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40-468: Italian Line and from 1992 Italia Line , whose official name was Italia di Navigazione S.p.A. , was a passenger shipping line that operated regular transatlantic services between Italy and the United States, and Italy and South America. During the late 1960s the company turned to running cruises , and from 1981 it became a global freight operator. The company was founded in 1932 through

80-438: A board of directors on behalf of the shareholders. On account of these characteristics, an S.p.A. can raise large amounts of capital by incentivizing many investors to buy its shares, making the S.p.A. suitable for large undertakings. Accordingly, the S.p.A. is the legal form in which large companies typically operate all over the world. The elements that characterize this type of company and are essential to be able to apply

120-442: A Legislative Decree 385/1993). This article relating to the law of Italy is a stub . You can help Misplaced Pages by expanding it . CP Ships CP Ships was a large Canadian shipping company established in the 19th century. From the late 1880s until after World War II , the company was Canada's largest operator of Atlantic and Pacific steamships. Many immigrants travelled on CP ships from Europe to Canada. In 1914

160-487: A fleet of "Beaver Ships" cargo liners for fast freight service in the 1920s, which were some of the most advanced steam freighters of their time: Beaverford , Beaverdale , Beaverburn , Beaverhill and Beaverbrae . In 1939, the CP Ship Empress of Australia transported King George VI and his royal consort, Queen Elizabeth from London , England to Quebec City for the 1939 royal tour of Canada . This

200-935: A merger of the Genoa -based Navigazione Generale Italiana (NGI), the Turin -based Lloyd Sabaudo , and the Trieste -based Cosulich STN lines, encouraged by the Italian government. The new company acquired the Cosulich-owned ships Saturnia and Vulcania , the Lloyd Sabaudo-owned Conte Rosso , Conte Biancamano and Conte Grande and the NGI-owned Giulio Cesare , Duilio , Roma and Augustus . The same year two previously ordered ocean liners were delivered to

240-559: A model of container shipping from passenger, freight and mail service in the 1960s due to competitive pressure from the airline industry. The company was a part of the Canadian Pacific Ltd. conglomerate. It was spun out as a separate company in 2001. In 2005, it was purchased by TUI AG and is now part of the company's Hapag-Lloyd division. The Atlantic and Pacific passenger liners of Canadian Pacific were always British-flagged and largely British-manned and were not part of

280-459: A reef near Tokyo, and she was subsequently towed to Yokohama where she was scrapped. Empress of India would continue in service through 1914. RMS Empress of Japan sailed regularly from 1891 through 1922. These three ships and the others which comprised the "Empress fleet" carried mail, passengers, and freight speedily across the Pacific for over half a century. In 1903, the company took over

320-574: The Mediterranean , the west coast of North America, and Central and South America, carrying about 180,000  twenty-foot equivalent units  (TEU) of freight in 2001. Previously owned by the Italian government, the company was privatized in 1998 when sold to d'Amico Società di Navigazione . In August 2002, it was acquired by CP Ships , and in 2005 the Italian Line name ceased to exist following CP's one-brand strategy. CP Ships itself

360-498: The Port of Liverpool finished with the sale of Empress of Canada . In 1984, CP Ships entered a joint venture with Compagnie Maritime Belge called Canada Maritime to secure North Atlantic container traffic for its rail facilities at the Port of Montreal . This "new" company prospered and the fortunes of CP Ships revived in the early 1990s. In 1993 Canadian Pacific bought out its partner and merged it with CP Ships. The next decade saw

400-573: The British Royal Navy , not CP Ships. For example, RMS Princess Irene and RMS Princess Margaret were requisitioned at the point of completion by the British Royal Navy for war service. They were manned by naval personnel, not CP. Neither ship was delivered to CP – Princess Irene exploded in 1915 and Princess Margaret was purchased by the Admiralty after the war. CP purchased eleven new steamships to replace its losses during

440-482: The British government reached agreement on a contract for subsidised mail service between Britain and Hong Kong via Canada. The route began to be serviced by three specially designed Empress liners— RMS  Empress of China , RMS  Empress of India and RMS  Empress of Japan . Each of these "Empress" steamships sailed regularly in the period from 1891 through 1912. In that year, Empress of China struck

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480-875: The Canadian Merchant Marine, ownership being with the British-registered Canadian Pacific Steamships Ltd. subsidiary. In the early 1880s, the Canadian Pacific Railway (CPR) negotiated with the Government of the United Kingdom to establish trans-Pacific steamship routes between Vancouver , British Columbia and the Far East . The trans-Pacific services of Canadian Pacific were begun by Sir William Cornelius Van Horne ,

520-562: The Canadian-American builder of the railroad network in 1887. In that year, Sir William chartered three vessels from Cunard Line ; SS  Abyssinia , SS  Parthia , and SS  Batavia —as a beginning of the CP fleet. The agency for chartering and managing the ships was secured by Adamson, Bell and Company for the first three years. When the new shipping line had shown to be profitable, Canadian Pacific decided not to renew

560-647: The North Atlantic route. Although planned for cruising as an alternative, the ships had several design flaws that made their use as cruise ships problematic. Despite huge financial loss, the Italian Line operated the transatlantic route until 1976, after which the Leonardo da Vinci was withdrawn from service; the Michelangelo and Raffaello had been sold the previous year. The Cristoforo Colombo

600-493: The articles of association of S.r.l. allowed different allocation of profit and assets, which was more comparable to a limited partnership . Throughout Italy's history, the governance of S.p.A. has been remodeled several times. Originally the S.p.A. was governed by the Commercial Code of 1865, and subsequently by that of 1883, under the name " società anonima " ('anonymous company'). The regulations contained within

640-556: The blue chips of the FTSE MIB Index: Banco BPM , BPER Banca , UBI Banca , demutualized from S.c.p.a., S.c. a.r.l., or S.c. legal forms (respectively, co-operative company by shares, co-operative company with limited liability, and co-operative company). As a legal form , the S.p.A. has five characteristics that are always present and universally recognized: legal personality, limited liability , transferable shares, ownership by shareholders , and management by

680-544: The civil code remained unaltered until the 2003 Company Law Reform. The regulations in effect are set out in the Italian Civil Code of 1942, which also adopted the name currently in use. Within the civil code, the articles specifically addressing S.p.A. are found in Articles 2325-2510 of Book V, Title V. Since 2016, banks are required to run as S.p.A. if their assets are more than a defined threshold. This saw

720-618: The collision. Four minutes later the ship had sunk. Only 465 survivors were rescued. A board of inquiry found Storstad responsible for the sinking. Canadian Pacific was an important contributor to the Merchant Navy (United Kingdom) in World War I. Like other shipping companies, Canadian Pacific provided ships to carry troops in both World Wars. CP lost 18 ships in the war. In World War I, some ships were refitted as armed merchantmen or auxiliary minelayers . These were operated by

760-560: The company acquired its last three steam passenger ships Empress of Britain , Empress of England and Empress of Canada . Competition from airlines forced CP to retire these ships in the 1970s. The company looked towards bulk carrier and tanker fleets as replacements for its steamships. In 1971, the company changed its name to CP Ships Ltd. Container ships added as Intermodal freight transport became popular. Intermodal transportation integrated well with CP's rail assets. In 1972, CP Ships regular transatlantic passenger service from

800-989: The company grow through acquisition. In April 1995 CP Ships purchased the Cast Group out of a bankruptcy proceeding, and subsequently bought Lykes Lines in July 1997 also out of bankruptcy, Contship Containerlines in October 1997 at a profitable level, Australia-New Zealand Direct Line in December 1998 also being profitable, Ivaran Lines in May 1998 (unprofitable), TMM Lines (unprofitable, 50% in January 1999, rest 50% in January 2000), in August 2000 Christensen Canadian African Lines (CCAL) at small profitability and Italia Line in August 2002 at breakeven business results. By 2001 it

840-579: The company: Rex , that won the Blue Riband in 1933, and Conte di Savoia . In World War II the company lost many ships, including Rex and Conte di Savoia . Others were captured by the United States and converted into troopships ; four of them survived the war: Conte Biancamano , Conte Grande , Saturnia , and Vulcania . Commercial service was resumed in 1947 under the company's new name Società di navigazione Italia . In addition to

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880-567: The contract with Adamson, Bell and Company and to run the line itself. In 1891, CPR adopted a new name — the Canadian Pacific Steamship Company (CPSC). The CPSC became one of the many shipping companies operating in and out of Liverpool. The company expanded as people emigrating from Europe to North America provided a larger number of passengers and the company also started holiday cruises. As with other shipping companies, CPSC had larger ships built to cope with

920-491: The demand. In the late 19th century, CPR initiated an ocean-going service between the port of Vancouver and Hong Kong , with calls at Japan and China, and later at Manila , Philippine Islands and Honolulu , Hawaii . This service provided a link for CPR's transcontinental railroad passenger and freight services. Passengers could travel from England to Eastern Canada, travel across the railway to Vancouver, and on to Asian destinations. During 1887, temporary steamship service

960-500: The four vessels returned to the company by the United States, two new vessels, Andrea Doria and Cristoforo Colombo were commissioned in 1953 and 1954. In 1956, Andrea Doria , the company's three-year-old flagship collided with the Swedish ship Stockholm near Nantucket and sank, with passenger deaths estimated at 46 or 55. The company replaced Andrea Doria with Leonardo da Vinci , which went into service in 1960. This ship

1000-662: The largest ship lost to enemy action during the Battle of the Atlantic . Losses also included all of its fleet of "Beaver ship" cargo liners. Company ships participated in both the Battle of the Atlantic and the Battle of the Pacific . Despite their extensive and dangerous war service, the CP mariners, part of the Merchant Navy , were denied veterans' benefits by the Canadian Government until 1988. From 1956 to 1961,

1040-490: The legislation relating to this institution are: If one of these elements is missing, the case is not considered integrated, and therefore the regulations of the SpA are not applicable. Due to these characteristics (high capital and public sale of shares), the S.p.A. is the only joint-stock company allowed to exercise insurance activity (art. 14 letter a Legislative Decree 209/2005) and the exercise of banking activity (art. 14 letter

1080-469: The most notable military action in the company's history in 1940 as part of Convoy HX 84 when she engaged the German Deutschland -class cruiser Admiral Scheer for five hours before sinking with all hands, a sacrifice that allowed most of convoy HX 84 to escape. The company lost twelve vessels due to enemy action which is a larger loss than any Western company. Empress of Britain was

1120-656: The new year. An 11-foot (3 m) scale model of the ship was put on display in Canadian Pacific's New York offices. In an effort to lure American-Chinese passengers to sail with CPR from North America to Shanghai and Hong Kong, prominent members of the Chinese community in New York were invited to examine the scale model and its amenities. In 1915, CP changed the name of its shipping business to Canadian Pacific Steamships Ocean Services Ltd. In 1891, CPR and

1160-746: The ships and services of the Beaver Line and began operating ships on the Atlantic between Halifax , Nova Scotia and the United Kingdom . In 1906, two vessels were built in Scotland: RMS ; Empress of Britain and RMS Empress of Ireland . These two vessels had a full capacity of 1,530 passengers. There were accommodations for 310 first class, 470 second class passengers, 500 third class and 250 steerage passengers. The CP transported many immigrants from Europe to Canada, primarily from Great Britain and Scandinavia . CP acquired

1200-657: The sinking of the Canadian Pacific steamship RMS  Empress of Ireland just before World War I became largest maritime disaster in Canadian history. The company provided Canadian Merchant Navy vessels in World Wars I and II. Twelve vessels were lost due to enemy action in World War II, including the RMS ; Empress of Britain , which was the largest ship ever sunk by a German U-boat . The company moved to

1240-655: The successful Allan Line , and expanded to become a major international cargo carrier and operators of luxury passenger liners such as Empress of Britain and Empress of Canada . In 1914, the Empress of Ireland collided with the Norwegian collier SS  Storstad in the Saint Lawrence River . The Empress sank in just 14 minutes and 1,012 perished. Its death toll makes it the deadliest maritime disaster in Canadian history. Empress of Ireland

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1280-556: The war. New liners including RMS  Empress of Australia , RMS  Empress of Britain , RMS  Duchess of Atholl , SS  Duchess of Bedford , SS  Duchess of Richmond and SS  Duchess of York served on the Atlantic Ocean, while RMS  Empress of Canada and RMS  Empress of Japan were among the largest liners on the Pacific Ocean during the inter-war period. The company also built

1320-483: Was also withdrawn from service at this time. The Leonardo da Vinci became a cruise ship in 1977–78, after which it was withdrawn due to high fuel costs. In 1979 and 1980 the company operated two ex- Lloyd Triestino liners, Galileo Galilei and Guglielmo Marconi , as cruise ships, but this again proved unprofitable. Because of the unprofitability of the cruise business, the Italian Line turned to freight shipping. It operated its principal container services between

1360-508: Was based on the same design as Andrea Doria , but was larger, and featured technical innovations. In the late 1950s aircraft passenger travel had yet to have a noticeable effect on ocean-going passenger numbers between the United States and the Mediterranean . The Italian Line, therefore, ordered two new ships: Michelangelo and Raffaello . Building the ships took longer than expected, and they were not delivered until 1965. Being late into service, they were unable to compete profitably on

1400-481: Was bought-out in late 2005 by TUI AG , and merged with Hapag-Lloyd in mid-2006. SCAC Code : ITAU BIC Code (Container prefixes): ITAU Societ%C3%A0 per Azioni The other common form of corporation in Italy was società a responsabilità limitata (S.r.l.) (' limited liability company '). S.p.A. issued shares ( Italian : azioni ), while in S.r.l. the unit was quote/stock of share capital. Moreover,

1440-564: Was donated to the Canadian Museum of Science and Technology . There are several notable civilian events in the CP fleet. CP ships served in the Merchant Navy (United Kingdom) in World War I. CP ships served in the Canadian Merchant Navy in World War II. Twelve ships were lost to direct enemy action. Two additional ships were lost to accidents. · 2013 Name Canadian Pacific Steamships Ltd (abandoned by TUI AG)

1480-465: Was heading down the channel near Pointe-au-Père , Quebec in heavy fog. At 02:00 Storstad crashed into the side of the CP liner. Storstad , though damaged, did not sink. Empress of Ireland took severe damage to her starboard side and began to list and take on water. Some passengers managed to get into lifeboats quickly. The ship began to list too far, and additional life rafts were not able to be launched. The ship rolled to its side ten minutes after

1520-626: Was initiated on a Vancouver- Yokohama -Hong Kong route. From 1887 through 1941, the Canadian Pacific Railway provided steamship service between Vancouver and Victoria, British Columbia , Canada and Hong Kong with calls at Japan and China, and later at Manila, Philippine Islands and Honolulu, Hawaii. Three ships were built at Barrow-in-Furness in England, and the three sailed together towards Vancouver in 1890, with initial voyages projected for January 15, February 15, and March 15 of

1560-428: Was the first-ever visit by the monarch to a dominion. The king chose to visit Canada using a Canadian luxury liner rather than an established British royal yacht . Empress of Australia was considered to be a royal yacht after her use by the king. In World War II, the CP fleet carried over a million tons of cargo and a million troops and civilians during World War II. One CP ship, the freighter SS Beaverford , made

1600-736: Was the seventh largest carrier in the world, and dominated the North Atlantic. When it was spun off into a separate company it represented 8% of Canadian Pacific's revenues and was a source for a large portion of CPR's rail traffic — much originating from CP Ships' Montreal Gateway Terminals. On August 21, 2005, German conglomerate TUI AG offered to acquire CP Ships Limited for € 1.7 billion ( US $ 2.0 billion) in cash, and merge it with TUI's Hapag-Lloyd division. On October 19, 2005, CP Ships and TUI AG jointly announced that 89.1% of CP Ships shareholders had accepted Ship Acquisition Inc.'s August 30 offer for US$ 21.50 per share on October 25, 2005. CP Ships archives were held by CP Limited until 2012 when it

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