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NOL Invited into Next Stage of Hapag-Lloyd Sale Process

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.


NOL to Help Develop a New Container Terminal

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%.


NOL Expects It To Be A Profitable Year

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 Appoints Held CEO

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


NOL Group Signs Contracts for Containerships

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 Appoints Leading Senior Counsel to Board

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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


NOL Chief Aims To Beat The Odds

Neptune Orient Lines' (NOL) new CEO Flemming Jacobs reportedly announced his top priority was to turn around the indebted Singapore-based shipping group.


NOL Shares Drop On Re-Rating Rumor

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


NOL Shipmanager Wins Top Award

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


NOL Gets Nod For $500M Fund Plan

Neptune Orient Lines’ (NOL) shareholders reportedly approved a $500 million capital raising initiative at an extraordinary general meeting.


APL Logistics Named Carrier of the Year by Barilla Pasta

Image courtesy of APL Logistics

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


Singapore's NOL Q1 Net Loss Narrows

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


New Port of LA Executive Director Nominated

Gene Seroka: Photo Port of Los Angeles

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


NOL Cuts Losses Despite Difficult Trading Conditions

  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%.


Efficiency Improvements Defray NOL Financial Loss

Container shipping & logistics group Neptune Orient Lines (NOL) publishes it year 2012 financial report. The Group posted a full year net loss of US$419 million, mainly due to a first quarter net loss (before non-recurring items) of US$255 million and one-time charges of US$108 million


NOL Names Its Largest Container Ship

APL Temasek Naming Ceremony: Photo credit NOL

The 14,000-TEU container ship was named 'APL Temasek' by Mrs Mary Tan, wife of the Republic’s President at a Singapore ceremony. APL Temasek is the first in a series of ten 14,000-TEU vessels on order by the Singapore-based shipping and logistics group


Rickmers CEO Joins Annual International Maritime Hall of Fame

Ronald D Widdows

Ron Widdows, CEO of Rickmers Group and Rickmers-Linie, was inducted into the Annual International Maritime Hall of Fame in recognition of his outstanding contribution to the global maritime industry. He was one of only six people awarded the honor in a ceremony in New York on May 8


NOL Reports $148 Million Year-On-Year Improvement

NOL Group reported first quarter 2013 Core EBIT (Earnings Before Interest, Taxes and Non-Recurring Items) loss of $85 million, a 64% improvement or $148 million, in the key profitability measure from a year ago. NOL attributed the improvement to a continuing focus on operational efficiency and


NOL Appoints Tom Behrens-Sørensen to Board

NOL Group announced thatTom Behrens-Sørensen will join its board of directors July 1 and will serve as a member of both the Executive Resource and Compensation Committee and the Enterprise Risk Management Committee. A shipping veteran with more than three decades of international


APL Name Fifth of 12 New Container Ships

APL Savannah naming: Photo credit APL

APL has named their new 9,200-TEU (twenty-foot equivalent unit) container ship 'APL Savannah' at the Port of Los Angeles. The APL Savannah is the fifth in a series of twelve 9,200-TEU vessels to be delivered to APL, the container shipping arm of Singapore-based shipping and logistics company


NOL Reports $20m 3Q Profit

Ng Yat Chung, CEO of NOL Group

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.


Diana Containerships Sells M/V Spinel for Scrapping

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


New President of APL Logistics Appointed

Beat Simon: Photo credit NOL Group

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.


NOL’s 2013 Financial Performance up 82%

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


Comparison Offers Clues on Container Ship Operation Profitability

Container ship bows: File photo CCL

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






 
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