Ocean Wilsons Holdings Ld
Headline: Trading update
Ocean Wilsons Holdings Limited
Our principal operating subsidiary, Wilson Sons Limited announced to the Brazilian and Luxembourg Stock Exchanges the following announcement.
Wilson, Sons delivers third berth expansion at Rio Grande
The project will enable access to a larger quantity of ships at the Company's container terminal simultaneously, as well as create jobs and generate higher revenue for the State
Wilson, Sons completed today, October 01, 2008, the inauguration of its 250-meter berth expansion at Rio Grande Container Terminal (RS). After the expansion, more ships will be able to berth simultaneously at the terminal, there will be an increase in container movement at the port and, as a result, new jobs will be created.
The inauguration ceremony took place at 11am, at the terminal site, and was also attended by the governor of the state of Rio Grande do Sul, Yeda Crusius, as well as by Janir Branco, the mayor of the city of Rio Grande.
In 1997, Tecon RG was the first privatized container terminal in the country, which represents one of several successful Company enterprises. The terminal accounts today for 96% of the total container cargo moved through the Port of Rio Grande and the Company intends to act as a hub port for cargo moved to countries in the region (South America's southern cone), leveraged by its favourable site location and privileged geographical position, as well as by previous investments made.
Addition of a third berth at the terminal will represent a reduction in lag time (awaiting outerroads and alongside the berth), and also an increase in the number of ships and barges. Deep sea and inland navigation vessels, as well as feeders, will be able to operate simultaneously. Originally planned for 2012, project delivery was completed four years in advance.
The expansion will enable annual container movement capacity to reach up to 1.13 million TEUs (a unit of measurement equivalent to one container of 20 feet). During 1997, the first year in operation, a total of 90,975 TEUs were handled, whilst in the first semester of 2008 alone, up to 283,763 TEUs, in total, have been moved.
Since 1997, Wilson, Sons has invested US$ 100 million in the development and modernization of the container terminal. Nearly US$ 50 million were invested in this berth expansion project and in the acquisition of equipment.
The investments made in the expansion project included 2 Post Panamax Ship-to-Shore Container Cranes (Portainers) and 4 Rubber-Tyred Gantry Cranes (RTGs).
The new berth will reach, as a result of the expansion, 850 meters in length, with a 12.5-meter draft.
This information is provided by RNS
The company news service from the London Stock Exchange