# Chiquita International Sells Fleet



## Jim S (Jan 21, 2006)

A press release by Chiquita International on 1st May 2007 announced the sale of 8 reefers and 4 container ships owned by the company and managed by their subsidiary Great White Fleets of Antwerp to a consortium of Eastwind Maritime Inc of New York and NYKLauritzen Cool AB of Sweden for 227 million US dollars.
This alliance will serve as preferred supplier of ocean shipping to Chiquita.
11 of the ships to be leased for 7 years with a further 5 year option.
1 vessel for 3 years with a further 2 year option.
The following are my own views;-
Chiquita International can be traced back to the old United fruit Company that was created in 1899 and by 1930 had a fleet of 95 ships.
In 1970 United Fruit company was renamed United Brands at a merger with AMK Corporation. A further name change to Chiquita Brands took place in 1990. Orders for a fleet of 16 reefers were placed that year for ships such as the Danish built Chiquita Scandinavia. As this series of ships are now getting on in years I guess this is a clever financiial move by the company to rid itself of depreciating assets.
Our own Elders & Fyffes was a subsidiary until 1986 when the "Fyffes" brand name was bought by Fruit Importers of Ireland. As a company United Brands showed little interest in ship owning and it is fair to say that relations between Fyffes and the parent company became increasingly strained.


----------



## John Cassels (Sep 29, 2005)

Jim , any idea what will happen to Great White fleet management in Antwerp
as have a couple of old colleauges ( still ) working there ?.


----------



## fred henderson (Jun 13, 2005)

*Banana Boats*

Jim 

Thank you for that news. I have the impression that it is some years since any company built new fruit carriers, perhaps the market rates have not benefitted from the China effect, but the ships are facing the general massive increase in Bunker prices. 

Fred


----------



## James_C (Feb 17, 2005)

That and the fact the Box boats are now offering refrigeration capacity well in excess of the worlds reefers.


----------

