Shipping line sold
PA Wellington " After months of controversy, the Shipping Corporation was sold yesterday to the British-based company, Blueport-ACT, for a down payment of $18.5 million. A spokeswoman for the Minister for State-Owned Enterprises, Mr Rodger, said the balance of the money for' the corporation would be paid after an audit. Mr Rodger announced on March 22 that the corporation would be sold to ACT for between $35 million and $4O million. The audit will establish its final value. The corporation was rocked by controversy for several months when it reflagged two of its vessels and replaced New Zealand crews with foreign seafarers to achieve internationally competitive crewing levels. Two months later the four maritime unions and the corporation agreed on new conditions of employment., &
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19890404.2.29
Bibliographic details
Press, 4 April 1989, Page 3
Word Count
126Shipping line sold Press, 4 April 1989, Page 3
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.