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Displaying items by tag: MSC overtakes

LloydsLoadingList reports that the board of Brazilian regional container line Log-In – Logistica Intermodal S.A., has approved the acquisition of a 67% stake in the company by Mediterranean Shipping Company (MSC) in a bid valuing Log-In at just over $500m.

Log-In has seven boxships in service with another two on order.

Maritime analyst Lars Jensen, CEO of Vespucci Maritime, said: “MSC is now the world’s largest container carrier. With the board approval to buy Log-In, this will add some 15,000 TEU of additional capacity to the fleet controlled by MSC, placing them ahead of Maersk.”

He cites Alphaliner’s top 100 ranking table which shows:

Maersk with 4,264,054 TEU

MSC with 4,256,172 TEU

Log-In with 15,462 TEU.

So adding 15,462 TEU to MSC gives it a total of 4,271, 634 TEU, making it top of the table, he said.

More here on MSC's buying spree, noting the global container operator Afloat adds has an Irish office located in Sandyford, Co. Dublin.

Published in Ports & Shipping

The Irish Cruiser Racing Association (ICRA) Information

The creation of the Irish Cruiser Racing Association (ICRA) began in a very low key way in the autumn of 2002 with an exploratory meeting between Denis Kiely, Jim Donegan and Fintan Cairns in the Granville Hotel in Waterford, and the first conference was held in February 2003 in Kilkenny.

While numbers of cruiser-racers were large, their specific locations were widespread, but there was simply no denying the numerical strength and majority power of the Cork-Dublin axis. To get what was then a very novel concept up and running, this strength of numbers had to be acknowledged, and the first National Championship in 2003 reflected this, as it was staged in Howth.

ICRA was run by a dedicated group of volunteers each of whom brought their special talents to the organisation. Jim Donegan, the elder statesman, was so much more interested in the wellbeing of the new organisation than in personal advancement that he insisted on Fintan Cairns being the first Commodore, while the distinguished Cork sailor was more than content to be Vice Commodore.

ICRA National Championships

Initially, the highlight of the ICRA season was the National Championship, which is essentially self-limiting, as it is restricted to boats which have or would be eligible for an IRC Rating. Boats not actually rated but eligible were catered for by ICRA’s ace number-cruncher Denis Kiely, who took Ireland’s long-established native rating system ECHO to new heights, thereby providing for extra entries which brought fleet numbers at most annual national championships to comfortably above the hundred mark, particularly at the height of the boom years. 

ICRA Boat of the Year (Winners 2004-2019)