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Hurtigruten ASA
Hurtigruten AS is a Norwegian coastal ferry service and cruise line headquartered in Oslo, Norway. It operates '' Hurtigruten'', the coastal ferry service along the Norwegian coast from which it takes its name. In 2020, 81% of the company was owned by TDR Capital. The CEO is Daniel Skjeldam. History Hurtigruten AS is the result of a merger between the two previous operators of the Hurtigruten service, Troms Fylkes Dampskibsselskap (TFDS) and Ofotens og Vesteraalens Dampskibsselskab (OVDS). TFDS was founded in 1866, and OVDS was established in 1868. The two companies merged in March 2006 to form Hurtigruten Group ASA, and twelve months later the merged entity assumed the name Hurtigruten ASA. In 2012, the company headquarters was moved from Narvik to Tromsø. In October 2014, TDR Capital purchased a majority ownership of Hurtigruten. In 2015, the legal form of Hurtigruten was changed from ASA to AS. Operations Coastal express service Hurtigruten AS is the sole opera ...
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Richard With
Richard Bernhard With (18 September 1846 – 9 February 1930) was a Norwegian ship captain, businessman and politician for the Liberal Left Party. He is known as the founder of the shipping companies Vesteraalens Dampskibsselskab and Hurtigruten. Background Richard Bernhard With was born at Tromsø in Troms, Norway. He was a son of shipmaster Sivert Regnor With (1810–97) and his wife Anne Bergitte Dahl (1814–ca 1875). His father was of Dutch descent and became a pioneer in shipping from Tromsø. With took the mate's examination in Trondheim during 1864, and then spent eight years at sea. In 1873 he settled in Risøyhamn as a merchant. In September the same year he married Oline Sophie Wennberg (1844–1878) in nearby Andenes. They had the child Nanna With in 1874. After the death of his first wife, he married her sister Augusta Septimia Wennberg (1847–1938). Career Richard With realized a growing transportation need in the region, particularly due to the widespread her ...
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Limited Company
In a limited company, the liability of members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by Share (finance), shares or by guarantee. In a company limited by shares, the liability of members is limited to the unpaid value of shares. In a company limited by guarantee, the liability of owners is limited to such amount as the owners may undertake to contribute to the assets of the company, in the event of being wound up. The former may be further divided in public companies (public limited company, public limited companies) and private companies (private limited company, private limited companies). Who may become a member of a private limited company is restricted by law and by the company's rules. In contrast, anyone may buy shares in a public limited company. Limited companies can be found in most countries, although the detailed rules governing them vary widely. It is also common for a distinct ...
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Ship Transport
Maritime transport (or ocean transport) and hydraulic effluvial transport, or more generally waterborne transport, is the transport of people (passengers) or goods (cargo) via waterways. Freight transport by sea has been widely used throughout recorded history. The advent of aviation has diminished the importance of sea travel for passengers, though it is still popular for short trips and pleasure cruises. Transport by water is cheaper than transport by air, despite fluctuating exchange rates and a fee placed on top of freighting charges for carrier companies known as the currency adjustment factor. Maritime transport accounts for roughly 80% of international trade, according to UNCTAD in 2020. Maritime transport can be realized over any distance by boat, ship, sailboat or barge, over oceans and lakes, through canals or along rivers. Shipping may be for commerce, recreation, or military purposes. While extensive inland shipping is less critical today, the major waterway ...
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Passenger Ferry
A ferry is a ship, watercraft or amphibious vehicle used to carry passengers, and sometimes vehicles and cargo, across a body of water. A passenger ferry with many stops, such as in Venice, Italy, is sometimes called a water bus or water taxi. Ferries form a part of the public transport systems of many waterside cities and islands, allowing direct transit between points at a capital cost much lower than bridges or tunnels. Ship connections of much larger distances (such as over long distances in water bodies like the Mediterranean Sea) may also be called ferry services, and many carry vehicles. History In ancient times The profession of the ferryman is embodied in Greek mythology in Charon (mythology), Charon, the boatman who transported souls across the River Styx to the Greek underworld, Underworld. Speculation that a pair of oxen propelled a ship having a water wheel can be found in 4th century Roman literature "''Anonymus De Rebus Bellicis''". Though impractical, ther ...
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Aksjeselskap
''Aksjeselskap'' is the Norwegian term for a stock-based company. It is usually abbreviated AS, historically often written as A/S. An AS is always a limited company, i.e. the owners cannot be held liable for any debt beyond the stock capital. Public companies are called Allmennaksjeselskap (ASA), while companies without limited liability are called '' Ansvarlig selskap'' (ANS). All AS companies must have a stock capital of at least NOK 30,000. In addition, they must have a board of directors, depending on the size of turnover, balance sheet total or number of employees, an auditor. They may appoint a managing director (MD) or chief executive (CEO). If the company has assets exceeding NOK 3 million, the board must have at least three members and cannot be chaired by the MD/CEO. Practically all Norwegian companies have a fiscal year from January to December, but some foreign subsidiaries may have a different fiscal year, as is allowed, to match the parent corporation. The ASA ...
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Allmennaksjeselskap
''Aksjeselskap'' is the Norwegian term for a stock-based company. It is usually abbreviated AS, historically often written as A/S. An AS is always a limited company, i.e. the owners cannot be held liable for any debt beyond the stock capital. Public companies are called Allmennaksjeselskap (ASA), while companies without limited liability are called '' Ansvarlig selskap'' (ANS). All AS companies must have a stock capital of at least NOK 30,000. In addition, they must have a board of directors, depending on the size of turnover, balance sheet total or number of employees, an auditor. They may appoint a managing director (MD) or chief executive (CEO). If the company has assets exceeding NOK 3 million, the board must have at least three members and cannot be chaired by the MD/CEO. Practically all Norwegian companies have a fiscal year from January to December, but some foreign subsidiaries may have a different fiscal year, as is allowed, to match the parent corporation. The ASA ...
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Narvik
( se, Áhkanjárga) is the third-largest municipality in Nordland county, Norway, by population. The administrative centre of the municipality is the town of Narvik. Some of the notable villages in the municipality include Ankenesstranda, Ballangen, Beisfjord, Bjerkvik, Bjørnfjell, Elvegård, Kjøpsvik, Skjomen, Håkvik, Hergot, Straumsnes, and Vidrek. The Elvegårdsmoen army camp is located near Bjerkvik. Narvik is located on the shores of the Ofotfjorden. The municipality is part of the traditional district of Ofoten of Northern Norway, inside the Arctic Circle. The municipality of Narvik borders the municipality of Hamarøy to the southwest, Evenes to the northwest, Bardu, Gratangen, Lavangen and Tjeldsund (in Troms og Finnmark county) to the north, and Norrbotten County ( Lapland) in Sweden to the south and east. The municipality is the 10th largest by area out of the 356 municipalities in Norway. Narvik is the 57th most populous municipality in Norway with a popula ...
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Ofotens Og Vesteraalens Dampskibsselskab
Ofotens og Vesteraalens Dampskibsselskab or OVDS was a Norwegian shipping company that operated ferries in Northern Norway, including the Coastal Express, car ferries and passenger ferries. The company merged with Troms Fylkes Dampskibsselskap in 2006 to form Hurtigruten Group. OVDS's main office was in Narvik while the ferry section was located in Stokmarknes. The company had about 1,500 employees at the time of the merger and operated 14 coastal expresses, 18 car ferries and 14 passenger ferries. OVDS was created as a merger between the two shipping companies Vesteraalens Dampskibsselskab Vesteraalens Dampskibsselskab was a Norway, Norwegian shipping company that operated ferry, ferries in Northern Norway. The ferry service was founded by Richard With on 10 November 1881 at Stokmarknes in Nordland, Norway. That same year, the ship ... (VDS, established in 1881) and Ofoten Dampskipsselskap (ODS, established in 1912). References Ferry companies of Norway Defunct shi ...
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Merger
Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position. Technically, a is a legal consolidation of two business entities into one, whereas an occurs when one entity takes ownership of another entity's share capital, equity interests or assets. A deal may be euphemistically called a ''merger of equals'' if both CEOs agree that joining together is in the best interest of both of their companies. From a legal and financial point of view, both mergers and acquisitions generally result in the consolidation of assets and liabilities under one entity, and the distinction between the two is not always clear. In most countries, mergers and acquisitions must comp ...
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Hurtigruten
''Hurtigruten'' (), formally Kystruten Bergen-Kirkenes ("coastal route Bergen- Kirkenes"), is a Norwegian public coastal route transporting passengers that travel locally, regionally and between the ports of call, and also cargo between ports north of Tromsø. Hurtigruten provides daily, year-round and consistent traffic between Bergen and Kirkenes with 34 ports of call on northbound and 33 ports of call on southbound sailings. The Ministry of Transport and Communications in Norway has set minimum capacity requirements of 320 passengers, 120 berths and cargo for 150 Euro-pallets. The current agreement with the privately held company Hurtigruten AS entered into force on 1 January 2012 and expired on 31 December 2019, with an optional 1-year extension. From 2021 the two companies Hurtigruten AS and Havila Kystruten AS will operate the route. As of April 2022, one of the ships of Havila Kystruten was taken out of service; because of sanctions as a result of the 2022 Invasion of U ...
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Cruise Line
A cruise line is a company that operates cruise ships that operate on ocean or rivers and which markets cruises to the public. Cruise lines are distinct from passenger lines which are primarily concerned with transportation of passengers. Though cruise packages provided by cruise lines vary, there are some features most have in common, such as accommodation, all meals and entertainment. They may include alcohol and shore excursions, sometimes on additional payment. Among cruise lines, some are direct descendants of the traditional passenger lines, while others were founded since the 1960s specifically for cruising. The business has been extremely volatile; the ships are massive capital expenditures with very high operating costs, and a slight dip in bookings can easily put a company out of business. Cruise lines frequently sell, renovate, or simply rename their ships just to keep up with travel trends. A wave of failures and consolidations in the 1990s has led to many companies ...
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Ferry
A ferry is a ship, watercraft or amphibious vehicle used to carry passengers, and sometimes vehicles and cargo, across a body of water. A passenger ferry with many stops, such as in Venice, Italy, is sometimes called a water bus or water taxi. Ferries form a part of the public transport systems of many waterside cities and islands, allowing direct transit between points at a capital cost much lower than bridges or tunnels. Ship connections of much larger distances (such as over long distances in water bodies like the Mediterranean Sea) may also be called ferry services, and many carry vehicles. History In ancient times The profession of the ferryman is embodied in Greek mythology in Charon, the boatman who transported souls across the River Styx to the Underworld. Speculation that a pair of oxen propelled a ship having a water wheel can be found in 4th century Roman literature "''Anonymus De Rebus Bellicis''". Though impractical, there is no reason why it could not work ...
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