P&O To Split Off Profitable Cruise Unit

Thursday, February 03, 2000
P&O Steam Navigation Co. will de-merge its cruises division to form a separate group, allowing it to focus on running its ferries and ports. The new group, the third largest cruise group which includes the Princess Cruise line, will list in New York and London by the end of 2000 and allow traditionally diversified P&O to tap directly into a rapidly growing cruise market. The announcement comes one day after Carnival Corp. -- the world's leading cruise operator -- and Malaysia's Star Cruises joined forces to buy Norwegian cruise firm NCL Holding. P&O also said it would expand its European ports and logistics business via a joint venture with Duisburg Port to develop a major inland terminal and logistics terminal at the German port. In addition, it announced the signing of an agreement to buy the container and general cargo business of Seaport Terminal in Antwerp, Belgium, subject to regulatory approval.
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Canada Opts Out of Arctic Council Meeting

Canadian Environment Minister Leona Aglukkaq stated that a principled stand had been taken by Ottawa against Moscow's intervention in events in Ukraine, reports

Offshore Driller Noble Corp Q1 Earnings Beat Forecasts

Noble Corp., a leading offshore driller, reported first-quarter net income on Wednesday of $0.99 a share, higher than consensus forecasts, as new rigs helped lift revenues.

WireCo Acquires Netherlands’ Endenburg

Company will open new crane distribution center WireCo WorldGroup Inc., the world’s leading producer and marketer of specialty steel ropes and high synthetic ropes,

Cruise Ship Trends

Holland American Line donates $100,000 to Desmond Tutu Peace Foundation

In honor of Archbishop Emeritus Desmond Tutu’s work to spread peace, justice and democracy around the globe, Holland America Line has made a $100,000 donation to

Cruise Industry Disappointed by Findings of Critical LMU Report

New research by the UK's Leeds Metropolitan University (LMU) claims the cruise industry is ignoring its responsibility to the environments and societies it visits.

New Orleans' Biggest Cruise Ship Departs on Inaugural Voyage

New Orleans’ largest year-round cruise ship, the 3,646- passenger 'Carnival Dream', has sailed on its inaugural 6-day cruise from New Orleans. The Port explains

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Sonar
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: 0.1129 sec (9 req/sec)