FINCANTIERI deal bust - STX FRANCE is nationalized

France nationalzed STX FRANCE and let the negotiated deal of STX with FINCANTIERI bust.

Comment by Earl of Cruise

Chantiers de l’Atlantique - Source: Wikipedia

The majority takeover of the French shipyard STX FRANCE by the Italian shipyard company FINCANTIERI has broken down for the time being. As several news agencies report, the shipyard is instead nationalized.

In my view a step saving empolyment and workers rights, as well securing French naval interests. STX FRANCE is last remaining French shipbuilder of a certain quantity. Another reason for the drastic move may be the crucial fiscal situation of France in itself, and the threat when Macron is failing, we all have to deal eventually with the irratic political sorcière Le Pen. Further the sale of ALSTOM´s energy branch to GENERAL ELECTRIC as foreign investor is not well regarded in France. Especially since the start of the Things presidency. The French shipyard had previously other owners, among them AKER.

I am certainly not a fan of FINCANTIERI, even if they are capable of shipbuilding, but they build vessels for owners, maily CARNIVAL CORP., that are not worth to be named ships - so COSTA (DISASTRIA) CONCORDIA. The sinking was not caused by FINCANTIERI, but its uncapable "capitano".

Capzised COSTA CONCORDIA, after the machines did not work any longer the wrecked cruise vessel was drifted by the wind and current onto the rock off Guilio - Source: Wikipedia

The French government did not want to accept the fact that Italian investors, in particular FINCANTIERI, took over the majority stake in STX FRANCE, thus making use of their right of pre-emption shortly before the expiry of a corresponding period, thereby nationalizing STX FRANCE. The French state previously held a third of STX FRANCE shares.Actually the takeover deal with FINCANTIERI was already settled. According to this, French investors should hold 45 per cent of the shares in STX FRANCE, 48 per cent would go to FINCANTIERI and a further 7 per cent to Fondazione CR Trieste. The new French President Emmanuel Macron, however, broke with the agreement negotiated under his predecessor Francoise Hollande.

FINCANTIERI shipyard in Venezia, Sestri - Source: Wikipedia

FINCANTIERI was the last remaining bidder for the shipyard to be sold to FINCANTIERI by her financially raised South Korean parent company STX.The nationalization of STX FRANCE is described as temporary in the agency reports. Now FINCANTIERI is forced negotiating again about the takeover conditions. This will put pressure on the Italian government, which is the main owner of FINCANTIERI.The acquisition of two-thirds of the STX FRANCE shares at a price of EUR 79.5 million is intended to protect the strategic interests of France, the economic and finance minister Bruno Le Maire is quoted. The French government intends to implement a contract whereby French and Italian investors each hold half of the shares in STX FRANCE.

According to HANDELBLATT France will for the future hold its 33% shares in STX FRANCE. The French unions demand for final nationalisation of STX FRANCE.

Comments

Ocean Liners in Movies or Films at Sea (updated Nov 2017)

For liners and the shipping companies movies and films had been a top marketing tool Movies or Films and liners at sea, had been intriguing me since I have read about in my youth in LUXUSLINER - BILDER EINER GROSSEN ZEIT by Lee Server ( THE GOLDEN AGE OF OCEAN LINERS ). But earlier, mot only since my first crossing, I was keen watching movies with liners in it, and disapointed, which was an understatement, when I realized the films have been made in a set ashore in some movie "factory". That was after my first crossing. by Earl of Cruise an essay in progress `Sabrina´, Humphrey Bogart in the office, while LIBERTÉ is sailing out of New York harbor - screenshot Ocean liners, especially those of the luxury category, had been the location of dramas, love stories, thrillers, suspense and catastrophies sinde film was born, or nearly. In this list, the most descriptions are taken from Wikipedia, as I guess no one can expect having seen all these films ... otherwise I w...

Books - Liner scale drawings the story of a long journey to LINERS

Dr. Tamás Balogh told me his long journey with his new book `LINERS ´ of scaled liner drawings. Dr. Tamás Balogh, president of the Hungarian Association of Maritime History ( sorry only in Hungarian ) , Modeling and Tradition, member of the R.M.S. TITANIC Hungarian Research Group start to prepare a graphical presentation of the history of transoceanic passenger liners by scale drawings in 2002. The author leads us through the story from 1838 to the present day using more than 500 profile drawings of 280 liners from 40 shipping companies, with descriptions of the individual liners and the operating companies ( FaceBook LINERS ), which made the collection exceptionally abundant. The collection represents such rarely discussed topics as the history of the late Austro-Hungarian ocean liners or the planned, but ultimately cancelled giant passenger steamers. Earl of Cruise talked with the author, Dr. Tamás Balogh From info to digital art work, here shown for the KOAN MARU - digital ...

Thank You 500,000 readers

HISTORY - FRENCH LINE - COMPAGNIE GÉNÉRALE TRANSATLANTIQUE, a review - Part II Belle Epoque

The COMPAGNIE GÉNÉRALE TRANSATLANTIQUE, known since the Belle Epoque as FRENCH LINE in the English speaking world (or TRANSAT or CGT), had its origins in 1861. by Earl of Cruise E mperor Napoléon III. wanted strengthening the French primacy on the oceans and an adequate mail line for the French mail. The 1855 established COMPAGNIE GÉNÉRALE MARITIME of the Péreire brothers was the core for the new company. This company´s headquarter was, as any major business in France, situated in Paris, while the homeport of the vessels had been Le Havre for the North Atlantic and Marseille for the route to the Orient and Africa. Houseflag of COMPAGNIE GÉNÉRALE TRANSATLANTIQUE S.A. - soure: ebay "On limited space, we put our country on display", a crewmember declared once. And no other line put in more of its national personality into its product than COMPAGNIE GÉNÉRALE TRANSATLANTIQUE . After the French - Prussian/German war of 1870/71 France had to sig...

Luxury Expedition - PONANT has reached 30 years

PONANT , France's number 2 cruise company and world leader in polar expeditions celebrates 30 years of existence. It was on 1 April 1988 that the adventure began in Nantes, where 14 young Merchant Navy officers aged 23 to 29, including Jean-Emmanuel Sauvée, still active as CEO, and Philippe Videau, decided to create the company, which first took the name COMPAGNIE des ÎLES du PONANT (it became COMPAGNIE du PONANT in 2009 and simply PONANT in 2014). PONANT is the only cruise company in France flying the Tricolore. by Earl of Cruise based on an article by Vincent Groizeleau at Mer et Marine LE PONANT in the port of Bonifacio, Corsica - Sourece: Wikipedia ( original seize ) The first ship, built in Villeneuve-la-Garenne, was born in 1991. It is the sailboat and cruise vessel LE PONANT , a modern three-masted ship of 85.5 meters long with 32 cabins, still in service. LE PONANT´s sails became the logo of PONANT. LE LEVANT - Source: Wikipedia ( original seize ) ...

HISTORY - SPIRIT OF PROGRESS the Australian luxury day express train

The Australian luxury day express train SPIRIT OF PROGRESS was the most important express train of VICTORIAN RAILWAYS , a state corporation of Victoria , and one of the most important trains in Down Under. The train is a masterpiece of ART DÉCO design from Down Under. The widely unknown train was in service from 1937 till 1986. First the SPIRIT OF PROGRESS did run from Melbourne to Albury , because of the broad gauge of VICTORIA RAILWAYS (1,600 mm). At the boarder between Victoria and New South Wales the passengers had to leave the SPIRIT OF PROGRESS and go on with their trip to Sidney on the standard gauged (1, 435 mm) train of the New South Wales Railway system. In 1962 the SPIRIT OF PROGRESS could run straight to Sydney. But was withdrawn in 1986, caused by the lack of paying passengers. by Earl of Cruise VICTORIAN RAILWAYS S Class steam locomotive 302 EDWARD HENTY trajecting the SPIRIT OF PROGRESS - courtesy © Weston Langford The late 1930's saw a new era in ...

HISTORY - EUGENIO C. a masterpiece of Italian design and engineering

EUGENIO C., later EUGENIO COSTA, was a masterpiece of Italian design and is an example of beautifully integrated ship design. Her naval architect, Nicolò Costanzi, and her interior designer, Nino Zoncada, worked side by side, or hand in hand, to create a perfect balance and continuity between the vessel's interiors and the exterior profile. EUGENIO C. became a masterpiece of the 60s design and elegance. by Earl of Cruise Some readers had been asking for interior photographies ... here they are. Eugenio C. Tourist Class A pool, looking aft into the wake line - own collection, copy from my LINEA „ C ‟ broshure EUGENIO C. entered service a little more than 50 years ago in 1966. EUGENIO C. was a child of the swinging 60s, when we had the first jet setters, and still style and elegance. And travelling by jet in those days was still an expensive way to travel for few. I am not the only one wishing the same intent and sensibility would be a guide line for present sh...

ss NORMANDIE 1935-1942 XIII - Le NORMANDIE the great triumph and tragic end of the greatest ship of France

NORMANDIE at sea - courtsey coloured by Daryl LeBlanc Le NORMANDIE , the greates ship of France, was a great triumph for the French industry, economy the most gracious ambassador of France - a symbol of cultur and Savoir de Vivre. NORMANDIE never surppassed by any liner. But whom the gods love, they beat him to a tragic ending. In case of NORMANDIE the gods let do their dirty job by careless, ignorant and arrogant US Navy officials and their sub contractors. by Earl of Cruise NORMANDIE had 4 years of living and the chance to bring Glitz, Glamour and Luster into a world that was just in front of an abyss since October 1929. Sailing with NORMANDIE , created to cater primarily the First Clas clientele, and enjoying life on board seems to me today, as a Dance on the Volcano, that errupted in 1939. Longitudinal cutaway of PARIS - own collection copy from a CGT broshure ÎLE DE FRANCE , Cie Gle TRANSATLANTIQUE provoking ART DÉCO liner - own collection ...

ss NORMANDIE 1935-1942 II

© coloured by Daryl LeBlanc by Earl of Cruise NORMANDIE verlässt den Hafen von Le Havre am 29. Mai 1935 Jungfernfahrt Luggage Tags - Kofferaufkleber für das Gepäck der Reisenden mit der NORMANDIE. - NORMANDIEs Maiden Voyage (1935) British PATHÉ Um 18:26 zogen drei Schlepper die NORMANDIE von der Pier. Wenige Minuten später war das Fahrwasser erreicht und die Maschinen der NORMANDIE übernahmen ihre Aufgabe. Mit einem langen Typhon Signal verabschiedete sich die NORMANDIE von Frankreich und den zu abertausenden anwesenden Schaulustigen. Dann wendete man das Schiff zu seinem ersten Stopp in Großbritannien - Southampton. Kapitän René Pugnet wusste, dass die eigentliche Aufgabe für die Besatzung (1.345 Mann), darunter 120 Offiziere und Mannschaften und 184 Techniker, und die Technik des Schiffes noch vor bestand. 972 weitere Servicekräfte, darunter die Küchencrew, drei Ärzte und zwei Krankenschwestern, waren an Bord für das Wohl der illusteren 1.2...

HISTORY - The CUNARD - WHITE STAR Liner rms QUEEN ELIZABETH (1938-1972)

Over years, in my early youth, the QUEEN ELIZABETH was shaping my mind for the perfect ocean liner, despite having made my first experiences with a liner onboard the HANSEATIC (1), ex EMPRESS OF SCOTLAND, ex EMPRESS OF JAPAN. When leaning at the rail of HANSEATIC entering the port, my eyes where every where and I wished to by a camera, I took all in. And when seeing the QUEEN ELIZABETH with my own eyes, the nice behaving young boy turned into a tomboy, that my grandmére was no longer able to tame ... I did draw quite a lot of looks, back then. I found, while on research, this article and thought it interesting publishing in my blog: written and published by John Sheperd at liverpoolships.org editing and comments by Earl of Cruise I ( John Shepard ) joined the CUNARD LINE in March 1962 as an Assistant Purser and sailed the QUEEN ELIZABETH throughout that year, before transferring to the Liverpool-based CARINTHIA in November, where I remained as Crew Purser for the next five...

Search This Blog

Thank You 500,000 readers