 As from 1990 Nedlloyd was facing a financial disaster and was forced to cash in by selling most of its non-shipping assets, and for the first time in its long history, banks were dictating the rules and pulling the strings.The shipping group no longer owned the new buildings and lease plans were created to finance the new building program and save the group from insolvency.In 1996, Nedlloyd Lines – the liner shipping division – merged with British P&O Containers Ltd to become P&O Nedlloyd, which was in turn taken over in 2005 by Maersk.