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Agency battle hots up in western Mediterranean.

Europe Intelligence Wire

| December 01, 2006 | COPYRIGHT 2006 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Lloyds List)

A BATTLE for market share is looming in the western Mediterranean as several firms in the highly competitive cruise and yacht agency business look to expand their operations.

In October a resurgent Medov Italy and MacAndrews of Spain announced a new partnership in French ports, including those of Corsica, Monaco and the French Riviera.

Meanwhile, Genoa firm Cambiaso Risso, a significant presence in the cruise agency business in Italy and Monaco and on the French Riviera, has just tied up a new joint venture in Barcelona focusing on cruise and yacht services.

Executives at Medov and Mac- Andrews have been tightlipped about the details of their arrangement and their plans for the future, noting that the pact only takes effect on January 1 and they are still in the process of hiring senior staff.

At the same time, market sources anticipate an aggressive growth strategy from the new Medov MacAndrews Cruise, led by Medov chairman Giulio Schenone who until recently was managing director of CP Ships in Italy.

Medov was a casualty of the Festival bankruptcy in 2004, and following the collapse most of its assets, including a number of cruise line service contracts, were sold to a group put together by the Schenone and Spizzuoco families, well established shipping names in Genoa.

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