24-449: Marella Cruises (formerly Thomson Cruises ) is a British cruise line operated by TUI UK , offering cruise holidays around Europe, the Caribbean, and Asia. The company had initially entered the cruise market in 1973, but due to rising fuel costs the venture was terminated in 1976. In 1995, Thomson restarted their cruise line after their competitor Airtours had made a successful entry in
48-422: A common purpose and unite to achieve specific, declared goals. Over time, companies have evolved to have the following features: "separate legal personality, limited liability, transferable shares, investor ownership, and a managerial hierarchy". The company, as an entity, was created by the state which granted the privilege of incorporation. Companies take various forms, such as: A company can be created as
72-462: A discrete legal capacity (or "personality"), perpetual succession , and a common seal . Except for some senior positions, companies remain unaffected by the death, insanity, or insolvency of an individual member. The English word, " company ", has its origins in the Old French term compagnie (first recorded in 1150), meaning "society, friendship, intimacy; body of soldiers", which came from
96-526: A legal person so that the company itself has limited liability as members perform or fail to discharge their duties according to the publicly declared incorporation published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups . A company can be defined as an "artificial person", invisible, intangible, created by or under law, with
120-453: A lifeboat. The lifeboat ropes snapped and it plunged 65 ft from the upper deck into the sea. It overturned as it hit the water, trapping them underneath. Three crewmen were taken to hospital, but five others - three Indonesians, one Filipino and one Ghanaian - drowned as rescue attempts were made. Cruise line A cruise line is a company that operates cruise ships that operate on ocean or rivers and which markets cruises to
144-571: The Late Latin word companio ("one who eats bread with you"), first attested in the Salic law ( c. AD 500) as a calque of the Germanic expression gahlaibo (literally, "with bread"), related to Old High German galeipo ("companion") and to Gothic gahlaiba ("messmate"). By 1303, the word company referred to trade guilds . The usage of the term company to mean "business association"
168-407: The shareholders . In a company limited by guarantee , this will be the guarantors. Some offshore jurisdictions have created special forms of offshore company in a bid to attract business for their jurisdictions. Examples include segregated portfolio companies and restricted purpose companies. However, there are many sub-categories of company types that can be formed in various jurisdictions in
192-583: The 1990s has led to many companies being bought by much larger holding companies and to operate as "brands" within larger corporations. Brands exist partly because of repeat customer loyalty, and also to offer different levels of quality and service. For instance, Carnival Corporation & plc owns both Carnival Cruise Line , whose former image were vessels that had a reputation as "party ships" for younger travellers, but have become large, modern, yet still profitable, and Holland America Line , whose ships cultivate an image of classic elegance. A common practice in
216-637: The SkySea Cruise Line brand and that the line's sole ship SkySea Golden Era would join the Marella fleet in place of Mein Schiff 2 which would stay with TUI Cruises. The former Mein Schiff 2 was renamed Mein Schiff Herz and joined the Marella fleet in 2023 as Marella Voyager . In April 2020 due to the ongoing COVID-19 pandemic, it was announced that Marella Celebration would be immediately retired from
240-645: The United Kingdom, a partnership is not legally a company, but may sometimes be referred to (informally) as a "company". It may be referred to as a "firm" . In the United States , a company is not necessarily a corporation. For example, a company may be a " corporation , partnership , association, joint-stock company , trust , fund , or organized group of persons , whether incorporated or not, and (in an official capacity) any receiver, trustee in bankruptcy, or similar official, or liquidating agent , for any of
264-588: The Winter season of 2018, with the ship being based out of Malaysia, the first in the line's history. In 2012, Marella Cruises holds approximately a 1% market share of the worldwide cruise industry. In May 2021, with the cruise sector planning for revival following the COVID-19 pandemic , TUI were reported to be planning to merge Marella Cruises with their TUI Cruises joint venture with Royal Caribbean , as they had already done with Hapag-Lloyd Cruises . MS Island Escape
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#1732891018978288-514: The brand, not the larger holding corporation, as the cruise line is also followed in the member cruise lines in Cruise Lines International Association (CLIA) and the member-based reviews of cruise lines. Company (law) A company , abbreviated as co. , is a legal entity representing an association of legal people, whether natural , juridical or a mixture of both, with a specific objective. Company members share
312-519: The cruise business under their Sun Cruises brand. On 9 October 2017, TUI Group announced that Thomson Cruises would be rebranded in late October 2017 as Marella Cruises, with all of the existing Thomson fleet adopting the name change either from Thomson or TUI to Marella (except Thomson Spirit which will be renamed Spirit and Thomson Majesty which will be transferred to Celestyal Cruises ). The line also announced that it would base TUI Discovery in Asia for
336-431: The cruise industry in listing cruise ship transfers and orders is to list the smaller operating company, not the larger holding corporation, as the recipient cruise line of the sale, transfer, or new order. For example, Carnival Cruise Line and Holland America Line are the cruise lines whereas Carnival Corporation & plc and Royal Caribbean Group are considered holding corporations. This industry practice of using
360-691: The fleet. The same was announced for Marella Dream in October 2020. Both ships were scrapped in Aliaga, Turkey, in 2022. originally planned to join the fleet in 2019 with the name TUI Explorer 2, later replaced by the SkySea Golden Era / Marella Explorer 2 Replacement for the Marella Dream . On 9 February 2013, five crewmen of MS Thomson Majesty were killed in Santa Cruz de La Palma whilst checking
384-412: The foregoing". Less common types of companies are: When "Ltd" is placed after the company's name, it signifies a limited company, and "PLC" ( public limited company ) indicates that its shares are widely held. In the legal context, the owners of a company are normally referred to as the "members". In a company limited or unlimited by shares (formed or incorporated with a share capital), this will be
408-412: 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
432-423: The reputation of the exchange or particular market of an exchange. Private companies do not have publicly traded shares, and often contain restrictions on transfers of shares. In some jurisdictions, private companies have maximum numbers of shareholders. A parent company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors;
456-600: The second quarter of 2016, and that TUI would lease the ship to Thomson Cruises to replace the Island Escape . In May 2015, TUI Group announced that as part of their modernization strategy, TUI Cruises ' Mein Schiff 1 and Mein Schiff 2 would be transferred to Thomson Cruises over the next few years. In October 2015, the Island Cruise brand was discontinued after the sole ship Island Escape completed her last scheduled cruise with Thomson Cruises . In March 2017, it
480-432: 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 to keep up with travel trends. A wave of failures and consolidations in
504-406: The world. Companies are also sometimes distinguished for legal and regulatory purposes between public companies and private companies . Public companies are companies whose shares can be publicly traded, often (although not always) on a stock exchange which imposes listing requirements / Listing Rules as to the issued shares, the trading of shares and future issue of shares to help bolster
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#1732891018978528-618: Was added to the Thomson fleet in April 2009, as a result of parent company TUI's acquisition of Royal Caribbean Cruises Ltd. 's share in Island Cruises that took place in 2008. As of March 2013, Thomson operates the Island Escape under its all-inclusive Island Cruises brand. In March 2015, Royal Caribbean International announced that they had agreed to sell Splendour of the Seas to TUI Cruises in
552-655: Was announced that Mein Schiff 1 would join the fleet in May 2018, and would become the TUI Explorer . In July 2017, Thomson had announced that they would be extending the Thomson Spirit Lease until October 2018, and she will be based out of Palma for 18 April and then based in Malaga from May 2018 with her last cruise being on 21 October 2018. In March 2018, it was announced that Royal Caribbean Cruises and Ctrip were to close
576-629: Was first recorded in 1553, and the abbreviation "co." dates from 1769. According to the Company Law of the People's Republic of China , companies include the limited liability company and joint-stock limited company which founded in the mainland China. In English law and in legal jurisdictions based upon it, a company is a body corporate or corporation company registered under the Companies Acts or under similar legislation. Common forms include: In
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