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
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.
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
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
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
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
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
Worldwide sales of SAM Electronics and L-3 Valmarine’s latest NACOS Platinum series of integrated navigation and automation systems now exceed 130 following commissioning of configurations for Carnival Cruise Lines’ new 130,000-gt liner, Carnival Breeze
According to a report from the Associated Press, the parent company of Norwegian Cruise Line, said on Oct. 26 it filed a registration statement for an initial public offering with the U.S. Securities and Exchange Commission. NCL, which operates 11 cruise ships
The Norwegian Epic departed the STX France Shipyard on 17 June 2010 heading towards New York City for its inaugural event. The power behind the massive vessel is the most innovative power plant that has ever been provided from Caterpillar Marine Power Systems – 3x MaK 12 M 43 C and 3x
According to the SS United States Conservancy awareness campaign, the America’s national flagship, the SS United States, is in imminent danger of being bought by scrappers. This great vessel, which still holds the trans-Atlantic speed record, may soon be destroyed
Norwegian Cruise Line (NCL), based in Miami, has completed the fleet installation of the NAPA Power fuel economy system developed by Onboard-Napa Ltd. At NCL, initial piloting of NAPA Power yielded such positive results that the company decided to expand the use of NAPA Power throughout its
U.S. Coast Guard and State of Hawaii pollution investigators determined this morning there is no threat of marine pollution after a U.S. Navy ship was freed from a grounding site off Honolulu International Airport's reef runway. The USS Port Royal ran aground a half mile off the runway Feb
According to a Reuters report, Star Cruises unit Norwegian Cruise Line (NCL) has cancelled its order for a second F3 cruise ship from shipbuilding group STX Europe, but will move ahead with the first order, STX said on Dec. 18. This 150,000 ton F3 cruise ship
Norwegian Cruise Line (NCL) and STX France Cruise SA, STX Europe's French shipyard, have reached an agreement and are moving forward with the construction of the F3 cruise ship project. NCL and STX Europe have agreed to revise the original F3 order
Eniram Ltd., provider of dynamic decision support systems for the shipping industry announced an agreement with Norwegian Cruise Line (NCL) to deploy Eniram’s Dynamic Trimming Assistant (DTA) in the entire NCL fleet of cruise vessels.
Health Systems International recently piloted an enhanced online appointment solution with Norwegian Cruise Lines to help streamline and expedite the care of crew members once the ship reaches the next Port City. Once the ship medical officer determines a need for additional care to be