Lonrho Sails Adds a Further Three Container Ships to Fleet

4 September 2007
Content from a Premium Partner
Lonrho (London)
press release

Lonrho (AIM: LONR), the African conglomerate with a diverse portfolio of investments is pleased to announce that its 45% owned subsidiary, SA Independent Liner Services (PTY) Ltd ("SAILS"), has signed contracts with ship suppliers for the addition of three new container vessels, which will increase its fleet to seven vessels with a total combined fleet tonnage of 66,445 tonnes.

Lonrho announced its investment in SAILS in July 2007 and the intention of expanding SAILS' fleet to offer regular, scheduled services from South Africa to West Africa and Europe.

The three new vessels will be added to the fleet are the MV Orinoco River, MV El Lobo and MV Vaal River. Each vessel is 9,966 metric tonnes, equipped with 220 refrigerated container plugs and will be utilised for the South Africa/ West Africa/ Europe service.

All three vessels are new and will be chartered to SAILS for a period of 24 months. As with the Taga Bay, these vessels will carry the new "LONRHO SAILS" branding.

  • The MV Orinoco River is scheduled to be delivered in Shanghai around Mid October 2007.
  • The MV El Lobo is scheduled to be delivered in Singapore around Mid November 2007.
  • The MV Vaal River is scheduled to be delivered in Shanghai at the end of November 2007.

The MV Taga Bay was successfully delivered in Shanghai at the end of August 2007. She is scheduled to depart for South Africa in the next week at 100% capacity. After reaching South Africa, she will take up her assignment on the South Africa/ West Africa/ Europe service.

The MV Heinrick Sibum was also successfully delivered at the end of August 2007, and is chartered on a round voyage basis with an option for an additional round trip voyage, thereby providing interim, additional carrying capacity to Europe. This vessel is also at 100% capacity on her southbound voyage which is scheduled to depart from Antwerp in the next few days and will call at Dakar, Tema and Tin Can Island or Lagos before arriving in Cape Town.

David Lenigas, Executive Chairman and Chief Executive commented;

"The seven ships to be operated by SAILS will provide for an annual lifting capacity of over 1 million tonnes of African imports and exports. This represents a five fold uplift in container carrying capacity since Lonrho's investment."

"The success of SAILS as a growing shipping business is seen in the exceptional load factors now being achieved on the Europe/Africa service. I see significant scope in the year ahead to add even more container ships to the fleet to service the growing demand for the import and export trade between the two continents."

ENQUIRIES

  • Lonrho Plc +44 (0) 20 7016 5105
  • David Lenigas, Chief Executive +44 (0)7881 825 378
  • Emma Priestley, Executive Director +44 (0)7867 785 177
  • SAILS Ian Wicks +27 (0)82 3871202, +27 (0)21 4211750
  • Pelham PR Charles Vivian +44 (0) 20 7743 6672, +44 (0) 7977 297903
  • Alisdair Haythornthwaite +44 (0) 20 7743 6676, +44 (0) 7714 721379
  • Collins Stewart Europe Hugh Field / Jonny Sloan +44 (0) 20 7523 8350

NOTES TO EDITORS

About SAILS

SAILS is a South African based shipping company focused on providing a regular and reliable scheduled service to West Africa, and Europe calling at - Durban, Port Elizabeth, Cape Town, Tema; Lagos, Rotterdam, Felixstowe, Bremerhaven and Antwerp. In the medium term SAILS is constantly monitoring and assessing alternative trade routes, including potentially East Africa, and looking to expand rapidly to support the needs of its already strong client base.

About LONRHO

Lonrho Plc is an expanding conglomerate that is rapidly growing a successful business throughout Africa. The Company is listed on the London AIM stock exchange (LONR). Lonrho is strategically focused on the development of business opportunities in infrastructure, transportation, support services and natural resources. The Company has over 20,000 shareholders and substantial institutional backing to support its mandate to build a profitable business that plays a fundamental role in the development of the African economy.

Since 2006, the Company has invested in or acquired control of:

  • Hotel Cardoso - www.hotelcardoso.co.mz (retained)
  • Nare Diamonds - www.narediamonds.com
  • Brinkley Mining - www.brinkley-mining.com
  • Luba Freeport - www.lubafreeport.com
  • Fly540 - www.fly540.com
  • Norse Air - www.norseair.co.za
  • Swissta Holdings - www.swissta.com
  • Countermine - www.countermine.com
  • SA Independent Liner Services
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