Sea-Land Service Inc will complete a review of a restructuring proposal in 60 to 90 days that could split the company into three operating units, according to an internal company message. The Journal of Commerce reported that chief executive John Clancey said in a message to staff: 'This structure offers many advantages both internally and externally.' The plan - described as 'very promising' - would create a terminal company, a domestic liner company for US Jones Act cargo and an international container carrier. 'There is a significant amount of work to be concluded, but this is an exciting development and one that I am convinced will improve the performance of the business by bringing significantly enhanced focus to each of the different businesses,' Mr Clancey said. Until recently, most speculation envisioned a sale of the liner company to alliance partner Maersk. Mr Clancey's message did not mention the alliance, but Sea-Land's senior vice-president Chris Kock said: 'We do not expect this [restructuring proposal] to have any effect on the Maersk relationship.' Industry analysts believe Sea-Land's future role in CSX Corp changed after the parent company spent US$4.2 billion to acquire a 42 per cent stake in Conrail Inc last year. That move, which increased CSX's rail holdings by about 30 per cent, came as Sea-Land found itself facing market weakness resulting from more than three years of declining freight rates tied to overcapacity and economic crises that emerged in 1997 in Asia and elsewhere.