KENYA SIGNS PACT TO ESTABLISH OWN SHIPPING LINE

  Kenya has signed an agreement with
  British and German interests to establish a shipping line that
  will handle 40 pct of the country's external trade, sources
  close to the deal said.
      The state-owned Kenya Ports Authority, KPA, signed an
  agreement with the Hamburg-based shipping line Unimar
  Seetransport to establish the Kenya National Shipping line,
  with an initial capital of 100 mln shillings, sources said. KPA
  will hold 70 pct of the shares in the new company.
      The line will initially charter vessels to operate services
  between Mombasa and the main ports of industrial Europe, but
  may eventually build or buy its own ships. The sources said it
  would aim to carry a large part of Kenya's coffee and tea
  exports and oil and fertiliser imports.
  

