Kingston Wharves Limited (KW) – Acquisition of stevedoring business of Transocean Shipping Limited (REVISED)

Kingston Wharves Limited (KW) has advised that it has acquired the stevedoring business of Transocean Shipping Limited with effect January 8, 2016. KW advised that the acquisition is intended to be effected at a maximum cost of Two Hundred and Nineteen Thousand Six Hundred and Eight United States Dollar (US$219,608.00), which will be payable over a three (3) year period provided certain terms and conditions are met. KW anticipates that with this acquisition, they will further expand and improve the range of services it offers to shipping lines that call the Port of Kingston.