British maritime management company Inchcape Shipping Services has taken full ownership of New Zealand port agency company ISS-McKay after buying McKay Shipping Limited’s share of the joint venture.
ISS-McKay, which has eight port offices across both the North and South Islands of the country, covers the cruise, dry bulk, tanker, liner and ship manager markets and was established in 2008 as a joint project with McKay Shipping.
David Pratt, regional CEO of Asia Pacific for Inchcape, which was already the majority shareholder of the port agency, said: “This strategic expansion highlights Inchcape Shipping Services’ commitment to innovation and growth while also reinforcing its position as global leaders in the shipping industry.
“We are excited to further strengthen our operations in New Zealand and continue to build on the strong foundations established in NZ for our customers, industry partners and local team.”
As part of the full acquisition, local management and ISS-McKay’s 41 staff will transition into Inchcape’s organisation with a focus on an easy continuation of services for customers.
A strengthened presence in New Zealand will further increase Inchcape’s operations in the maritime industry, which already covers 85% of the world’s ports in 60 countries and add to its 245 proprietary offices and 3,200 staff.