CP Ships charts expansion course

CP Ships, the container shipping division of Canadian Pacific Ltd., is planning to expand its operations to go beyond its Atlantic operation by offering to buy Lykes Bros. Steamship Co. The company has offered $30 million for Lykes' trade lanes, office staff and control of 11 ships. Raymond Miles of CP Ships says that the company does not plan to move into the routes of global carriers but CP Ships intends to concentrate its expansion in 'non-arterial trades' even if the proposed takeover fails.