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37-415: Overseas Containers Limited (OCL) was a container shipping company formed by a consortium of British shipping companies in 1965. It was taken over by P&O in 1986. In the early days of containerisation considerable investment was still required in the necessary infrastructure to transport and handle shipping containers , and many shipping companies formed consortia to ease the financial burden. OCL

74-629: A bank account. Outside the United States, these savings clubs can be formal and have proper legislation. In some countries, like Brazil, consórcios are an integral part of the traditional banking system, where there are clubs for purchasing real estate and cars, and even for plastic surgery costs. Over seven million people have engaged in these formal savings associations over the past years, adding to over U$ 10 billion in credit. Since these clubs have up to thousands of members, products purchased are awarded through lottery and bidding processes and

111-467: A common fund. On every installment the common fund reaches the goal value and someone is awarded this sum and from this point forward this person own the association the remaining amount, just as in a loan. This process repeats until every member is awarded the entire sum. These informal associations are specially popular among immigrants since they are a cheaper alternative to traditional financing and usually require no formal papers, credit history or even

148-466: A consortium to cooperate on areas non-strategic for their core businesses. They prefer to reduce their costs on these non-strategic areas and compete on other areas where they can differentiate better. For example, the GENIVI Alliance, now called COVESA, is a not-for-profit consortium between different car makers in order to ease building an In-Vehicle Infotainment system. Another example is

185-450: A fleet of 20 containerships and more than 60,000 container units. It served more than 50 major ports and, in 1980, transported more than a quarter of a million container loads of import and export cargo on a route network linking locations throughout four continents. One company, P&O, gradually increased its share of the consortium until in 1986 it bought the remaining 53% held by Ocean Transport and Trading (as The Ocean Steamship Company

222-485: A for-profit consortium is a group of banks that collaborate to make a loan—also known as a syndicate . This type of loan is more commonly known as a syndicated loan . In England it is common for a consortium to buy out financially struggling football clubs in order to keep them out of liquidation . Alyeska Pipeline Service Company , the company that built the Trans-Alaska Pipeline System in

259-453: A new company, Airbus SAS. In return, they got 80% and 20% shares respectively. BAE would later sell its share to EADS. The Tornado was developed and built by Panavia Aircraft GmbH, a tri-national consortium consisting of British Aerospace (previously British Aircraft Corporation), MBB of West Germany, and Aeritalia of Italy. The aircraft first flew on 14 August 1974 and was introduced into service in 1979–1980. Due to its multi-role design, it

296-401: A segment of the regular activities of these entities, based on an unnamed contract and characterized by a temporary nature, minimization of institutionalization, and lack of separate property , the need to specify how the parties participate in the joint venture and the intention not to establish a "community" with partly own interests (the partnership as such). According to this concept, despite

333-472: A set of offices in Bevis Marks, London, OCL later moved to custom built offices on Braham Street, a few hundred yards away on a traffic island at the end of Commercial Road. The service was inaugurated on 6 March 1969 by Encounter Bay undertaking her maiden voyage, and OCL overcame heavy losses in the first years of operations to become one of the world's leading container lines. The first trade route

370-451: A structure simply referred to as the "consortium." In the Polish legal system, the legal nature of the consortium agreement is disputed. According to the prevailing approach, a consortium is a form of cooperation, different from a civil law partnership, undertaken between economically independent entities already operating on the market in order to implement a specific undertaking that is

407-406: Is a purely contractual cooperative contract that does not entail the creation of a third party. The consortium has no legal personality or legal capacity . The contract is concluded between two or more natural or legal persons who undertake to carry out certain works in order to implement a joint project which consortium members would not be able to carry out themselves. The consortium agreement

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444-559: Is not explicitly regulated by the French legislator, but it is admissible in the light of the principle of freedom of contract interpreted from articles 6 and 1134 of the French Civil Code . Neither consortium nor joint venture have a legal definition in U.K. law . The second term is usually used to describe various types of agreements where two or more parties cooperate in conducting business activities. This manifests e.g. in

481-636: The Five Colleges ) comprises four liberal arts colleges and one university in the Connecticut River Pioneer Valley of Western Massachusetts : Amherst College , Hampshire College , Mount Holyoke College , Smith College , and the University of Massachusetts Amherst , totaling approximately 38,000 students. They are geographically close to one another and are linked by frequent bus service that operates between

518-646: The University of Massachusetts Amherst . Another example of a successful consortium is the Five Colleges of Ohio of Ohio: Oberlin College , Ohio Wesleyan University , Kenyon College , College of Wooster and Denison University . The aforementioned Claremont Consortium (known as the Claremont Colleges) consists of Pomona College , Claremont Graduate University , Scripps College , Claremont McKenna College , Harvey Mudd College , Pitzer College , and Keck Graduate Institute . These consortia have pooled

555-857: The World Wide Web Consortium (W3C) , which is a consortium that standardizes web technologies like HTML , XML and CSS . The Institute for Food Safety and Health is a consortium consisting of the Illinois Institute of Technology , the Food and Drug Administration 's Center for Food Safety and Applied Nutrition , and members of the food industry . Some of the work done at the institute includes, "assessment and validation of new and novel food safety and preservation technologies, processing and packaging systems, microbiological and chemical methods, health promoting food components, and risk management strategies." Commonly known in

592-405: The 1970s, initially was a consortium of BP , ARCO , ConocoPhillips , Exxon , Mobil , Unocal , and Koch Alaska Pipeline Company. Airbus Industries was formed in 1970 as a consortium of aerospace manufacturers. The retention of production and engineering assets by the partner companies in effect made Airbus Industries a sales and marketing company. This arrangement led to inefficiencies due to

629-549: The Connecticut Valley Colleges, a joint continuing education program for the Pioneer Valley. In later years, Amherst, Mount Holyoke, Smith, and MAC—later known as Massachusetts State and UMass—increased their collaboration, culminating in the formation of an inter-library loaning program in 1951 and a joint astronomy department in 1959. Finally, Amherst, Mount Holyoke, Smith and UMass incorporated

666-599: The Four College Consortium, which became the Five College Consortium when Hampshire College was founded in 1965, and admitted its first entering class in 1970. The five colleges operate both as independent entities as well as mutually dependent institutions. The mission of the consortium is to support long-term forms of cooperation that benefit the faculty, staff and students of the five colleges. Shared academic and cultural resources are

703-894: The Midwest and Mid-Atlantic U.S., Claremont Colleges consortium in Southern California, Five College Consortium in Massachusetts, and Consórcio Nacional Honda are among the oldest and most successful higher education consortia in the world. The Big Ten Academic Alliance , formerly known as the Committee on Institutional Cooperation, includes the members of the Big Ten athletic conference. The participants in Five Colleges, Inc. are: Amherst College , Hampshire College , Mount Holyoke College , Smith College , and

740-408: The United States as a rotating savings and credit association (ROSCA) and also called Savings Clubs, Christmas clubs , sousou or even money circles, they are typically informal associations of people saving money together with a commonly shared goal: buying something with the same value. In this association its members contribute by paying equal amount installments (usually monthly or weekly) towards

777-405: The campuses during the school year. The consortium was formally established in 1965, but its roots lay in cooperative efforts between the oldest four members of the consortium dating back to 1914. In 1914, Massachusetts Agricultural College (now UMass), Amherst, Mount Holyoke, and Smith joined International YMCA College (now Springfield College ) to form the Committee on University Extension of

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814-724: The combined fleets. Container ships sailing for the company under the OCL banner were characterised by their green hulls with white topping, white superstructure and green funnels bearing the initials OCL in white letters. All OCL ships' names ended in Bay , such as Encounter Bay , Tokyo Bay , Liverpool Bay , Resolution Bay and Mairangi Bay . Subsidiary operations such as the Australia- Japan Container Line did not follow this trend, instead having names such as Arafura and Aotea . When OCL became P&OCL, there

851-509: The common fund administrators charge a fixed fee in order to take responsibility and guarantee the integrity of the process. In France , the consortium, considered a sub-type of joint venture , has important theoretical and practical significance. The French legal system does not provide a definition and does not explicitly use the concept of a joint venture or consortium ( groupements momentanés d’entreprises ). The consortium agreement in France

888-406: The consortium and the pool. Cooperation agreements concluded under German law are not of a uniform legal nature. There is a great wealth of legal forms of cooperation that could be cautiously qualified as consortium agreements. This is in particular a civil law partnership in its internal and occasional variants ( Gelegenheitsgesellschaft ), as well as a partnership of building contractors ( ARGE ) and

925-891: The general law of contract, similar to an ordinary partnership agreement , does not create a separate entity. In Germany the view prevails that the consortium is a type of internal civil law partnership (§ 705–740 of the BGB ). In external relations, consortium members may decide on joint and several liability regulated by § 421 BGB, while internally there is sometimes a release from this liability. Joint ventures often include credit syndicates (Kreditkonsortien), securities issuing consortia, including mainly shares ( Emissionskonsortien ), construction consortia ( Baukonsortien ) also referred to as investment ( Investitionskonsortien ) and profit pools ( Ergebnispools ). Sometimes, special purpose partnerships established to jointly use construction facilities ( Planungsgesellschaften ) are listed in one category with

962-644: The inherent conflicts of interest that the four partner companies faced; they were both shareholders of, and subcontractors to, the consortium. The companies collaborated on development of the Airbus range, but guarded the financial details of their own production activities and sought to maximize the transfer prices of their sub-assemblies. In 2001, EADS (created by the merger of French, German and Spanish Airbus partner companies) and BAE Systems (the British partner company) transferred their Airbus production assets to

999-433: The joint distribution of profit, sharing cash, assets, knowledge or abilities. As there are no legal provisions regulating in detail the consortium or joint venture, the relations between the parties participating in this type of agreement—when choosing a joint venture as a collaboration agreement or a special partnership —are subject to common law or the provisions of the partnership law . A consortium agreement governed by

1036-657: The primary initiative of the consortium. This means that students at each of these schools are permitted and encouraged to take classes at the other colleges (through "cross-registration") at no additional cost to the student. Student groups and organizations often draw participants from all five campuses and several academic programs are run by the Five Colleges (for example: astronomy , dance , some foreign languages, and women's studies ). The colleges also participate in an interlibrary loan program, allowing students, staff, and faculty to take advantage of all five campuses' collections. The Five College Radio Astronomy Observatory

1073-488: The region ( University of Kentucky , University of North Carolina , University of Tennessee , West Virginia University , University of Virginia , and Virginia Tech ) are affiliated with the ACA. These institutions assist the ACA in reviewing grant and fellowship applications, conducting workshops, and providing technical assistance. The ACA works to serve higher education in the rural regions of these five states. An example of

1110-789: The resources of their member colleges and the universities to share human and material assets as well as to link academic and administrative resources. An example of a non-profit consortium is the Appalachian College Association (ACA) located in Richmond, Kentucky . The association consists of 35 private liberal arts colleges and universities spread across the central Appalachian mountains in Kentucky , North Carolina , Tennessee , Virginia , and West Virginia . Collectively these higher education institutions serve approximately 42,500 students. Six research universities in

1147-450: The very broad formula of a civil partnership provided for entities that undertake to cooperate in a designated way to achieve a common economic goal (which is a common element for both types of contracts), the partnership contract do not exhaust all forms of cooperation and automatic qualification of consortium contracts as partnerships is not allowed. Five College Consortium The Five College Consortium (often referred to as simply

Overseas Containers - Misplaced Pages Continue

1184-757: Was a slight modification to the ships' colour scheme, the hulls becoming completely green and the OCL logo on the funnels being replaced with the P&;O logo. Later the hulls and funnels were painted dark blue.. The naming convention was retained, and in June 2006 there were still a couple of Bay ships in the Maersk Line fleet. Consortium Consortium is a Latin word meaning " partnership ", "association", or "society", and derives from consors ("shared in property"), itself from con- ("together") and sors ("fate"). The Big Ten Academic Alliance in

1221-471: Was able to replace several different fleets of aircraft in the adopting air forces. The Royal Saudi Air Force (RSAF) became the only export operator of the Tornado in addition to the three original partner nations. Including all variants, 992 aircraft were built. Coopetition , deriving from a portmanteau of cooperation and competition, is the word used when companies otherwise competitors collaborate in

1258-457: Was by then known) and British & Commonwealth. On 1 January 1987 the name OCL ceased to exist, the operation becoming known as P&O Containers Ltd (P&OCL). In 1996 P&O Containers merged with Nedlloyd to form P&O Nedlloyd . August 2005 saw the completion of a buyout of P&O Nedlloyd by the A.P. Moller-Maersk Group and in February 2006 the name Maersk Line was adopted for

1295-533: Was formed in 1965 by four British companies: British and Commonwealth Shipping , Furness Withy , P&O and the Ocean Steamship Company . Between 1969 and 1970 OCL took delivery of its first ships, a fleet of six vessels of 27,000  gross register tons  (GRT) and 1,900  twenty-foot equivalent units  (TEU) capacity for the UK / Europe to Australia route. Initially operating from

1332-602: Was founded in 1969 by the Five College Astronomy Department. Together, the Five Colleges operate WFCR (Five College Radio), an NPR member station operating at 88.5 MHz in the FM band. The Pioneer Valley Transit Authority (PVTA) provides free daily intra-campus bus service to students, staff, and faculty during the school year. The buses, some of them run by University of Massachusetts Transportation Services and operated by student workers, run on

1369-622: Was the Australia/UK one followed later by the Far East/UK route. Initial arrivals in Europe intended for the UK had to be diverted and transhipped via Rotterdam, because of unresolved industrial disputes in UK ports. OCL played a leading role in the development of CAMEL - the standardised format for electronic manifests. By 1982 OCL was Europe's largest container through transport operator with

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