Some important dates
The begining Transinsular was established by initiative of the Portuguese Government by the Decree-Law 336/84 on the 18th October 1984, following the closing of the former public companies CTM (Companhia de Transportes Marítimos) e CNN (Companhia Nacional de Navegação). The company began his comercial activity in March of 1985 with regular services on the domestic market of Azores and Madeira. In 1986 Transinsular secured already an important share of the shipping market between Portugal and its Autonomous Regions of Azores and Madeira, and succeeded also in establishing several mid term contracts with bulk shippers to the islands. In this same year the Company started his program of renovation of the fleet. Opening of the Company Capital to the private initiative On the 6th of July of 1987 through a Public Sales Offer the State sold 30% of its share of the Capital Stock. During the second quarter of 1988 two new Lines to Africa, origininating in the Mediterranean and Northern Europe, with destinations to Guinea-Bissau and Cape Verde, were established. In September of this same year began also the short-sea trade between Portugal and Northern of Europe. Still in 1988 Transinsular made several investments in various companies: Operlis (port operations-Lisbon), OPM (port operations - Funchal), OPDL (port operations - P Delgada), T&M (maritime agents - Lisbon) and TMI (maritime freight forwarders - Lisbon). Total privatization On the 6th August 1990 took place a Public Offer where 99.28% of the shares passed to private hands, with TIGEST owning more than 75% of the company. Following the change of shareholders the company undergone major changes with the aim of achieving a competitive structure. These changes lead also to the constitution in 1992 of S&C-Shipmanagement and Crewing in order to improve the fleet's performance. During the last quarter of 1991, Transinsular reshufled its Africa Expresso line, linking the North Continent and Portugal to Mauritania, Guinea-Bissau and Cape Verde. The capacity was increased with a second container vessel. Development As a result of Transinsular's edium Term Investment plan approved in 1993 the company received two new buildingg container vessels, in 1994 and 1995, and in 1996 a second-hand vessel to be converted into a cement carrier. Transinsular also holds shares of a small group of 10 associated companies, among them some of Cape Verde, Guinea-Bissau and Mozambique. On April 1999 the Group ETE - Empresa de Tráfego e Estiva took control over the company buying the large majority of the shares (99.6%). This operation marks the end of the negotiations with the former share holder, CMB - Compagnie Maritime Belge N.V, who owned Transinsular since 1993. Transinsular, the biggest portuguese shipping company on the liner market, with a fleet of 8 vessels and a total sales of 15 billion escudos, is again part of a Portuguese Group. The Company will pursue his efforts to keep its leading role in the portuguese market, namely in Azores and Madeira, as well in the West and East African Coast, Cape Verde and Guiné-Bissau, Angola and Mozambique