American Export Lines

American Export Lines (II)

American Export Lines (AEL), re-emerged after the dissolution of the American Export-Isbrandtsen Lines in 1973. AEL sold their Staten Island Marine Terminal to the City of New York in 1974. After heavy losses and unable to meet crippling debt payments, AEL went into bankruptcy in July 1977, with Farrell Lines buying its port operations in New York City and its remaining ships a year later, including two container ships on order or already under construction at Bath Iron Works, the Argonaut and Resolute, which were delivered directly to Farrell. Farrell Lines was acquired by Royal P&O Nedlloyd in July 2000; in turn, Royal P&O Nedlloyd was acquired by A.P. Moller-Maersk Group in August 2005. The port operations formerly associated with the American Export-Isbrandtsen Lines became part of the Dubai Ports World controversy in February 2006.