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 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
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
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
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
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.
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 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 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
The MAN B&W Diesel Group, Augsburg will supply a total of 10 large diesel engines to the shipyard Meyer Werft for two more cruise vessel newbuildings of Norwegian Cruise Line (NCL), Miami. The 12V48/60B engines, each with an output of 14,400 kW (19,600 HP), will be built at MAN B&W Diesel’s headquarters in Augsburg and by 2006 delivered to the German Meyer Werft in Papenburg. MAN B&W, NCL and Meyer Werft are associated by many years of partnership
Port Canaveral will homeport Norwegian Cruise Line’s (NCL) largest ship and currently the third largest in the world—the Norwegian Epic—starting in November 2016, offering seven-day Eastern and Western Caribbean itineraries
Former President and Chief Operating Officer of Darden Restaurants Joins Norwegian Cruise Line Norwegian Cruise Line Holdings Ltd. announced today that Drew Madsen has joined the company as president and chief operating officer of Norwegian Cruise Line
No tankship orders noted the past week by Clarkson Hellas in their latest S&P Weekly Bulletin, but no lack of orders in the dry bulk carrier market, all from Far East shipbuilders. Dry bulk carriers Foremost Maritime are understood by Clarkson Hellas to have added a further four 180
Norwegian Cruise Line says it has reached an agreement with MEYER WERFT GmbH of Germany to build two new Breakaway-Plus class cruise ships for delivery in the second quarter 2018 and the fourth quarter 2019. Each ship will be 164,600 gross tons and include 4,200 passenger berths.
On Earth Day, Norwegian Cruise Line NCL) celebrated key achievements from the past year that, as a part of its Eco-Smart Cruising program, help preserve the world's oceans. The company says that for more than four decades, it has committed to the protection of the oceans through sustainable
ABB, the leading power and automation technology group, won orders worth $180 million in 2013 to deliver complete electrical power plants and propulsion systems for six new cruise liners that include its latest-generation Azipod XO units. The orders make 2013 the best-ever year for ABB in cruise
Pod propulsion system Azipod® was the propulsion system of choice for 6 new cruise liners in 2013, say manufacturers, ABB. The company won orders worth $180 million in 2013 to deliver complete electrical power plants and propulsion systems for six new cruise liners that include its
The global cruise sector is forecast to exhibit dynamic growth over the next decade, according to Ocean Shipping Consultants’ (OSC) latest report: 'World Cruise Ports and Shipping'. Excerpts as follows: OSC expects annual passenger demand to rise from around 20
Norwegian Cruise Line (NCL) confirms an order for a second “Breakaway Plus” cruise ship from Meyer Werft of Papenburg, Germany for delivery in spring 2017. Along with the first Breakaway Plus ship, which is scheduled for delivery in October 2015
The Marine Engineers’ Beneficial Association (MEBA) raises awareness of U.S. mariners in the cruise industry in light of recent media interest. MEBA say it is proud to represent U.S. Merchant Mariners on the only U.S.-flagged and U.S
The Marine Engineers’ Beneficial Association Raises Awareness of U.S. Mariners in the Cruise Industry in Light of Media Coverage The Marine Engineers’ Beneficial Association (M.E.B.A.) will represent U.S. Merchant Mariners on the only U.S.-flagged and U.S
Norwegian Breakaway, the largest ship ever constructed in Germany, floated out of Meyer Werft’s covered building dock II at the end of February. The luxury cruise ship will undertake sea trials before her delivery to the owner and passage to her home port of New York by May 7th
TEAM Ports & Maritime wins New York City Economic Development Corporation (NYCEDC) & Turner Construction Corporation contract. The contract is for the design, manufacture, assemble, transport and installation of two HYDRA Passenger Boarding Bridges (PBBs) at the Manhattan Cruise
Corporate Attorney Kritzman Joins Firm as Shareholder. Fowler White Burnett, P.A. said that Mr. Robert Kritzman has joined the firm as a Shareholder at the Fowler White Burnett downtown Miami office working in their general practice group.
Norwegian Cruise Line (NCL) orders new cruise liner from Germany's Meyer Werft with option for a second. The ship's contract price is approximately euro 700 million and the company has export credit financing in place which was arranged and underwritten by KfW IPEX-Bank GmbH of Germany