Star, Carnival End NCL Joint Venture

Friday, March 17, 2000
Malaysia's Star Cruises Plc and Carnival Corp. have terminated a joint venture agreement to buy Norwegian cruise group NCL Holding ASA, paving the way for Star to have full ownership. Star reportedly cancelled the deal with Carnival because it was not prepared to give more control to Carnival on NCL's future direction.

Carnival was offered a minority 40 percent stake to prevent a bidding war, Star officials said, but have since wanted more control than the Malaysian company was prepared to give. Officials added that the termination was amicable, and there were no claims or costs pending against either party. Star currently has a 95 percent stake in NCL, inclusive of an indirect 10 percent.

With the acquisition, Star will be about the third largest cruise operator in the world, alongside Britain's P&O.

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Timing in Doubt on Hapag-Lloyd IPO

German container shipping group Hapag-Lloyd has taken further steps in preparation of a stock market listing and has mandated more banks for the move, but it remains

Rosneft, Gazprom to Receive Four Arctic Fields

Ministry of the Environment sent to the government documents on the transfer of "Rosneft" and "Gazprom" licenses for the development of four more fields on the Arctic shelf,

Virginia-Class Submarine Named USS Iowa

Secretary of the Navy Ray Mabus hosted a ship-naming ceremony today in Ames, Iowa to announce that SSN 797, a Virginia-class attack submarine, will bear the name USS Iowa.

Cruise Ship Trends

Arctic Cruise Ship Brings High-tech, Green Design

A new vessel has been designed as a luxury expedition cruise vessel for worldwide operation including Arctic and Antarctic regions for itineraries up to 21 days with 300 passengers aboard.

ISS Appoints Holmes as VP, Cruise Solutions

Inchcape Shipping Services (ISS) said it is embarking on a plan to develop its cruise business with the appointment of Grant Holmes as Vice President, Cruise Solutions.

MSC Cruise to Homeport in China

MSC Cruises has announced that the MSC Lirica will homeport in Shanghai to serve the Chinese cruise market, through a strategic partnership with CAISSA Touristic Group.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1212 sec (8 req/sec)