[ 128 ] THE SHIP OF THE FUTURE A STRONGER P&O To remain strong and fit in the new millennium, P&O streamlined its organisation in the early 2000s. Going forward, the core business would be ports, transport (ferries) and logistics with the cruise division demerged in 2000. Several other interests were disposed of, including the container shipping line P&O Nedlloyd, itself a 1997 merger between P&O Containers and Royal Nedlloyd of the Netherlands, to remain competitive in a consolidated container shipping market. P&O’s future focus pointed to ports, ferries and logistics. Raised capital was reinvested in marine terminals stretching from Buenos Aires to Vostochny Port and far beyond. It was this enviable geographical spread that attracted interest from DP World. P&O was the perfect fit and after a bidding war with PSA International, P&O shareholders voted overwhelmingly to approve the DP World bid on 13 February 2006. The P&O Ports brand name was dropped in favour of DP World, yet the P&O name lived on for the ferry and logistics divisions, known as P&O Ferries and P&O Ferrymasters, respectively. The latter company is a leading European provider of Above: neon sign being installed at P&O's West End office, 1956. Below: flying the P&O flag high on the Channel, the Chunnel beaters Pride of Dover and Pride of Calais revolutionised ferry travel across the Channel when introduced in 1987 P&O Heritage
RkJQdWJsaXNoZXIy NzQ1NTk=