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

People & Company News

BAE Systems to Expand San Diego Shipyard

BAE Systems announced it will invest approximately $100 million to expand drydocking capabilities at its San Diego shipyard.   The investment, which will include

TDDCL Seeks Input for New Repair Yard

Trinidad Dry Dock Company to develop new ship repair yard at Port of Spain; company requests Expressions of Interest for Environmental Impact Assessment and Geotechnical

NORDEN CEO: Bulk Market Challenges to Continue

Klaus Nyborg, interim CEO at Denmark-based dry bulk and product tanker shipping company Dampskibsselskabet NORDEN A/S, expects difficult dry cargo market conditions

Cruise Ship Trends

Holland America Line Ships Score 100

On recent routine United States Public Health inspections (USPHI) conducted by the U.S. Centers for Disease Control and Prevention, Holland America Line’s ms Statendam,

Carnival to Add Nine Ships to Cruise Fleet

Carnival Corporation enters into strategic partnerships to add nine cruise ships to its fleet over a four-year period starting in 2019; shipbuilders Fincantieri

US Cruise Industry Preparing for Cuba

U.S. cruise lines are preparing to enter uncharted waters -- Cuban waters.   Although U.S. tourists are still technically banned from visiting the Caribbean country,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1660 sec (6 req/sec)