Sea Containers Approves Hotel Subsidiary Spin-Off

Friday, June 22, 2001
Sea Containers Ltd., which runs marine passenger transport and leases equipment, on Friday said its shareholders approved resolutions to permit the spin-off of its luxury hotel subsidiary Orient-Express Hotels Ltd.

Sherwood also said net income at Sea Containers for the first half of 2001 should top that of the prior year's first-half, while Orient-Express Hotels expects to report higher earnings for 2001 than for 2000.

Sea Containers' president James Sherwood said it was still the company's intention to divest the majority of its shares in Orient-Express around the end of the year. Before that time, the company plans to sell about 5 million shares, in blocks. Hamilton, Bermuda-based Sea Containers said it could sell about 6.6 million shares without threatening the spin-off's tax-free status. It said it will use proceeds of the sale of 5 million shares to cut down on debt and increase capital.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Propulsion

The Next Generation of Hull Performance Management

Hull performance monitoring solutions can offer significant fuel savings potential, a fact that is prompting growing interest from the maritime industry. To spur

Honda Marine on Display at Miami Boat Show

Honda Marine is set to market its complete range of outboard marine four-stroke engines at the 2016 Miami International Boat Show, February 11-15, 2016.   At this year’s show,

Next Generation Marine Power & Propulsion Conference

The Next Generation Marine Power & Propulsion Conference will be held at the Grand Harbour Hotel, Southampton, U.K. from April 26 to 28, 2016.    This unique

Finance

Funding Secured for Project to Deepen the Delaware River

Dennis Rochford, president of the Maritime Exchange for the Delaware River and Bay, announced that President Obama’s FY17 proposed budget includes $33 million for the Delaware River Deepening Project.

Top 10 Shipowning Nations by Value

VesselsValue has provided a list ranking the top shipowning nations by value, including the percentage change difference against 2015 figures. Although the

Port of Hamburg Reports Bulk Cargo Jump in 2015

The Port of Hamburg reports higher bulk cargo throughput and strong growth in rail and inland waterway seaport-hinterland traffic in 2015 – downturn in container handling.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar Winch
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: 0.0713 sec (14 req/sec)