Company News

CANADIAN PACIFIC and TRANSPORTATION MARITIMA MEXICANA, the London-based container shipping business of CP and the Mexican transportation conglomerate, have agreed to form a 50-50 joint venture merging the container shipping business of TMM, Lykes Lines and Ivaran Lines. CP Ships owns both Lykes and Ivaran Lines. Contship Containerlines, Cast and Canada Maritime, all owned by CP Ships will not be a part of the joint venture.

The venture will have a revenue base of $1.2 billion and will operate 40 ships linking North America, Europe, and Asia with Latin America and the Caribbean. The venture is an expansion by Canadian Pacific to develop its business beyond the company’s Canadian base.

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