Inchcape Shipping Services Acquires Full Ownership of ISS-McKay Limited
Inchcape Shipping Services has successfully acquired full ownership of ISS-McKay Limited, a joint ve...
[By: Inchcape Shipping Services]
Inchcape Shipping Services has successfully acquired full ownership of ISS-McKay Limited, a joint venture that was set up in 2008 with Inchcape to conduct core Port Agency business in New Zealand under the name ISS-McKay. This strategic expansion aligns with Inchcape’s corporate vision and demonstrates its commitment to providing comprehensive services in key locations where its clients do business.
ISS-McKay has become the leading port agency in New Zealand, providing full coverage to the North and South Island of New Zealand through its network of 8 port offices and 41 local staff. The acquisition of McKay Shipping Limited's share of ISS-Mckay further solidifies Inchcape Shipping Services’ commitment to broadening horizons and strengthening its presence in key locations around the globe.
With its extensive network and experience, ISS-McKay is well-suited for all vessel activities in the country, with key market shares in Cruise, Dry Bulk, Tanker, Liner, and Ship Manager markets. As part of the joint venture, Inchcape Shipping Services established itself as the majority shareholder, with local management supporting the operational and commercial management of the business in New Zealand.
Effective 2nd November 2023, Inchcape Shipping Services has acquired the balance of shares and moved towards full ownership of the New Zealand organisation. The move is an exciting development for both Inchcape and McKay Shipping, with local management and staff transitioning into the new organisation to ensure the continuation of service and experience for our customers.
“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 New Zealand for our customers, industry partners and local team,” said David Pratt, Regional CEO of Asia Pacific.
Inchcape New Zealand provides a diverse range of maritime services including port agency, husbandry, crew logistics services, ship handling, bunker fuel supply arrangement, liner agency, logistics services to oil and gas, construction, dredging, cable-laying, cruise tourism and other sectors, military support services and maritime consultancy.