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Company description | ||||||||||||
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Financial Highlights | ||||||||||||
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Directors and officers | ||||||||||||
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Presidents letter to shareholders | ||||||||||||
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Discussion by division | ||||||||||||
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Financial Review | ||||||||||||
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Shareholder and investor information | ||||||||||||
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| Sea Containers Ltd. is a Bermuda company with operating subsidiaries in
London, Genoa, New York, Rio de Janeiro and Sydney. It is owned primarily by
U.S. shareholders and its common shares are listed on the New York Stock
Exchange under the trading symbols SCRA and SCRB. The company is engaged in three main activities: passenger transport, marine container leasing and leisure-based operations. Within each segment is a number of operating units. Passenger transport consists of fast ferry operations in the English Channel under the name Hoverspeed Ltd., both fast and conventional ferry services in the Irish Sea under the name Isle of Man Steam Packet Company, fast ferry operations in New York under the name SeaStreak, fast and conventional ferry services in the Baltic under the name Silja Line (50% owned) and in the Adriatic under the name SNAV-Hoverspeed (50% owned). Rail operations in the U.K. are conducted under the name Great North Eastern Railway (GNER), and the company has port interests in the U.K. and Greece. Ship management and naval architects subsidiaries support the passenger transport division and have outside clients as well. Marine container leasing is conducted primarily through GE SeaCo SRL, a Barbados company owned 50% by Sea Containers and 50% by General Electric Capital Corporation. GE SeaCo operates one of the largest marine container fleets in the world, nearly one million units. Sea Containers also owns or partly owns six container service depots, five container manufacturing facilities and a refrigerated container service business. It owns two container ships which are chartered out in Asia and the Middle East. The company's leisure business is conducted through Orient-Express Hotels Ltd., a 63% owned subsidiary. Orient-Express Hotels' common shares are listed on the New York Stock Exchange under OEH. This company has 41 de luxe leisure properties in 16 countries. Most of the properties are owned but some are partly owned, and one tourist train is only managed. One joint venture is PeruRail, the railways of Peru, which operates tourist trains on the Cuzco/Machu Picchu route and from Cuzco and Arequipa to Lake Titicaca. PeruRail has extensive freight train operations as well. The hotels, restaurants, river cruise ship and tourist trains compete in the top end of the market. Other activities of Sea Containers include property development, publishing, fruit farming in the Ivory Coast and Brazil and a U.K.-based travel agency. |