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

Germany and HAPAG - A Journey through History

HAMBURG-AMERIKANISCHEPACKETFAHRT ACTIEN GESELLSCHAFT - HAPAG or HAMBURG AMERICA LINE is reflecting, as Germany, the LLOYD of Bremen, two times of rsing and two times of devasting downfall and a third rise. BORUSSIA , 1856, First Day Cover 1956 of Deutsche Bundespost - own collection Once Germany´s biggest shipping line HAPAG / HAMBURG-AMERIKANISCHE PACKETFAHRT ACTIEN GESELLSCHAFT-LLOYD, merged with it former old Hanseatic rival NORDDEUTSCHER LLOYD in 1970, to now HAPAG-LLOYD, had its peaks and downs, but rose each time on its own to new hights, without any state subsidies. As German mail subsidiaries did never cover the costs for purchasing or mainting the vessels ordered for the specific German mail lines. by Earl of Cruise In this article I used most German Wikipedia links, as they proved to be mostly of better research quality, and surprisinf to me, some English lines and liners have only German written articles, for the others, English Wiki links are to find

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 shipown

Thank You 500,000 readers

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

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

HISTORY - Traveling with airliner LZ 129 HINDENBURG was the most luxurious airtravel

The real airliner LZ 129 HINDENBURG enabled the most luxurious airtravel for decades. Imagine, gliding through the air while the landscape or the sea below can be seen ... LZ 129 HINDENBURG marks the climax of airship construction. On May 6, 1937, the story of civilian airship ended in a tragedy. In Lakehurst, New Jersey, the largest flying object and has been with the similar sized LZ 130 GRAF ZEPPELIN II the most luxurious of all time. How this came about can be reconstructed logically, a series of fatal physics concatenations . The airship LZ 129 HINDENBURG marks the climax of airship construction. It was in its time the fastest and most exclusive traveling object between Europe and America. The challenges of the construction of the giant of the heaven were immense. by Earl of Cruise LZ 129 HINDENBURG, 1936, in Lakehurst - digital copy of a coloured cover photo, originally by Bill Schneider, published in Dan Grossman´s book ` ZEPPELIN HINDENBURG: AN ILLUSTRATED HI

ss NORMANDIE 1935 - 1942 IX

s s / te NORMANDIE starting from cold Owners: COMPAGNIE GÉNÉRALE TRANSATLANTIQUE BUILDERS: PENH Ö ET, St. Nazaire, France by Stephen Carey © , editing by Earl of Cruise This document is almost exclusively about the engineering aspects of NORMANDIE , mainly on how to start her up from cold. If you are looking for photos of the passenger spaces, there is a plethora of them on the web, in Facebook groups - Admirers of the ss Normandie , ss Normandie photographic file , The French Ocean Liners / Les Paquebots Fran ç ais , ss Normandie , GREAT LINERS OF THE PAST & PRESENT , and others, Pinterest and in articles about NORMANDIE here in the blog, please see at the end of the article. Using "ss" for NORMANDIE is quite incorrect, as NORMANDIE was a Turbo Electric vessel and not a steamship, therefore NORMANDIE should be adressed as "te". by Earl of Cruise te / ss NORMANDIE berthed in Le Havre, Gare Maritime May 29th, 1935 - colouring courtesy

HISTORY - ts / ss BREMEN and ts / ss EUROPA

Germany’s two luxury liners, BREMEN and EUROPA , have not only played an important part in their country’s mercantile revival, but have added also an immortal chapter to the history of transatlantic travel. Copy from Shipping Wonders of the World From part 6 , published 17 March 1936 editing by Earl of Cruise ss / ts BREMEN in her early years - Source: Shipping Wonders of the World/Bundespresse Archiv The PRIDE OF A NATION - the NORDDEUTSCHER LLOYD quadruple-screw turbine express liner BREMEN . The keel of this ship was laid in June 1927. Her launch took place in August, 1928. In less than a year later, the Bremen made her first voyage to America, when she crossed the Atlantic from Cherbourg to New York in four days seventeen hours forty-two minutes, thus setting up a new record and gaining the coveted “Blue Riband”. During the passage the Bremen attained an average speed of 27.83 knots. ss / ts BREMEN in her early years - Source: W ikipedia For the populac

HISTORY - One of the earliest steam ship companies in the world ÖSTERREICHISCHER LLOYD was founded in 1833 - III 1914-19 becoming LLOYD TRIESTINO

After the assaination of crownprince Erzherzog Franz Ferdinand and his wife in Sarajewo , all European powers did run with `eyes wide shut´ in the first catastrophy of the 20th century. This war, caused equally by all the imperial powers, which was thought " to end all wars in the future ", seen as a " clearing thunderstorm ", caused with the Versailles Treaty only more war, grief and sorrow, with a final push from the Great Depression of the 1930s. LLOYD express steamers PRINZ HOHENLOHE and BARON GAUTSCH in Pola - own collection, copy from a postcard Even if the signals for this war could be seen as Menetekel (portent) at the walls, everybody was taken by surprise. Especially the economy, as nobody really was prepared for this war. by Earl of Cruise At the beginning of the First World War many ships of LLOYD AUSTRIACO were scattered on the oceans of the world. Some ships had to seek shelter in neutral ports, numerous were used by the k. u. k. Kriegsmar

HISTORY - AUSTRO AMERICANA the Austro-Hungary shipping line into the new world

Not many know about the Austro-Hungary shipping line, AUSTRO AMERICANA , which sailed out of Trieste to the Americas. Austro-Hungary and shipping? You may ask ... you may have heard about Vienna Walz, coffe house culture, Hotel Sacher and its famous chocolate cake, the Prater, chateau Schönbrunn, the Fiakers - the famous horse carriages and such things. But passenger shipping lines? There has been AUSTRO AMERICANA and ÖSTERREICHISCHER LLOYD , renamed in LLOYD TRIESTINO after 1918 and after purchased by EVERGREEN renamed in Italia Marittima. The actual company ÖSTERREICHISCHER LLOYD is a new formed management company situated in Austria. by Earl of Cruise KAISER FRANZ JOSEH I. the biggest liner of AUSTRO AMERICANA - own collextion Parts of my family lived for a long time in the Austro-Hungary empire, which can be qualified as a "United Nations of the Balkan". Having traces into Austria-Hungay, the realm of Hungary in special, it is a pleasure for me making thes

Search This Blog

Thank You 500,000 readers