CP Ships Limited announced that it plans to re-brand its container shipping services under the CP Ships name and retire its seven operating brands by the end of the year.
“We are listening to our customers and our own people,” said Chairman Ray Miles. “They have told us they prefer us to simplify our business and trade under a single brand.”
Since 1993, CP Ships has acquired nine container shipping companies, seven of whose brands are currently active: ANZDL, Canada Maritime, Cast, Contship Containerlines, Italia Line, Lykes Lines and TMM Lines.
“As CP Ships developed, multiple branding was a key element of our core strategy. It helped us maintain customer loyalty and build further on strong regional positions after each acquisition. Our aims, which we achieved, were not to lose any business when we acquired a new line and then make the business grow. But now that our acquisitions are fully integrated and will be on the same operational and financial systems later in the year, it is time to move on,” Mr. Miles added.
All other aspects of CP Ships’ core strategy remain unchanged, including its regional focus with strong market positions and building investment capacity to manage through the industry cycle and make business and asset acquisitions when conditions are right.
Service schedules and trade lane coverage will not be affected.
“A single CP Ships brand presents many opportunities. It will help us to streamline our corporate structure, improve further our accounting and related business processes and information systems, save costs, strengthen our company culture and more closely align how we communicate with all of our customers. We look forward to re-establishing the historic CP Ships brand,” Mr. Miles said.
A project team has been established to steer the many aspects of the re-branding process, which will take place over the remainder of the year. Alan Boylan, EVP Commercial, has overall responsibility for re-branding. As part of this, CP Ships is developing a new website to meet the needs of customers, investors and others, all from a single platform. Until the re-branding is complete, the existing corporate website and the seven brand websites will function as normal.