CP Ships (NYSE:TEU)
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CP Ships announces second quarter 2005 reporting date and webcast
GATWICK, UK, July 5 /PRNewswire-FirstCall/ -- CP Ships Limited plans to
announce its second quarter 2005 financial results on Thursday 11th August
2005.
CP Ships management will host a conference call at 3:00 pm EDT on 11th August
to discuss the second quarter results. The conference call and accompanying
presentation will be webcast live on the CP Ships website
(http://www.cpships.com/), where it will also be available in archive. In
addition, the conference can be accessed on a listen-only basis by calling 1
800 289 0572 (toll-free in Canada and the US).
ABOUT CP SHIPS
One of the world's leading container shipping companies, CP Ships provides
international container transportation services in four key regional markets:
TransAtlantic, Australasia, Latin America and Asia. Within these markets CP
Ships operates 39 services in 22 trade lanes, most of which are served by two
or more of its seven brands: ANZDL, Canada Maritime, Cast, Contship
Containerlines, Italia Line, Lykes Lines and TMM Lines. On 28th April 2005, CP
Ships announced it will re-brand its services under the CP Ships name and
retire these brands by the end of 2005. At 31st March 2005, CP Ships' vessel
fleet was 81 ships and its container fleet 454,000 teu. Volume in 2004 was 2.3
million teu, more than 80% of which was North American exports or imports. CP
Ships also owns Montreal Gateway Terminals, which operates one of the largest
marine container terminal facilities in Canada. CP Ships is listed on the
Toronto and New York stock exchanges under the symbol TEU and also in the
S&P/TSX 60 Index of top Canadian publicly listed companies. For further
information visit the CP Ships website at http://www.cpships.com/.
FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking information and statements
within the meaning of the United States Private Securities Litigation Reform
Act of 1995 relating, but not limited to, operations, anticipated or
prospective financial performance, results of operations, business prospects
and strategies of CP Ships. Forward-looking information typically contains
statements with words such as "consider", "anticipate", "believe", "expect",
"plan", "intend", "likely" or similar words suggesting future outcomes or
statements regarding an outlook on future changes in volumes, freight rates,
costs, achievable cost savings, the estimated amounts and timing of capital
expenditures, anticipated future debt levels and incentive fees or revenue, or
other expectations, beliefs, plans, objectives, assumptions, intentions or
statements about future events or performance. Readers should be aware that
these statements are subject to known and unknown risks, uncertainties and
other factors that could cause actual results to differ materially from those
suggested by the forward-looking statements.
Although CP Ships believes it has reasonable basis for making the forecasts or
projections included in this press release, readers are cautioned not to place
undue reliance on such forward-looking information. By its nature, the
forward-looking information of CP Ships involves numerous assumptions, inherent
risks and uncertainties, both general and specific, that contribute to the
possibility that the predictions, forecast and other forward-looking statements
will not occur. These factors include, but are not limited to, changes in
business strategies; general global, political and economic and business
conditions, including the length and severity of any economic slowdown in the
countries and regions where CP Ships operates, including seasonality,
particularly in the United States, Canada, Latin America, Australasia, Asia and
Europe; the effects of competition and pricing pressures; changes in freight
rates; industry over-capacity; changes in demand for container shipping;
availability and cost of chartered ships; changes in laws and regulations,
including tax, environmental, employment, competition, anti-terrorism and trade
laws; difficulties in achieving cost savings; currency exposures and exchange
rate fluctuations, fuel price and interest rate fluctuations; changes in access
to capital markets and other sources of financing; various events which could
disrupt operations, including war, acts of terrorism, severe weather conditions
and external labour unrest, all of which may be beyond CP Ships' insurance
coverage; compliance with security measures by governmental and industry trade
practice groups, the outcome of civil litigation related to CP Ships'
restatement of financial results and the impact of any resulting legal
judgments, settlements and expenses, and CP Ships' anticipation of and success
in managing the risks associated with the foregoing.
The above list of important factors affecting forward-looking information is
not exhaustive, and reference should be made to the other risks discussed in CP
Ships' filings with Canadian securities regulatory authorities and the US
Securities and Exchange Commission. CP Ships undertakes no obligation, except
as required by law, to update publicly or otherwise revise any forward- looking
information, whether as a result of new information, future events or
otherwise, or the above list of factors affecting this information.
DATASOURCE: CP Ships
CONTACT: Investors: Jeremy Lee, VP Investor Relations & Public Affairs,
Telephone: (514) 934-5254; Media: Elizabeth Canna, VP Group Communications,
Telephone: +44 (0)1293 861 921 or +41 (0)79 691 3764