Ncl

Norway To Rule On Star Bid

Norway's Industry Ministry is likely to make a ruling before Feb. 4 regarding a bid by NCL's board to deny votes to Malaysia's Star Cruises. NCL, the target of a bid war between Star and U.S. giant Carnival Corp., is accusing Star of skirting the law by failing to update Norwegian authorities of its NCL share buying. Star owns 47 percent of NCL. Under Norwegian law, any firm seeking to acquire parts of a business has to notify the ministry when its stake exceeds one-third, a half and two-thirds of the stock. NCL says Star passed one-third of the stock in the ministry will determine whether NCL's travel operations in Norway were directly related to its shipping business. If so, NCL would be exempted from the law and lose its case.

NCL Turns Down Carnival's $1.7B Takeover Bid

NCL Holding ASA flatly rejected a 30 crown ($3.72) per share takeover offer from Carnival Corp, saying it undervalued the group's potential. NCL Chairman Kristian Siem, who controls 14.9 percent of the Miami-based cruise company, said it would be a "waste of time" to even meet Carnival given the offered price. "To meet based on a price level of 30 crowns is a waste of time," Siem said. "It's very pleasant that Carnival values NCL

NCL To Buy New Cruise Ship

Norwegian cruise operator NCL Holding has finalized financing for the construction of a new 2,012 passenger cruise liner similar to the recently delivered Norwegian Sky. NCL announced in May an agreement of intent with Lloyd Werft to build the vessel for $351 million, with options for another vessel worth $334 million. The agreement was conditional in financing. NCL said the new ship was to be delivered on Aug. 31, 2001

Star Surprises NCL With Takeover Bid

Singapore-listed Star Cruises Plc launched a surprise takeover bid for Norway's NCL Holding ASA on Dec. 17, after U.S. giant Carnival Corp. bowed out of a battle for control. Star offered 35 Norwegian crowns ($4.38) a share for NCL, valuing it at about 8.73 billion Norwegian crowns ($1.10 billion). Star will also assume NCL debts of about six billion crowns. The bid was inevitable after Star lifted its shareholding in NCL above 40 percent late on Dec

NCL’s Veitch Named Maritime Person of the Year

In recognition for his efforts to build a vibrant and successful U.S.flag cruise fleet, Colin Veitch, president and CEO of NCL Corporation (NCL) was honored on Friday by the International Propeller Club of the United States as the 2006 Maritime Person of the Year at the organization’s 80th Annual International Convention in Norfolk, Virginia. The award is presented annually to a person who has demonstrated outstanding leadership in furthering and promoting the maritime industry.

NCL Pays Fine for Cruise Pollution

As a result of its voluntary reporting of irregularities, Norwegian Cruise Line Limited (NCL) has reached an agreement with the U.S. Attorney's Office for the Southern District of Florida and the US Department of Justice to plead guilty to a single count of violation of Title 33, U.S.C., Section 1908, for the knowing failure to maintain an accurate Oil Record Book aboard the S.S. Norway prior to May 2000. Under the plea agreement, NCL has agreed to pay a fine of $1 million

NCL Renovates Norwegian Crown

Norwegian Cruise Line (NCL) has changed the name of Crown Odyssey to Norwegian Crown during a multi-million dollar refurbishment to convert the ship into a Freestyle Cruising vessel. Norwegian Crown will enter into service under the NCL fleet this fall and begin sailing from Baltimore as part of the their Homeland Cruising program, also marking their first regular sailings from Baltimore.

Star, Carnival Declare Victory In NCL Matter

Star Cruises and Carnival Corp. declared victory in a takeover bid for Norwegian cruise group NCL Holding, saying they controlled more than 90 percent of the shares. Arrasas Ltd., 60 percent owned by Star and 40 percent by Carnival, said it controlled 247.88 million shares, or 92.6 percent, of NCL under the $1.9 billion stock and debt takeover offer. Under Norwegian law, firms can force minority shareholders to accept a takeover offer by surpassing 90 percent control.

NCL Takes Delivery of Latest Project America Ship

NCL Corporation (NCL) has taken delivery of Pride of Hawai’i as the newest member to the NCL America fleet, with a handover ceremony in Eemshaven, Holland. At the onboard ceremony, Star Cruises Chairman Tan Sri LIM Kok Thay was joined by Colin Veitch, NCL President and CEO; and Bernard Meyer, managing partner of Meyer Werft, the shipyard that constructed the vessel. Pride of Hawai`i is the ninth in a series of 11 such Freestyle Cruising ships delivered as part of a U.S

NCL Outlines Project America Aquisition

Star Cruises will add another 2,000-guest purpose-built ship for Freestyle Cruising to the rapidly modernizing Norwegian Cruise Line (NCL) fleet. The yet-to-be-named ship will be delivered in spring of 2004 in time for the summer season. NCL has contracted with Northrop Grumman Ship Systems (NGSS) to buy all of the materials and equipment and the work performed to date on the two "Project America" vessels under construction at Northrop's Ingalls shipyard in Mississippi