MOVE Completes Purchase of Vessel for Trans-Tasman Service

Company Announcement
20 October 2022

MOVE COMPLETES PURCHASE OF VESSEL FOR TRANS-TASMAN SERVICE
Transport and logistics group, MOVE Logistics Group Limited (NZX/ASX: MOV), has completed the
purchase of the Atlas Wind, out of Europe.
This vessel will be utilised for MOVE’s new trans-Tasman shipping route, as previously advised, with
the first sailing scheduled for Q4 2022. The repositioning costs from Europe are covered with paying
cargoes secured by MOVE.
The Atlas Wind can carry 366 containers, or the equivalent of 5,000 tonnes of bulk cargo. With two
cranes on board, the vessel has the ability to call into ports that historically may not have been able
to accept containerised and bulk cargoes.
Executive Director, Chris Dunphy, said: “We identified a gap in the market and are stepping up to
provide much needed sea freight access for regional New Zealand and Australian businesses.
Customer interest and demand has been strong, with several large customers already contracted to
use this new transport solution. The new Oceans trans-Tasman service more than adequately meets
our internal rate of return, is earnings accretive and will greatly benefit both MOVE clients and
shareholders alike.”
MOVE is in the process of establishing MOVE Oceans Singapore PTE Limited, a new Singaporean
wholly owned subsidiary to own the Atlas Wind. It is expected that this new subsidiary will be
incorporated in the next two weeks. In the interim and to facilitate settlement, Christabell Maritime
PTE Limited has acquired title to the Atlas Wind on bare trust for MOVE. Once the incorporation of
MOVE Oceans Singapore is completed, Christabell Maritime will immediately transfer ownership of
the Atlas Wind to MOVE Oceans Singapore. Christabell Maritime is owned by Chris Dunphy,
executive director of MOVE.
ENDS

For further information, please contact:

Chris Dunphy
Executive Director
Phone: +61 417 888 930
Email: Chris@movelogistics.com
Lee Banks
Chief Financial Officer
Phone: +64 27 525 2876
Email: Lee.Banks@movelogistics.com

For media assistance, please contact: Jackie Ellis t: + 64 27 246 2505 e: jackie@ellisandco.co.nz

About MOVE Logistics Group Limited (MOV)
MOVE is one of the largest domestic freight and logistics businesses in New Zealand, with a
nationwide network of branches, depots and warehouses.