s shipping and logistics industry. We look forward to expanding and improving the valuable domestic transport solutions which Pacifica currently provides and we are confident that the operational and environmental benefits of coastal shipping will continue to play a significant role in the sustainability of New Zealand’s transport infrastructure.”

If the sale goes ahead, China Navigation will leave Pacifica as an independent operation with headquarters in Auckland, “business as usual for Pacifica and the existing management team” according to Pacifica ceo Steve Chapman.

“We have found a traditional shipowner and operator who respects the history and recognise the significant contribution which Pacifica has made to the New Zealand transport industry. We are confident of China Navigation's commitment to the sale process and the fact that they are willing to invest in the next stage of Pacifica’s growth,” said David Skeggs, managing director of the Skeggs Group.

China Navigation, Swire’s deep sea shipping arm, has signed an agreement to acquire New Zealand-based Pacifica from the Skeggs Group.