DOCSLIB.ORG

Sea Containers Ltd. Annual Report 2000

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

Sea Containers Ltd. Sea Containers Ltd. Sea Containers Ltd. 41Cedar Avenue P.O.Box HM 1179 Annual Report 2000 Hamilton HM EX Bermuda Annual Report 2000 Tel: +1 (441) 295 2244 Fax: +1 (441) 292 8666 Correspondence: Sea Containers Services Ltd. Sea Containers House 20 Upper Ground London SE1 9PF Tel: +44 (0) 20 7805 5000 Fax: +44 (0) 20 7805 5900 www.seacontainers.com 2860-AR-00 Sea Containers Ltd. Front cover: The company participated in a public tender to Sea Containers Ltd. is a Bermuda company with operating subsidiaries in privatize the Corinth Canal, which divides mainland Greece London, Genoa, New York, Rio de Janeiro and Sydney. It is owned primarily from the Peloponnisos, about 30 nautical miles west of Piraeus, Greece’s principal port. It recently won the tender by U.S. shareholders and its common shares are listed on the New York Stock and expects to take over the 40-year concession from mid- Exchange under the trading symbols SCRA and SCRB. 2001. The canal has about 12,000 ship transits a year and The company is engaged in three main activities: passenger transport, marine is a major tourist attraction. It first opened in 602 B.C. when ships were porteraged along a limestone block road which container leasing and leisure-based operations. Within each segment is a still exists. The water canal was completed only in the 19th number of operating units. Passenger transport consists of fast ferry operations century. The company intends to develop both the marine in the English Channel under the name Hoverspeed Ltd., both fast and and tourist potential of the canal. conventional ferry services in the Irish Sea under the name Isle of Man Steam Packet Company, fast ferry operations in New York under the name SeaStreak, fast and conventional ferry services in the Baltic under the name Silja Line (50% owned) and in the Adriatic under the name SNAV-SeaCat (50% owned). Rail operations in the U.K. are conducted under the name Great North Eastern Contents Railway (GNER), and the company has port interests in the U.K. and Greece. Company description 2 Ship management and naval architects subsidiaries support the passenger transport division and have outside clients as well. Financial highlights 3 Marine container leasing is conducted primarily through GE SeaCo SRL, a Directors and officers 4 Barbados company owned 50% by Sea Containers and 50% by General President’s letter to shareholders 7 Electric Capital Corporation. GE SeaCo operates one of the largest marine container fleets in the world, over one million units. Sea Containers also owns Discussion by division: or partly owns six container service depots, five container manufacturing PassengerTransport 14 facilities and a refrigerated container service business. It owns two container ships which are chartered out in Asia and the Middle East. Leisure 20 The company’s leisure business is conducted through Orient-Express Hotels Ltd., a Containers 23 63% owned subsidiary. Orient-Express Hotels’ common shares are listed on the New York Stock Exchange under OEH. This company has 37 de luxe leisure Property, Publishing and Plantations 26 properties in 15 countries. Most of the properties are owned but some are Finance 28 partly owned, and one tourist train is only managed. One joint venture is Financial review 31 PeruRail, the railways of Peru, which operates tourist trains on the Cuzco/Machu Picchu route and from Cuzco and Arequipa to Lake Titicaca. PeruRail has extensive Shareholder and investor information 58 freight train operations as well. The hotels, restaurants, river cruise ship and tourist trains compete in the top end of the market. Other activities of Sea Containers include property development, publishing, fruit farming in the Ivory Coast and Brazil and a U.K.-based travel agency. 2 SEA CONTAINERS LTD. Financial highlights 2000 1999 Change $000 $000 % Revenue 1,360,737 1,339,069 1.6 Earnings before corporate and finance costs: Passenger transport operations 40,892 69,486 (41.1 ) Leisure operations 68,970 62,187 10.9 Container operations 50,417 61,639 (18.2 ) Other 34,735 206 16,761.7 Total 195,014 193,518 0.8 Net earnings 45,961 49,346 (6.9 ) Total assets at book value 2,608,990 2,515,417 3.7 Long-term obligations 1,628,104 1,700,285 (4.2 ) $ $% Net earnings per class A and class B common share: - basic 2.42 2.63 (8.0) - diluted 2.42 2.62 (7.6) Cash dividends per class A common share 0.975 1.10 (11.3 ) Cash dividends per class B common share 0.878 0.9945 (11.7 ) 3 Directors and officers Back row, left to right: Robert M. Riggs* W. Murray Grindrod* Philip J.R. Schlee John D. Campbell Ian Hilton Member of Carter, Chairman of Grindrod Chairman of Robert Senior Counsel of Private investor Ledyard & Milburn Unicorn Group Ltd. Anderson & Co. Ltd. Appleby Spurling & (attorneys) (a shipping and (a private investment firm) Kempe (attorneys) transportation company) Front row, left to right: Michael J.L. Stracey* James B. Sherwood Charles N.C. Sherwood Executive Vice President President of the Partner of Schroder (retired) and Consultant company Ventures (a private to the company equity investment firm) * member of the Audit Committee 4 SEA CONTAINERS LTD. Officers other than the President Back row, left to right: David G. Benson Senior Vice President, Passenger Transport James G. Struthers Vice President, Controller Christopher W.M. Garnett Vice President, Rail Edwin S. Hetherington Vice President, General Counsel and Secretary Daniel J. O’Sullivan Senior Vice President, Finance and Front row, left to right: Chief Financial Officer Stephen O. Whittam Vice President, Management Information Systems Simon M.C. Sherwood President, Orient-Express Hotels Ltd. Michael V. Scawn Vice President, Funding James A. Beveridge Vice President, Administration and Property Robert S. Ward Senior Vice President, Containers Regional Managers Franco Chresten A. Ian Routledge Robin Lynch Toby G. Grey delle Piane Bjerrum Regional Regional Regional Regional Regional Manager, Manager, Manager, Manager, Manager, Australasia North America South America Mediterranean Asia 5 As a short-term solution to 20-year franchise. Problems of has decided to place responsibility capacity shortage, GNER has the track and signal provider, for rail upgrade in the hands of been able to lease several idle Railtrack, have caused a delay a public-private partnership in Eurostar train sets until its own in the franchise award because which Sea Containers has new trains are delivered. The new the franchise plan depends on offered to participate. Award trains cannot be ordered until major improvements to the rail of the new franchise to GNER is GNER has been awarded a new infrastructure. The U.K. government expected soon. 6 SEA CONTAINERS LTD. President’s letter to shareholders May 1, 2001 Wasa-Umea of Silja Line, Gothenburg-Frederikshavn and Folkestone-Boulogne, suffered losses and had Dear Shareholder, to be stopped. Both we and Silja incurred significant 2000 was a year of mixed results for your company. wind-up expense in the process. We also took the Leisure, rail and the Isle of Man Steam Packet decision to replace our fuel thirsty, low capacity and Company had excellent earnings, while fast ferries, expensive-to-maintain hovercraft on Dover-Calais Silja and marine container leasing were disappointing. with less costly and higher capacity SuperSeaCats James B. Sherwood The year closed with net income of $46.0 million and this created additional wind-up costs. President and Founder on revenue of $1.4 billion compared with net income in 1999 of $49.3 million on revenue of Silja is 50% owned by Sea Containers, and 2000 was $1.3 billion. Diluted earnings per common share our first full year of involvement. Silja’s earnings were $2.42 compared with $2.62 in 1999. A major were adversely impacted by fuel costs, losses on contributor to 2000 earnings was a gain of $36 the Wasa-Umea former duty free sales route and million on the sale of Orient-Express Hotels Ltd. start-up costs of a new fast ferry service on the common shares. Helsinki-Tallinn route. The start-up costs related to the unwillingness of Finnish trade unions to allow Passenger Transport Operations Silja to man the fast ferry on a basis competitive Earnings from these activities collapsed from with other operators. A compromise was finally $69.5 million in 1999 to $40.9 million despite the reached, so operations in 2001 should be less costly. good performance from rail and the Isle of Man Silja has purchased much of its fuel requirements Steam Packet Company. At the risk of over- for 2001 at much lower prices and has stopped the simplification, our fuel bill was $20 million higher Wasa-Umea service and sold the related assets. in 2000 compared with 1999 and we were unable Silja and its main competitor decided to move to recover this from our customers. In April, 2000 their ships from the Finnish flag to another regional fuel prices were coming down, and we expected flag unless Finland adopted 'net wages' agreements them to be little higher for the year than in 1999. comparable to those of other Nordic countries. Then they shot through the roof, and we could Finland has indicated it will adopt such agreements not adjust our fares in time to recover from our shortly and the Finnish trade unions have further customers. For 2001, we purchased forward nearly said they will cooperate to improve productivity. all our fuel at much lower prices, and we have 'Net wages' means that employees receive wages been able to increase fares for 2001 on many routes.
Recommended publications
  • Lower Manhattan

    Lower Manhattan

    WASHINGTON STREET IS 131/ CANAL STREETCanal Street M1 bus Chinatown M103 bus M YMCA M NQRW (weekday extension) HESTER STREET M20 bus Canal St Canal to W 147 St via to E 125 St via 103 20 Post Office 3 & Lexington Avs VESTRY STREET to W 63 St/Bway via Street 5 & Madison Avs 7 & 8 Avs VARICK STREET B= YORK ST AVENUE OF THE AMERICAS 6 only6 Canal Street Firehouse ACE LISPENARD STREET Canal Street D= LAIGHT STREET HOLLAND AT&T Building Chinatown JMZ CANAL STREET TUNNEL Most Precious EXIT Health Clinic Blood Church COLLISTER STREET CANAL STREET WEST STREET Beach NY Chinese B BEACH STStreet Baptist Church 51 Park WALKER STREET St Barbara Eldridge St Manhattan Express Bus Service Chinese Greek Orthodox Synagogue HUDSON STREET ®0= Merchants’ Fifth Police Church Precinct FORSYTH STREET 94 Association MOTT STREET First N œ0= to Lower Manhattan ERICSSON PolicePL Chinese BOWERY Confucius M Precinct ∑0= 140 Community Plaza Center 22 WHITE ST M HUBERT STREET M9 bus to M PIKE STREET X Grand Central Terminal to Chinatown84 Eastern States CHURCH STREET Buddhist Temple Union Square 9 15 BEACH STREET Franklin Civic of America 25 Furnace Center NY Chinatown M15 bus NORTH MOORE STREET WEST BROADWAY World Financial Center Synagogue BAXTER STREET Transfiguration Franklin Archive BROADWAY NY City Senior Center Kindergarten to E 126 St FINN Civil & BAYARD STREET Asian Arts School FRANKLIN PL Municipal via 1 & 2 Avs SQUARE STREET CENTRE Center X Street Courthouse Upper East Side to FRANKLIN STREET CORTLANDT ALLEY 1 Buddhist Temple PS 124 90 Criminal Kuan Yin World
  • Sea Containers Ltd. Annual Report 2001

    Sea Containers Ltd. Annual Report 2001

    Sea Containers Ltd. Sea Containers Ltd. Sea Containers Ltd. 41Cedar Avenue P.O.Box HM 1179 Annual Report 2001 Hamilton HM EX Bermuda Annual Report 2001 Tel: +1 (441) 295 2244 Fax: +1 (441) 292 8666 Correspondence: Sea Containers Services Ltd. Sea Containers House 20 Upper Ground London SE1 9PF England Tel: +44 (0) 20 7805 5000 Fax: +44 (0) 20 7805 5900 www.seacontainers.com 2860-AR-01 Sea Containers Ltd. Contents Sea Containers Ltd. is a Bermuda company with operating subsidiaries in London, Genoa, New York, Rio de Janeiro and Sydney. It is owned primarily by Company description 2 U.S. shareholders and its common shares are listed on the New York Stock Exchange under the trading symbols SCRA and SCRB. Financial highlights 3 Directors and officers 4 The company is engaged in three main activities: passenger transport, marine container leasing and leisure-based operations. Within each segment is a President’s letterto shareholders 7 number of operating units. Passenger transport consists of fast ferry operations Discussion by division: in the English Channel under the name Hoverspeed Ltd., both fast and conventional ferry services in the Irish Sea under the name Isle of Man Steam PassengerTransport 15 Packet Company, fast ferry operations in New York under the name SeaStreak, fast and conventional ferry services in the Baltic under the name Silja Line Leisure 20 (50% owned) and in the Adriatic under the name SNAV-Hoverspeed (50% Containers 22 owned). Rail operations in the U.K. are conducted under the name Great North Eastern Railway (GNER), and the company has port interests in the U.K.
  • SEA CONTAINERS LTD. (Exact Name of Registrant As Specified in Its Charter)

    SEA CONTAINERS LTD. (Exact Name of Registrant As Specified in Its Charter)

    QuickLinks −− Click here to rapidly navigate through this document UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10−K (Mark One) Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2002 or Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to to Commission File Number 1−7560 SEA CONTAINERS LTD. (Exact name of registrant as specified in its charter) BERMUDA 98−0038412 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 41 CEDAR AVENUE, P.O. BOX HM 1179 HAMILTON HM EX, BERMUDA (Address of principal executive offices) Registrant's telephone number, including area code: (441) 295−2244 SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: Name of each exchange Title of each class on which registered 1 9 /2% Senior Notes Due 2003 New York Stock Exchange 1 10 /2% Senior Notes Due 2003 New York Stock Exchange 3 10 /4% Senior Notes Due 2006 New York Stock Exchange 7 7 /8% Senior Notes Due 2008 New York Stock Exchange 1 12 /2% Senior Subordinated Debentures Due 2004, Series A and B New York Stock Exchange Class A and Class B Common Shares, $0.01 par value each New York Stock Exchange Pacific Exchange Preferred Share Purchase Rights New York Stock Exchange Pacific Exchange SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: None. Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
  • Recreating the Golden Age of Rail Travel

    Recreating the Golden Age of Rail Travel

    Features Railways and Tourism Recreating the Golden Age of Rail Travel Odette Anderson Introduction The Orient-Express Group, the epitome of luxury and style, was founded by James B. Sherwood, as a subsidiary of British Sea Containers Limited in 1976. Since then, the Group has expanded to encom- pass 16 luxury hotels in some of the most beautiful locations in the world, three ‘nostalgic’ trains (with another coming into operation at the end of 1998), a unique river cruiser, four safari lodges and two award-winning restaurants. The Golden Age of Travel In 1883, the Compagnie Internationale Venice Simplon-Orient-Express winding through Alps (VSOE) des Wagons-Lits (CIWL), founded by the Belgian engineer Georges Nagelmackers, route and, with the later addition of sleep- world, a reputation which Mr Sherwood launched its first and most famous luxury ing carriages, extended the service to has been keen to maintain. train, the Orient-Express. The Orient- Belgrade, Sofia, Athens and the famous The next major breakthrough, which has Express service set an unparalleled stan- destination of Constantinople (Istanbul), significance in today’s market, was the dard for de luxe trans-European train which has evoked so many romantic addition of the London-to-Paris sector in travel. With the opening of the Simplon novels and films. For a while, during the 1889. A beautifully appointed Pullman Tunnel at the Swiss-Italian border in heady 1920s and 30s, the Paris-Venice train made the journey from London to 1906, the Simplon-Orient-Express began sector of this service was deemed to be Dover, where passengers crossed the operating its historic Paris–Milan–Venice the most luxurious train journey in the Channel before joining Wagons-Lits car- riages in Calais to take them on to Paris.
  • Lower Manhattan June 25 | 4 Pm – 8 Pm

    Lower Manhattan June 25 | 4 Pm – 8 Pm

    PART OF THE RIVER TO RIVER FESTIVAL LOWER MANHATTAN JUNE 25 | 4 P.M. – 8 P.M. FREE NIGHTATTHEMUSEUMS.ORG visited visited visited African Burial Ground National Archives at NYC Municipal Archives National Monument New York City 31 Chambers Street (bet. Centre & Elk St.) 290 Broadway (bet. Duane & Reade St.) One Bowling Green (bet. Whitehall & State St.) nyc.gov/records nps.gov/afbg archives.gov/nyc Visitors can tour The Municipal Archives current exhibit, The Lung Block: A New York City Slum & Its The oldest and largest known excavated burial ground Connects visitors to our nation’s history. Our theme Forgotten Italian Immigrant Community. Join co- in North America for both free and enslaved Africans. is Revolutionaries and Rights and the historic strides curators Stefano Morello and Kerri Culhane at 6 p.m. It began to use in the 17th century but was only taken throughout history. Engage with costumed for an exploration of the history of immigrant housing rediscovered in 1991. The story is both of the Africans historical interpreters throughout the building. Stop and reform efforts in NYC at the start of the 20th whose holy place this was, but also the story of the into our Learning Center to discover many of the century through one community. Guests will also see modern-day New Yorkers who fought to honor these national treasures of New York, go on an “Archival a special preview of an upcoming exhibit with the ancestors. Programming: Tour the visitor center, view Adventure,” and pull archival facsimile documents Museum of American Finance opening this fall.
  • Sea Containers Ltd. Annual Report 1999 Sea Containers Ltd

    Sea Containers Ltd. Annual Report 1999 Sea Containers Ltd

    Sea Containers Ltd. Annual Report 1999 Sea Containers Ltd. Front cover: The Amalfi Coast Sea Containers is a Bermuda company with operating seen from a terrace of the headquarters (through subsidiaries) in London, England. It Hotel Caruso in Ravello, Italy. is owned primarily by U.S. shareholders and its common Orient-Express Hotels acquired the Caruso in 1999 shares have been listed on the New York Stock Exchange and will reconstruct the prop- (SCRA and SCRB) since 1974. erty during 2000-2001 with a The Company engages in three main activities: passenger view to re-opening in the transport, marine container leasing and the leisure business. spring of 2002. Capri and Paestum are nearby. Demand Passenger transport includes 100% ownership of Hoverspeed for luxury hotel accommodation Ltd., cross-English Channel fast ferry operators, the Isle of on the Amalfi Coast greatly Man Steam Packet Company, operators of fast and conven- exceeds supply. tional ferry services to and from the Isle of Man, the Great North Eastern Railway, operators of train services between London and Scotland, and 50% ownership of Neptun Maritime Oyj whose subsidiary Silja Line operates Contents fast and conventional ferry services in Scandinavia. Company description 2 Marine container leasing is conducted primarily through GE SeaCo SRL, a Barbados company owned 50% by Financial highlights 3 Sea Containers and 50% by GE Capital Corporation. Directors and officers 4 GE SeaCo is the largest lessor of marine containers in the world with a fleet of 1.1 million units. President’s letter to shareholders 7 The leisure business is conducted through Orient-Express Discussion by Division: Hotels Ltd., also a Bermuda company, which is 100% owned by Sea Containers.
  • R-08-78 Seastreak Ferry License Transfer

    R-08-78 Seastreak Ferry License Transfer

    Mr. Urbanski offered the following Resolution and moved its adoption: R-08-78 RESOLUTION APPROVING THE ASSIGNMENT OF LICENSES HIGHLANDSNJ.COMFROM SEASTREAK AMERICA, INC. TO SEASTREAK, LLC. CONCERNING THE ANNUAL COMMUTER FERRY SERVICE IN THE BOROUGH OF HIGHLANDS WHEREAS, the Borough of Highlands oversees the operation of the commuter ferry service in the Borough of Highlands, County of Monmouth, State of New Jersey; and WHEREAS, the daily commuter services provided heretofore by SeaStreak America, Inc. have greatly benefited the Borough of Highlands, the economy of the Borough of Highlands and the economy of the County of Monmouth; and WHEREAS, SeaStreak America, Inc. has contracted to sell their ferry commuter business and assets to SeaStreak, LLC, a Delaware limited liability company; and WHEREAS, the representatives of SeaStreak, LLC have expressed its desire to maintain the exclusive ferry commuter service business from the Borough of Highlands; and NOW, THEREFORE, BE IT RESOLVED that the Governing Body of the Borough of Highlands, County of Monmouth, State of New Jersey hereby approve and consent to the assignment of any and all rights from SeaStreak America, Inc. to SeaStreak, LLC regarding any licenses from the Borough; and BE IT FURTHER RESOLVED Ferry License fees previously paid to the Borough of Highlands by SeaStreak America, Inc. shall be considered transferred and paid by SeaStreak, LLC, however, fees for the mercantile license review shall be payable when due. Seconded by Mrs. Burton and adopted on the following roll call vote: ROLL CALL: AYES: Mrs. Burton, Mr. Caizza, Mr. Urbanski, Mayor Little NAYES: None ABSENT: Mr. Nolan ABSTAIN: None Date: April 16, 2008 ________________________________________________ NINA LIGHT FLANNERY Borough Clerk I, ____________________________, Clerk/Deputy Clerk, do hereby certify this to be a true copy of the Resolution adopted by the Governing Body of the Borough of Highlands on April 16, 2008.
  • Sea Containers Annual Report 98

    Sea Containers Annual Report 98

    Annual Report 1998 Sea Containers Ltd. 2860-AR-98 ANNUAL REPORT REVISED 5/5/99 3/6/99 4:50 pm Page 02 Sea Containers Ltd. Annual Report 1998 Contents Company description 2 Financial highlights 3 Directors and officers 4 President’s letter to shareholders 7 Pictured Left: The atrium Analysis of divisions: deck of the Silja Serenade, one of two sister ships operating nightly on the Passenger Transport 12 Stockholm-Helsinki route. Each ship has 986 cabins accommodating a total of Leisure 16 2,852 passengers. Extensive conference facilities are provided, along Containers 20 with seven restaurants, a nightclub, five pubs/bars and duty free shops. Each Pro p e r t y , Publishing and Plantations 24 ship makes a 36 hour round trip, making it into a mini-cruise while at the Fi n a n c e 26 same time offering fast overnight crossings for passengers, their cars and Financial review – SEC Form 10-K 29 freight vehicles. Front cover: The Silja Principal subsidiaries 83 Serenade and her sister ship Silja Symphony operate nightly between Shareholder and investor information 84 Helsinki and Stockholm departing at 6pm and arriving at 9am. From July 1, 1999 there will be a short stop in each direction in the Åland Islands which will qualify passengers for duty free allowances. The withdrawal of duty free allowances on other intra- European routes from July 1st should stimulate demand for the Silja services. ANNUAL REPORT REVISED 5/5/99 3/6/99 4:40 pm Page 04 Sea Containers Ltd. Sea Containers Ltd. is a Bermuda reg i s t e r ed company with regional operating offices in London, Genoa, New York City, Rio de Janeiro, Singapore and Sydney.
  • Seastreak Wall Street with Pier 11, Lower Manhattan, New York, New York January 9, 2013

    Seastreak Wall Street with Pier 11, Lower Manhattan, New York, New York January 9, 2013

    Allision of the Passenger Vessel Seastreak Wall Street with Pier 11, Lower Manhattan, New York, New York January 9, 2013 Marine Accident Report NTSB/MAR-14/01 PB2014-105712 NTIS # National Transportation Safety Board NTSB/MAR-14/01 NTIS # PB2014-105712 Notation 8473A Adopted April 8, 2014 Marine Accident Report Allision of the Passenger Vessel Seastreak Wall Street with Pier 11, Lower Manhattan, New York, New York January 9, 2013 National Transportation Safety Board 490 L’Enfant Plaza, SW Washington, DC 20594 National Transportation Safety Board. 2014. Allision of the Passenger Vessel Seastreak Wall Street with Pier 11, Lower Manhattan, New York, New York, January 9, 2013. Marine Accident Report NTSB/MAR-14/01. Washington, DC. Abstract: This report discusses the allision of the high-speed passenger ferry Seastreak Wall Street with Pier 11/Wall Street in lower Manhattan, New York City, on January 9, 2013. Four passengers were seriously injured, and 75 passengers and 1 deckhand sustained minor injuries. The estimated cost to repair the ferry was about $166,200. The total cost of repairs to the pier was $333,349. Safety issues identified in this report include oversight of vessel operations, control panel design, management of passenger access to stairwells to mitigate possible injuries, the importance of marine safety management systems, and the need for information captured by voyage data recorders in investigating and analyzing accident causes and identifying remedial actions to help prevent their recurrence. The National Transportation Safety Board (NTSB) issues new recommendations to the United States Coast Guard regarding human factors standards for critical vessel controls, the need for operator control of ferry passenger access to stairwells, and the carriage of marine voyage data recorders.
  • Helsinki-Tallinna-Laivaliikenteen Nykytila Ja Tulevaisuus

    Helsinki-Tallinna-Laivaliikenteen Nykytila Ja Tulevaisuus

    HELSINKI-TALLINNA-LAIVALIIKENTEEN NYKYTILA JA TULEVAISUUS LAHDEN AMMATTIKORKEAKOULU Matkailun koulutusohjelma Elämysmatkailu Opinnäytetyö Syksy 2008 Sanna Lisko Lahden ammattikorkeakoulu Matkailun koulutusohjelma SANNA LISKO: Helsinki-Tallinna- laivaliikenteen nykytila ja tulevaisuus Elämysmatkailun opinnäytetyö, 35 sivua Syksy 2008 TIIVISTELMÄ Tämän opinnäytetyön tavoitteena on selvittää Helsinki-Tallinna välisen laivaliiken- teen nykytilaa ja tulevaisuutta. Heinä- ja lokakuussa 2008 kaksi laivayhtiötä on joutunut lopettamaan reittiliikenteensä Helsingin ja Tallinnan välillä. Reitillä vallit- see kova kilpailutilanne, ja reitin tulevaisuudesta on spekuloitu paljon lehdistössä. Työn teoriaosa selvittää Helsinki-Tallinna-reittiliikenteen historian meidän päi- viimme saakka sekä esittelee tällä hetkellä toimivat laivayhtiöt. Laivaliikenteen ny- kytilaa ja tulevaisuutta käsitellään haastattelujen ja lehtiartikkeleiden pohjalta. Tämä opinnäytetyö on laadullinen tutkimus. Selvityksen aineistona on käytetty lehtiartikkeleita, alan kirjallisuutta, omaa havainnointia sekä haastatteluja. Haastat- telut on suoritettu sähköpostitse lomakehaastatteluina Selvityksessä käy ilmi, että kova kilpailutilanne on pakottanut kaksi laivayhtiötä lopettamaan toimintansa ja mahdollisesti lopettamisia tullaan näkemään vielä lisää. Kuitenkin talouskriisin aikana Viro säilyttää asemansa suomalaisten tärkeimpänä ulkomaankohteena. Reitillä voidaan nähdä vielä uusia yrittäjiä, mutta yritykset tus- kin jäävät pitkäikäisiksi. Seuraavien vuosien aikana reitillä tullaan
  • Anthony Caiafa, Et Al. V. Sea Containers, Ltd., Et Al. 06-CV-02565

    Anthony Caiafa, Et Al. V. Sea Containers, Ltd., Et Al. 06-CV-02565

    UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK ANTHONY CAIAFA on behalf of himself and all others similarly situated, Plaintiff, CLASS ACTION COMPLAINT SEA CONTAINERS LTD., JAMES B. SHERWOOD and IAN C. DURANT, Defendants. Plaintiff Anthony Caiafa, individually and on behalf of all other persons similarly situated, by his undersigned attorneys, upon information and belief, based upon, inter alia, the investigation of counsel, which includes, among other things, a review of public announcements made by defendants, Securities and Exchange Commission ("SEC") filings made by defendants, press releases, and media reports, except as to the paragraph applicable to plaintiff which is alleged upon personal knowledge, alleges on information and belief as follows: SUMMARY OF ALLEGATIONS 1. This class action is brought on behalf of all persons who purchased the securities of Sea Containers Ltd. ("Sea Containers" or "the Company") during the period from March 15, 2004 to March 24, 2006 (the "Class Period"). During the Class Period, the defendants represented to the public that Sea Containers' reported financial results presented fairly, in all material respects, the financial position of the Company, and that Sea Containers had a system of internal controls that was adequate to ensure that the Company's reported financial results were accurate. Unbeknownst to plaintiff and the class, the true facts were as follows: a. Sea Containers' reported financial results were inaccurate and cannot be relied upon; b. Sea Containers' internal controls were inadequate to ensure the reliability of its publicly reported financial results; c. Sea Containers had materially overstated the value of (and failed to write down the value of) the value of its investment in the common stock of Orient-Express Hotels Ltd.; and d.
  • WP1 Report Page: 1/137 FASS ______

    WP1 Report Page: 1/137 FASS ______

    WP1 Report Page: 1/137 FASS ___________________________________________________________________________ FASS WP1 REPORT CONTRACT NUMBER : WA - 97 - SC 2206 ___________________________________________________________________________ WP1 : State of the Art IDD D 113.00.08.042.001 Date: 23/12/98 WP1 Report Page: 2/137 FASS ___________________________________________________________________________ CONTENTS 1. INTRODUCTION 3 2. LITERATURE REVIEW 3 2.1. Introduction 3 2.2. Types of fast ships 4 2.3. European and World-wide lines 14 2.3.1. European Community and European Situation 14 2.3.2. World Situation 21 2.4. International, national and local rules 23 2.5. FAS behaviour 28 2.5.1. What is a fast vessel? 28 2.5.2. Dead-weight problems with FASS 29 2.5.3. Seakeeping behaviour 31 2.6. Technologies 33 2.6.1. Review 33 2.6.2. FAS manoeuvring 36 2.6.3. Instrumentation 37 2.7. Accidents / Incidents 41 2.7.1. General topics 41 2.7.2. Wake wash 54 2.8. Education, training and simulation 58 2.9. Comments 61 2.10. Bibliography 68 2.10.1. Introduction 68 2.10.2. Fast ships 68 2.10.3. Lines 69 2.10.4. Rules 70 2.10.5. FAS Behaviour 70 2.10.6. Technologies 71 2.10.7. Accidents / Incidents 72 2.10.8. Training 74 2.10.9. Other topics 75 APPENDIX 2-1 : CHARACTERISTICS OF INFRARED CAMERAS 76 APPENDIX 2-2 : RULES AND REGULATIONS 83 3. INTERVIEWS 90 3.1. Procedure 90 3.2. Comments on interviews to Navigation Companies 91 3.3. Comments on interviews to onboard Personnel 92 3.4.