 In 1977 the "Nederlandsche Scheepvaart Unie N.V." holding company as a whole was renamed "Koninklijke Nedlloyd Groep N.V." – Royal Nedlloyd Group.In 1981 the "Koninklijke Nederlandsche Stoomboot Maatschappij" (KNSM), whose financial situation had deteriorated considerably, was taken over by Nedlloyd.Before then the KNSM was still optimistic about surviving in the trading areas of the Caribbean, Mediterranean and South America.