P&O
Company type | Public |
---|---|
Industry | Transport |
Founded | 22 August 1837 |
Founder | Arthur Anderson |
Defunct | 7 March 2006 |
Fate | Acquired by DP World |
Headquarters | London, England |
Key people | Sir John Parker (Chairman) |
Products | Ferries, port services, logistics services, real estate: |
Revenue | £2.40 billion (2004) |
Number of employees | 22,038 (2004) |
Footnotes / references P&O House Flag |
P&O (in full, The Peninsular and Oriental Steam Navigation Company
P&O Cruises was sold in 2000, and is now owned and operated by Carnival Corporation & plc, although the trademark for "P&O Cruises" is still held by the Peninsular and Oriental Steam Navigation Company and used under licence.[2] The former shipping business, P&O Nedlloyd, was bought by and is now part of Maersk Line.
History
Early years and expansion: 1822–1900
In 1822,
The company flag colours are directly connected with the Peninsular flags: the white and blue represent the
In 1837, the business won a contract from the
P&O first introduced passenger services in 1844, with a leisure cruise departing from Southampton to the Mediterranean.[3] These voyages were the first of their kind and the forerunner of modern cruise holidays.[3] The company later introduced round trips to destinations such as Alexandria and Constantinople and underwent rapid expansion in the later half of the 19th century, with its ships becoming larger and more luxurious.[4] One particularly notable ship of the era was the SS Ravenna, built in 1880, which became the first ship to be built with a total steel superstructure.[5]
In 1847, shortly after the
Early 20th century years: 1900–1945
until 1960.In 1932, P&O expanded their passenger operations to Australia, with the introduction of Strathaird, which departed on a cruise to Brisbane and Norfolk Island.[3]
Eighty-five of the company's ships were sunk in the First World War and 179 in the Second World War.
Post war: 1945–2000
After 1945, the passenger market declined to India, but boomed to Australia with the advent of paid-passages for literate and healthy European immigrants known as
P&O and Orient Line were formally merged in 1960 to form P&O-Orient Lines. In 1964, Orcades and Oronsay were transferred to the P&O fleet. The name Orient Line was dropped altogether in 1966 when Orsova and Oriana were also transferred to the P&O fleet.
In 1969,
With the development of low-cost air travel and the rising operating costs of ocean liners in the 1970s, P&O refocused its passenger operations on cruise ships.[9] This culminated in the foundation of the subsidiary company P&O Cruises in 1977, under which P&O carried out its subsequent passenger operations.[9]
In 1972, P&O formally absorbed the
In 1975, P&O established Pandoro for operation of the company's Irish Sea RO-RO routes. Pandoro was an acronym for P and O Ro. In 1998 P&O European Ferries (Irish Sea) Ltd was formed by the internal merger of Pandoro Ltd. and P&O European (Felixstowe) Ltd., to run the Irish Sea routes.
In 1987, P&O took over the European Ferries Group Plc—to which it had previously sold its cross channel ferry services in 1985—which traded as Townsend Thoresen, and renamed the company P&O European Ferries.
Over the last quarter of the Twentieth Century P&O diversified into construction management (through the
Fastcraft is the name given to the service implemented after the split-up of P&O European Ferries in 1998. The first ship was called Superstar Express (entered service in 1998)[10] and sailed alongside Pride of Cherbourg and Pride of Hampshire between Portsmouth and Cherbourg.
Herald of Free Enterprise incident
On 6 March 1987, the roll on/roll off ferry,
The incident resulted in a coroner's inquest and a public inquiry. A jury at the coroner's inquest found a
The cases surrounding the incident set a precedent for the prosecution of corporations in cases of manslaughter and criminal negligence in English law.
Divestments: 2000–2005
On 23 October 2000 P&O divested its cruise business to form
Takeover by DP World: 2006
On Sunday 30 October 2005 The
Takeover controversy: 2006
When the merger was approved by the US government in February 2006, the Bush Administration came under fire from critics who questioned the decision to allow an Arab-owned company to oversee US ports.
The move placed the leasehold interests of P&O in
Several US states sought ways to block the move, citing security concerns as well as the possibility of losing related leases of foreign ports.[19] President Bush stated he would veto any legislation created with the intent to interfere with the change.[20]
Sale of assets: 2006
On 9 March 2006, DP World agreed to sell its terminal operations at the American ports to an American company. On 11 December 2006 it was announced that AIG Global Investment Group, a division of insurance giant AIG, had acquired P&O Ports North America for an undisclosed sum.[21] Investing in infrastructure had become the latest "hot" item for financial firms, and P&O represented a high-profile asset. AIG GIG was an experienced infrastructure investor globally, having also recently acquired the London City Airport.[22]
On 16 December 2006 P&O Dover (Holdings) Limited, a subsidiary of P&O and DP World sold its shares Phase 1 (22.5%) and Phase 2 (owned indirectly 22.5% shares), a port of
Operations
P&O (aka DP World) manages two
- a container port at the north end of Southampton, and
- one on the north bank of the Thames, in Essex.
P&O operates the following ferry companies:
See also
Other port operators in the UK include:
- Associated British Ports
- Peel Ports
- PD Ports
- P&O Maritime Services
References
- ^ "THE PENINSULAR AND ORIENTAL STEAM NAVIGATION COMPANY overview - Find and update company information - GOV.UK".
- ^ "Trade mark details for Trade mark number UK00003867302".
- ^ a b c "History of P&O". P&O Cruises Australia. Archived from the original on 6 October 2019. Retrieved 27 July 2019.
- ^ "Comfort at Sea". P&O Heritage. Retrieved 27 July 2019.
- ^ a b "P&O Timeline". P&O Heritage. Retrieved 27 July 2019.
- ISBN 978-1-84779-145-0. Retrieved 5 November 2013.
- ^ "Postwar Passengers". P&O Heritage. Retrieved 27 July 2019.
- ^ "Ocean Liner Museum: The Ocean Steamship Company". Archived from the original on 7 January 2009. Retrieved 28 March 2009.
- ^ a b "From Liners to Leisure". P&O Heritage. Retrieved 26 July 2019.
- ^ "The P&O Express to Troon". Archived from the original on 21 September 2009. Retrieved 26 December 2008.
{{cite web}}
: CS1 maint: unfit URL (link) - ^ 1987: Zeebrugge disaster was no accident - BBC On This Day 8 October
- ^ Taken from Page 2, Section 3.1 of the DoT Formal Investigation, Report of Court No 8074 - "At the time of the casualty the HERALD was owned by Townsend Car Ferries Limited (herinafter "the company") which was a subsidiary of the Peninsular and Oriental Steam Navigation Company (hereinafter "P&O") :: therefore the reference to P&O having a disease of sloppiness is incorrect, as Justice Sheen referred to "the company" - and not "P&O"
- ^ P&O plan to demerge its cruise division
- ^ P&O sails away from Nedlloyd Venture
- ^ P&O agrees bid from Dubai Ports - BBC NEWS - Tuesday 29 November 2005, 17:47 GMT
- ^ Bidding war stokes P&O's shares - BBC NEWS - Friday 27 January 2006, 17:27 GMT
- ^ P&O shareholders back Dubai bid - BBC NEWS - Monday 13 February 2006, 16:23 GMT
- ^ Concern over Control of U.S. Ports - NPR - February 20, 2006
- ^ "ABC". Archived from the original on 26 February 2006. Retrieved 22 February 2006.
- ^ Bush Defends Deal to Entrust Ports to Dubai Firm - NPR - February 21, 2006
- ^ AIG unit buys P&O US marine terminal ops from DP World - Forbes - 12.11.06, 9:50 AM ET
- ^ "London City Airport news release". Archived from the original on 28 September 2007. Retrieved 12 December 2006.
- ^ "2006 Annual Report" (PDF). China Merchants Holdings (International). Retrieved 23 March 2010.
External links
- P&O Heritage Collection Official site
- Clydeside built P&O ships
- History of P & O at the Wayback Machine (archived 16 June 2005)
- A travel journalist's article about P&O Cruises
- Documents and clippings about P&O in the 20th Century Press Archives of the ZBW
- Third Class/Steerage Passengers' Contract Ticket P. & O. Line SS Commonwealth dated 18 August 1921 GG Archives