SEA-LAND, MAERSK FINALIZE DEAL

   Getting a jump on the new millennium, the ball dropped Friday night on completion of A.P. Moller Group’s purchase of Sea-Land Service’s
international liner operations.
   Accounting and other business functions were transferred after midnight Saturday morning, said a spokesman for Maersk Line, the ship-operating subsidiary of A.P. Moller. Further details on the finalized sale will be released today.
   The sale, announced July 22, is the largest consolidation move yet in
container shipping. Sea-Land has operated 70 container vessels and some 200,000 containers in its international trade. Maersk’s fleet comprises 180 containerships and 300,000 containers.
   The $800-million sale was wrapped up one day after the Maritime
Administration approved the transfer Sea-Land’s operating agreements to U.S. Ship Management, a separate company set up by Maersk to operate the ships. Under the agreement, U.S. Ship Management will time charter the ships to Maersk.
   U.S. Ship Management took control of 19 international trade container vessels formerly operated by Sea-Land.
   "We look forward to providing operational excellence in support of
Maersk-SeaLand’s outstanding global network," said Jay Keegan president of U.S. Ship Management.
   The former Sea-Land ships will remain under U.S. flag and will be crewed by U.S. seamen.