[ Young Chang change its name to P&O Swire Shipping Agencies ]

P&O Containers has formed a new agency company in South Korea in colla-
boration with Swire and Young Chang Shipping, its former agent. It said
the move is part of its policy of integrating its Far East agency
network.
The new agency, P&O Swire Shipping Agencies (Korea) Ltd, is 51 percent
owned by P&O Containers while Swire Group holds 19 percent and Young
Chang has taken a 30 percent stake. With immediate effect it has taken
over all the existing business of Young Chang.
P&O said continuty of service will be maintained as the new arrangement
involves no changes to personnel or offices.