Neptune Orient Lines Limited (NOL) has been invited to continue into the next phase of the bidding process for the sale of the Hapag-Lloyd container shipping business. NOL submitted an indicative non-binding bid to acquire Hapag-Lloyd to the company’s owner TUI AG on 21 July 2008. Any agreement would be subject to, among other steps, due diligence, submission and acceptance of NOL’s final bid, regulatory approvals and NOL shareholders’ approvals. If successful, NOL would integrate its APL container shipping business with Hapag-Lloyd, which would create the world’s third-largest container carrier. While the process is underway, NOL will be bound by strict confidentiality undertakings, which legally restrict the company’s ability to share information. NOL is committed to keeping stakeholders informed of important developments.
Neptune Orient Lines (NOL) has been advised by the Port of Rotterdam that a consortium comprising NOL, Hyundai Merchant Marine, Mitsui OSK Lines, DP World and CMA CGM has been awarded the right to equip and operate the first container terminal to be developed at Maasvlakte 2 in Rotterdam. The 156 hectare terminal will have a capacity of around 4 million TEU and is expected to be operational in 2013. NOL’s share of the consortium will be 20%.
Neptune Orient Lines Ltd. (NOL) expects a better second half and overall profit in the current year. NOL said the bottoming out of the Asian economic crisis had resulted in higher cargo volumes in most sectors. Freight rates out of Asia to Europe and North America had also increased since mid-year, it said in comments accompanying its result. NOL reported last Wednesday an interim net profit, the first time in two years
NOL Group confirmed it has signed contracts with Korea's Daewoo Shipbuilding & Marine Engineering Co. and Hyundai Samho Heavy Industries Co., Ltd to build 12 new container vessels, including ten of its largest vessels. The confirmation follows the Group’s announcement on June 15 that it had signed letters of intent with both shipyards for its $1.54 billion newbuild program. The signed contracts are for:
NOL Group has announced the appointment of Senior Counsel Mr Alvin Yeo to its Board of Directors. Subject to shareholders’ approval at NOL’s Annual General Meeting on 18 April 2013 (“AGM”), Mr Yeo, Senior Partner at WongPartnership LLP, will join the Board after the AGM. He will serve as a member of the Executive Committee and Nominating Committee. Two of NOL’s current Directors, Mr Christopher Lau Loke Sam and Mr Peter Wagner
The Chairman of Neptune Orient Lines Limited (NOL), Cheng Wai Keung, announced the appointment of Dr. Thomas Held as Group President and Chief Executive Officer (CEO) of NOL, effective November 1, 2006. Dr. Held will also be appointed a member of the NOL Board of Directors. Dr Held is a German national, whose most recent appointment was as Chairman and CEO of European-headquartered Schenker AG, one of the world’s leading providers of integrated logistics services
The ship management arm of container transportation and logistics group NOL has received the Excellence in Training Development accolade at the Singapore International Maritime Awards 2007. Neptune Shipmanagement Services (Pte) Ltd (NSSPL), which is responsible for running the ship fleet of NOL’s container shipping business, APL, received the award at a gala ceremony in Singapore. The awards, which are judged by independent panel
Neptune Orient Lines' (NOL) new CEO Flemming Jacobs reportedly announced his top priority was to turn around the indebted Singapore-based shipping group.
Shares of Neptune Orient Lines (NOL) fell almost seven percent in heavy trade on talk there was some re-rating of the stock following changes in the Morgan Stanley Capital International (MSCi) index. The shipping group was down 15 cents or six percent at S$2.28 after hitting a low of S$2.26 earlier. Aside from the index news, there is reportedly concern that the group could be affected by rising bunkering charges. Put in perspective
Neptune Orient Lines’ (NOL) shareholders reportedly approved a $500 million capital raising initiative at an extraordinary general meeting.
Singapore's Neptune Orient Lines (NOL) may be shaping up as a takeover candidate, a report in Bloomberg said. The appeal of the shipping company that helped cement Singapore's status as a global trade hub has increased after it agreed to sell its logistics unit last month for US$1
Neptune Orient Lines (NOL) has sold APL Logistics (APLL) to Kintetsu World Express (KWE) for $1.2 billion in a stunning deal that gives the Singapore-listed group a net gain of more than $900 million. The KWE Group considers the establishment of a management base that can compete on a
Japanese freight carrier Kintetsu World Express Inc is buying Singapore's APL Logistics for US$1.2 billion, paying a higher than anticipated price for an overseas deal at a time of slow domestic growth. Tokyo-headquartered Kintetsu Express said on Tuesday that it agreed to pay S$1
SINGAPORE, TOKYO, 17 February 2015 – Neptune Orient Lines Limited (“NOL”) and Kintetsu World Express, Inc. (“KWE”), jointly announced today that they have entered into a sale and purchase agreement for NOL’s logistics business, APL Logistics, for US$1.2 billion
Neptune Orient Lines (NOL) reported a 2014 net loss of $260 million today, marking the third consecutive year in the red for the Singapore-based global shipping company. NOL, parent company of APL, did reduce its 2014 fourth quarter Core EBIT (Earnings Before Interest
Singapore's Neptune Orient Lines Ltd slipped into the fourth straight year of losses in 2014, though the fourth-quarter net loss narrowed from a year earlier, the company said on Friday. The shipping and logistics company reported a net loss of $259
NOL Group today posted a 2Q 2014 net loss of US$54 million. Nevertheless, the Group has continued to make gains at the operating level, bringing its 2Q 2014 Core EBIT (Earnings Before Interest, Taxes and Non-Recurring Items) loss down to US$15 million, a year-on-year improvement of 52%.
Mayor Eric Garcetti has nominated Gene Seroka, an executive with APL shipping line, as the next Executive Director of the Port of Los Angeles. The Board of Harbor Commissioners will consider Mayor Garcetti's nomination at its June 5th meeting
Container shipper Neptune Orient Lines Ltd posted a net loss of $97.9 million for the quarter ended April 4, a narrower loss from the previous quarter. NOL, in which Singapore's state investor Temasek Holdings has a 67 percent stake, recorded a net profit of $75
APL Logistics of Scottsdale, Arizona, provides over the road trucking and intermodal services for Barilla in the U.S. They explain that they achieved perfect scores in categories such as on-time pick-up and delivery and load completion, exceeding requirements and expectations set by Barilla
The container industry is a notoriously difficult sector to make any money in, but a few major lines have managed to avoid the red ink while others have toiled. Drewry Maritime Equity Research compares the performances of Asian companies OOIL and NOL for clues behind the varying results and the
Group narrows net loss; lifted by $470 million (USD) cost savings and building sale. NOL Group today reported a 2013 net loss of $76 million, improving 82 percent from a $412 million loss the previous year. The group’s full year financial results were helped by a non-recurring $200
NOL Group has announced the appointment of Beat Simon as President of its wholly-owned subsidiary APL Logistics, a global third party logistics provider. He will assume the role on 1 March 2014, undertaking responsibility for the management and growth of APL Logistics.
Diana Containerships Inc. (Nasdaq:DCIX) signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 1996-built vessel Spinel (formerly APL Spinel) for demolition, with delivery due to the buyers by December 20, 2013
NOL Group reported net profits of $20 million for the third quarter of 2013, and year-to-date net profits of $61 million. The Group posted year-to-date Core EBIT improvement of 33% or $42 million, from a $127 million deficit in the same period last year.