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DP World buys P&O (again!)

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On 20/02/2019 at 11:31, hf_uk said:

Thanks Jonno. Excuse my ignorance, so other than sharing the name, the Cruise side has absolutely nothing to do with the Ferry operation then in terms of budgets/marketing etc?

Absolutely nothing.

However, P&O Cruises flies the P&O houseflag under licence from P&O Ferries which owns the brand.

It’s a risk for both brands; in the last week was a Daily Express typical sloppy journalism online report talking about ferry mini cruises from Hull and use a photo of Britannia, P&O Cruises’ flagship and the combined size of Prides of Hull, Rotterdam and York together. So if something happened to one it affects the other.

To confuse it even more, P&O Cruises Australia is operated by Carnival Australia which is part of Carnival Corporation. It has absolutely nothing to do with P&O Cruises (in the U.K.) which is owned and operated by Carnival PLC - the continuation of P&O Princess - which is the British part of the dual listed company that has its own CEO and Chairman separate (to an extent!) from Carnival Corp in the US.

Even the branding is different, although the Australian ships is registered in London whilst the British ones are registered in Hamilton, Bermuda except for Britannia.

It’s all very complex!

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To add, P&O Princess the company (now Carnival Plc) was the demerged cruise business from the rest of P&O, including the ferries. Originally it was created to merge the cruise business with Royal Caribbean, instead it merged with rival Carnival.

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On 20/02/2019 at 15:17, Gareth said:

Done! 😁

Should be P&O Ferries.   As P&O Cruises are owned by Carnival.

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5 hours ago, nick hall said:

If I remember correctly Vickers sold Rolls Royce motors to Volkswagen. Rolls Royce (aero engines) then made a deal with BMW for use of the name/logo etc.That meant Volkswagen couldn't use the Rolls Royce name. Volkswagen now manufacture Bentleys at the old Rolls Royce site in Crewe, BMW now manufacture Rolls Royce at a newish site in Goodwood.

BMW outbid them. The licence deal to allow BMW to use the logo & name was made in '77 by the original holding group to allow them to apply the name to German manufactured turbines used in Luftwaffe Tornado's.

Even if VW had won the bid for RR motorcars from Vickers there was still no guarantee the RR Holdings would have allowed them to use the branding BMW involvement or not

Point is RR still have a big say in vehicle production and are in a strong position in relation to the marque... As VW prove everyday with Porsche, Audi, VW, Skoda & Seat, it's only the badge which makes the difference... and Rolls Rolls Royce Holdings own the badge.

5 hours ago, Millsy said:

It was a good few years ago now but Vickers bought Cosworth Engineering and sold it  at about the same time 1999?? as they ditched RR Cars to I think Ford. I heard from someone who should know that when the Cosworth engineers were asked to go along to the RR works at Crewe they were staggered at how antediluvian it all was. What is left of Vickers is now owned by Rolls -Royce PLC! The choice of the Goodwood site, I was told,  had much to do with the high level of boat finishing skills in the area. One only wishes the cars had at least a little element of style. 

Cosworth in Wellingborough is owned by VAG, they spend a fair bit of time to-ing and fro-ing from Park Farm to Seat racing on Brackmills in Northampton.

When I left RR in 2010 I did a bit of work there later in the year with the view to working for them before settling on a P/T set up with Alstom... Couldn't be doing with the travelling from Pembrokeshire.

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4 hours ago, Seashore said:

P&O Cruises (in the U.K.) which is owned and operated by Carnival PLC

Ever so slight correction, Seashore - just me being pedantic 😉

P&O Cruises (along with Cunard) is indeed owned by Carnival Corporation & PLC, based in Miami (listed on both the NY and London stock exchanges) but operated by Carnival UK - who retain full executive control - based in Southampton.

Edited by BAI4

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Returning to the original, IIRC when DP World first arrived on the Thames to build Gateway [downstream from Tilbury, at Corringham] they emphasised the global nature of their container ports business.

It was presented as a standard-setter, an essential partner in the global logistics business, rather than simply an infrastructure and real estate investor, which was more the model of the parent business. On that basis, acquiring the ferry business makes perfect sense.

 

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