Madrigal Shipping Lines
Encyclopedia
Madrigal Shipping Lines is a privately held company
that is headquartered in St. Leonards, NSW, Australia
. It is registered in the Australian Stock Exchange
under BlueFreeway Limited ASX
:BLU
The company ventured to another field and built more companies, now called the Madrigal Group which operates mainly in Australia
, Malaysia, Philippines
, Macau
, Singapore
, Italy
and recently opening its company's arm in the Netherlands
. Information are limited due to the company's privatization.
The company is the maker of 16¤Cargo Vessels and 3 ¤Luxury Cruise Liners
including the Sun Princess
and Dawn Princess
operating in the Australia-Pacific, Europe and Asia. The company itself owns 11 Cargo
Vessels based in Australia
and operates worldwide.
, Spain
on 1963 by Jose Paulo Madrigal, a Spanish
merchant. Prior to the company's founding, he married Filomena Anastacio, a Filipino doctor based in Madrid
on 17 January 1959. They later moved to the Philippines
from 1977 to 1980. Due to lack of proper management, the company filed bankruptcy on 4 August 1978.
The family migrated to Australia by the end of the decade and with the help of the Australian Government, the company was rebuilt. It borrowed loans from the government and established a Pacific charter and pacts with other Pacific liners.
In 1995 and 1997, the company built the Sun Princess
and the Dawn Princess
for the Princess Cruises
respectively. This marked their global importance as a Luxury Liner
maker.
On 29 March 2008, an unexpected announcement was made by the company executives to sell 76% of the stakes to a non-shipping firm, BlueFreeway. Rumors spread that the actions were due to financial mal-handling. The company spokesperson, George Whitney, however denied the speculations and said it was part of their global commitment to enhance and spread their service. The deal officially ended on 4 April 2008.
In 2005, the company posted a 15% higher remittance.
On March 2008, an announcement that 76.1% of the company is to be sold to the marketing communication company, BlueFreeway, although the Madrigals will continue to own 23.9% stake. The deal was finalized on 4 April 2008.
Other properties that are registered under the Madrigal assets includes Mad Laboratories LTD.- Singapore
, M&B Financial Pacific - Australasia
, Cinnabar Farm Estates - Australia
& New Zealand
, Georgetown Garments - New Zealand, Cellar Mansions - Philippines
.
Privately held company
A privately held company or close corporation is a business company owned either by non-governmental organizations or by a relatively small number of shareholders or company members which does not offer or trade its company stock to the general public on the stock market exchanges, but rather the...
that is headquartered in St. Leonards, NSW, Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
. It is registered in the Australian Stock Exchange
Australian Stock Exchange
The Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....
under BlueFreeway Limited ASX
ASX
ASX may refer to:* Australian Securities Exchange, the primary stock exchange of Australia* Advanced Stream Redirector, a computer file format listing Windows Media files * Armstrong Siddeley ASX, a British experimental turbojet* John F...
:BLU
The company ventured to another field and built more companies, now called the Madrigal Group which operates mainly in Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
, Malaysia, Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
, Macau
Macau
Macau , also spelled Macao , is, along with Hong Kong, one of the two special administrative regions of the People's Republic of China...
, Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
and recently opening its company's arm in the Netherlands
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
. Information are limited due to the company's privatization.
The company is the maker of 16¤Cargo Vessels and 3 ¤Luxury Cruise Liners
Cruise ship
A cruise ship or cruise liner is a passenger ship used for pleasure voyages, where the voyage itself and the ship's amenities are part of the experience, as well as the different destinations along the way...
including the Sun Princess
Sun Princess
Sun Princess may refer to:* MS Sun Princess , a Sun class cruise ship operating with Princess Cruises since 1995* MS Sun Princess , former name of New Flamenco...
and Dawn Princess
Dawn Princess
Dawn Princess is a Sun class cruise ship built in 1997 in Italy operated by Princess Cruises. The ship features eight restaurants, four swimming pools, five Jacuzzis, seven lounges and bars, and two children centres. Some restaurants offer “anytime dining” where passengers can dine with whom they...
operating in the Australia-Pacific, Europe and Asia. The company itself owns 11 Cargo
Cargo
Cargo is goods or produce transported, generally for commercial gain, by ship, aircraft, train, van or truck. In modern times, containers are used in most intermodal long-haul cargo transport.-Marine:...
Vessels based in Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
and operates worldwide.
History
The company was established in BarcelonaBarcelona
Barcelona is the second largest city in Spain after Madrid, and the capital of Catalonia, with a population of 1,621,537 within its administrative limits on a land area of...
, Spain
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
on 1963 by Jose Paulo Madrigal, a Spanish
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
merchant. Prior to the company's founding, he married Filomena Anastacio, a Filipino doctor based in Madrid
Madrid
Madrid is the capital and largest city of Spain. The population of the city is roughly 3.3 million and the entire population of the Madrid metropolitan area is calculated to be 6.271 million. It is the third largest city in the European Union, after London and Berlin, and its metropolitan...
on 17 January 1959. They later moved to the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
from 1977 to 1980. Due to lack of proper management, the company filed bankruptcy on 4 August 1978.
The family migrated to Australia by the end of the decade and with the help of the Australian Government, the company was rebuilt. It borrowed loans from the government and established a Pacific charter and pacts with other Pacific liners.
In 1995 and 1997, the company built the Sun Princess
Sun Princess
Sun Princess may refer to:* MS Sun Princess , a Sun class cruise ship operating with Princess Cruises since 1995* MS Sun Princess , former name of New Flamenco...
and the Dawn Princess
Dawn Princess
Dawn Princess is a Sun class cruise ship built in 1997 in Italy operated by Princess Cruises. The ship features eight restaurants, four swimming pools, five Jacuzzis, seven lounges and bars, and two children centres. Some restaurants offer “anytime dining” where passengers can dine with whom they...
for the Princess Cruises
Princess Cruises
Princess Cruises is a British-American owned cruise line, based in Santa Clarita, California in the United States. Previously a subsidiary of P&O Princess Cruises PLC, the company is now one of ten cruise ship brands operated by Carnival Corporation & PLC and accounts for approximately 19% share...
respectively. This marked their global importance as a Luxury Liner
Ocean liner
An ocean liner is a ship designed to transport people from one seaport to another along regular long-distance maritime routes according to a schedule. Liners may also carry cargo or mail, and may sometimes be used for other purposes .Cargo vessels running to a schedule are sometimes referred to as...
maker.
On 29 March 2008, an unexpected announcement was made by the company executives to sell 76% of the stakes to a non-shipping firm, BlueFreeway. Rumors spread that the actions were due to financial mal-handling. The company spokesperson, George Whitney, however denied the speculations and said it was part of their global commitment to enhance and spread their service. The deal officially ended on 4 April 2008.
Assets and Finances
The company suffered major losses for three consecutive years, 2003, 2004, and 2005. However, it regained stability with the new officials appointed.In 2005, the company posted a 15% higher remittance.
On March 2008, an announcement that 76.1% of the company is to be sold to the marketing communication company, BlueFreeway, although the Madrigals will continue to own 23.9% stake. The deal was finalized on 4 April 2008.
Other properties that are registered under the Madrigal assets includes Mad Laboratories LTD.- Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, M&B Financial Pacific - Australasia
Australasia
Australasia is a region of Oceania comprising Australia, New Zealand, the island of New Guinea, and neighbouring islands in the Pacific Ocean. The term was coined by Charles de Brosses in Histoire des navigations aux terres australes...
, Cinnabar Farm Estates - Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
& New Zealand
New Zealand
New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
, Georgetown Garments - New Zealand, Cellar Mansions - Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
.