The "Other" Port Deal

The JOURNAL of COMMERCE ONLINE ^ | Fri Jul 29, 2005 | Bruce Barnard

[gov_bean_ counter]

LONDON -- European Union regulators today approved A.P. Moller-Maersk's $2.8 billion takeover of P&O Nedlloyd (schedules).

In return, Copenhagen-based Maersk has agreed to sell P&O Nedlloyd's Europe-South Africa operations and withdraw the Dutch carrier from several liner conferences and consortia.

The European Commission, the EU's executive agency, said it was particularly concerned about the impact of the merger on the transport of refrigerated products from South Africa to Europe where the two merging carriers have a market share of more than 50 percent.

[gov_bean_ counter]

While security concerns are legitimate issues, apparently, these were not at the top of Chuckie Schumer's concerns.

In 2000 the NY/NJ Port Authority gave Maersk something in the neighborhood of $600 million in concessions along with the promise to make them the hub provider in exchange for not moving their terminal business elsewhere.

In addition in 2000 Congress approved 1.7 billion dollars in port upgrades to accommodate this one company.

It was late last night when I ran across this and thought the merger was consumated recently, when in fact it was an official name change that has happened in the past month.

Make of this what you will. IMO, it stinks that the MSM can't dig into an issue and get the whole story out.

[gov_bean_ counter]

There other links that can be provided by Freepers who followed up on this last night. Right or wrong on the DPW deal, the American people deserve to be told the whole story.

[new yorker 77]

This a perfect opportunity for all those who pretended to care about our port security to practice what they preached.

You have had ZERO replies.

This proves that the pretend to care moment has now passed.

[gov_bean_ counter]

Doesn't fit the template.

[Doe Eyes]

How soon we forget those attacks by terrorists from Copenhagen.