NCL Board Dumped, Lund Appointed
Star Cruises and Carnival Corp. tightened their grip on Norwegian cruise group NCL Holding during February by ousting the board and appointing Norwegian lawyer Ole Lund as the new chairman.
Lund, who is also chairman of state oil firm Statoil, will head a new six-member NCL board. Star and Carnival control about two thirds of NCL stock under a joint 35 crowns per share offer valuing NCL stock at about $1.1 billion. In addition the two will assume NCL debts of about $800 million.
The new board, voted in by an extraordinary shareholders' meeting in Oslo, comprises Lund, Star chairman Lim Kok Thay; Star chief executive, Colin Au; Fook Yew; Colin Veiteh; British lawyer Peter Brooks; and Norwegian lawyer, Rolf Johan Ringdal.
Star, the world's fifth largest cruise operator, wants Veitch, a former senior vice president of Princess Cruises, to be chief executive of NCL, which is fourth largest.
Other stories from March 2000 issue
Content
- A broader-based payback from R&D page: 8
- An Effective Shield from Criminal Prosecution page: 14
- MARCO Signs Contract With S.F. Bar Pilots page: 16
- MAN Acquires Alstom Diesel Engine Ops page: 16
- South Korean January Ship Orders Increase page: 17
- Dockwise Awarded Hanjung Contract page: 17
- The U.S. Navy - Reducing Shipboard Planned Maintenance page: 20
- Safety Charter Targets Old Tankers, Flags Of Convenience page: 20
- High Times Again in Singapore? page: 22
- Ship Repair Yards Ask: Where's the Funding? page: 26
- Ailsa-Troon Continues To Climb page: 27
- Irving Shipbuilding Repairs Wide Selection page: 29
- Vessels Make Pit Stop At Bay Ship page: 30
- Tampa Bay Shipbuilding - Gearing Up For A Boom page: 31
- Bollinger Puts Its Expertise To The Test page: 32
- Turbo-Technik: Rescuing A "Prinsesse" page: 33
- Smooth Sailing page: 34
- Seacoast Delivers Package To Halter page: 34
- JRC Radar Offers Plotter System page: 34
- SKYbolt Enables Real Time Processing page: 38
- Transas Moves Towards Auto Integrated Navigation page: 44
- Litton To Supply For New Passenger Ferries page: 44
- Riverboat Casino Ratings Buoyed by Regulations, Demand page: 48
- Washburn & Doughty: Developing New Process To Meet Changing Needs page: 49
- Fictitious Tugboat Character Goes Live In Canada Yard page: 51
- Bollinger opts for Oracle page: 52
- BIMCO Introduces Millennium Software page: 55
- Ship Safety Database Set Up To Avoid Future Disasters page: 55
- WindShip Technology Promises Fuel Saving s page: 56
- Recore Classified As Fireproof For Vessels page: 56
- Sandwiched Composites Offer Promise For Marine Industry page: 57
- Fiberline Offers GRP For Use In Hostile Environs page: 57
- AMT Marine To Construct Utility Boat page: 59
- Sneed Delivers Pushboat To Blessey Marine page: 59
- Alert in Valdez Harbor page: 60
- 3.MAJ Delivers Innovative Tanker page: 61
- Robert Allan Design To Be Built For Brusco page: 62
- New Surface Cleaning Process Saves Navy On Maintenance page: 65
- Jotun Goes Tin-Free page: 66
- Se-Cliff Enhances With CoreKote 2000 page: 69
- Japan: Advanced procedures sustain industry in turbulent markets page: 74
- JAMSTEC Deepsea Exploring Ship Contract Announced page: 75
- Power management with distributed intelligence page: 76
- Chamber Of Shipping Requests Entries page: 77
- The Erika oil spill - using the incident to positive effect page: 80
- NCL Board Dumped, Lund Appointed page: 92
- Litton Integrates Marine Ops In New Company page: 92
