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 July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Lukoil Shipped Canadian Crude from Houston

Russian oil major Lukoil has emerged as one of the first companies to buy Canadian crude re-exported from a U.S. port, shipping one cargo last month to its refinery in Augusta,

North Sea OSVs Liable to Detention if MLC Non-compliant

The Maritime Labour Convention (MLC), an international agreement which safeguards the employment rights, working conditions and health care of seafarers, came into force in the UK on 7 August.

Man Arrested over Death of Stowaway in Shipping Container

A man was arrested in Northern Ireland on Tuesday on suspicion of murder after the death of an Afghan Sikh who was among 35 suspected stowaways found in a shipping

Cruise Ship Trends

Propulsion Woes Bring Queen Victoria to Early Refit

Cunard’s Queen Victoria to undergo multimillion dollar refit at Blohm & Voss Shipyard in January 2015, nearly one year ahead of its planned December 2015 maintenance.

Holland America Line Hype on Suite Life

From cozy inside cabins to grand luxury suites, Holland America Line offers a variety of stateroom options to suit every desire. For guests looking to indulge,

MTN Extends Prestige Cruise SatCom Partnership

MTN Communications (MTN) says it has extended the companies' 12-year relationship and will be introducing new communications services to its three-ship Regent Seven

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.1596 sec (6 req/sec)