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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 in Acquisition Talks with CMA CGM, Maersk

Photo: Neptune Orient Lines Ltd

 Neptune Orient Lines Ltd (NOL)  has officially confirmed that it is a takeover target of two separate companies: French shipping company CMA CGM and Danish conglomerate AP Moeller-Maersk.    As per a report in the Business Times, NOL said in an announcement on Saturday evening that it was in preliminary talks with the two "with respect to a potential acquisition of NOL".    

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 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 Nets 4Q US$77 mln loss

Image: Courtesy NOL

NOL Group today reported a 4Q 2015 net loss of US$77 million, an improvement of US$8 million over 4Q 2014. The Group posted a Core EBIT (Earnings Before Interest, Taxes and Non-Recurring Items) loss of US$65 million in the quarter. Its Core EBITDA remained positive at US$39 million.   On a full year basis, NOL posted a net profit of US$707 million. Excluding a one-time US$888 million gain on the sale of its logistics unit, NOL incurred a full year net loss of US$181 million

CMA CGM Crosses 90% Ownership Threshold in NOL

Photo: CMA CGM

Container shipper CMA CGM S.A. has crossed the 90 percent ownership threshold in Neptune Orient Lines Limited (NOL), enabling it to bring the Singapore company private.   Following its all-cash voluntary conditional general offer (Offer) for NOL which was launched on June 6, 2016, CMA CGM now owns 2,361,044,044 shares representing approximately 90.68 percent of NOL’s share capital.   With the public float of NOL shares now falling below the minimum threshold of 10 percent

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:

$1.7 billion NOL Up for Sale. Will Hapag-Lloyd Buy?

Photo: NOL Group

 Singapore Sovereign Wealth Fund Temasek Holdings has put Neptune Orient Lines (NOL) up for sale, says a Wall Street Journal (WSJ) report.   The WSJ reported that Temasek was in talks with one buyer in recent months but the two sides could not agree on a price for the loss-making company. The WSJ put NOL's market capitalization at 2.3 billion Singapore dollars ($1.7 billion).   The report, citing unnamed sources

Neptune Orient Lines Logs Q2 Profit

Singapore's Neptune Orient Lines Ltd (NOL) swung to a tiny net profit in its second quarter after six straight quarters of losses but said it had seen severe freight rate erosion. "The group's container shipping business continued to face a challenging environment characterised by over-capacity and weak market demand," NOL Group CEO Ng Yat Chung said in a statement on Thursday. ( The container shipping line

NOL Appoints New CEO, CFO

Nicolas Sartini (Photo: NOL)

Amid a takeover by France’s CMA CGM, Singapore container shipper Neptune Orient Lines (NOL) has named a new chief executive officer and chief financial officer.   Nicolas Sartini will take over as chief executive officer, succeeding Ng Yat Chung, who has served as NOL president and CEO since 2011.   New chief financial officer Serge Corbel will join Sartini as executive directors of the newly constituted 10-member NOL board.  

CMA CGM Completes NOL Acquisition


 CMA CGM has reported its all-cash voluntary unconditional general offer for Neptune Orient Lines Ltd (NOL) closed on July 18, 2016, with CMA CGM now owning approximately 97.83 per cent of NOL's share capital.   Monday July 18 marked the last day of trading in shares of NOL on the

CMA CGM's Integration of NOL

Photo: Neptune Orient Lines

 After successfully acquiring a controlling interest in NOL, CMA CGM has consolidated the Singapore-based company since 14 June, says a press release from the company.   Singapore’s Neptune Orient Lines (NOL) is the parent company of container carrier APL.  

CMA CGM Posts Loss in Q2

Photo: CMA CGM

 Ocean Carrier CMA CGM reported a net loss of $128 million for the second quarter of 2016, compared to a net gain of $156 million for the second quarter of 2015.       Its revenue declined to $3.5 billion ($3.3 billion excluding the contribution from Singapore’s Neptune

CMA CGM Delists Neptune Orient Lines

File Pic: Neptune Orient Lines

 Shares of Neptune Orient Lines (NOL) - now a wholly owned unit of French container ship operator CMA CGM - delisted from the Singapore Exchange (SGX) with effect from 9am September 07.   CMA CGM said in a press release on Monday (Sep 5) that NOL had obtained the necessary waivers and

EU to Okay $2.4 bln Box Shipping Deal

File image: the CMA CGM Ben Franklin (Marad)

EU approval conditional on NOL pulling out from G6 alliance. French shipping group CMA CGM's $2.4 billion takeover of Neptune Orient Lines is set to be cleared by the European Union's competition regulators, on condition that NOL pulls out from a rival shipping alliance

EU Clears CMA CGM, NOL Merger, with Conditions

File image: a CMA CGM containership (Marad)

The European Commission said on Friday it had cleared French shipping group CMA CGM's $2.4 billion takeover of Neptune Orient Lines on condition that NOL pulls out from a rival shipping alliance. The announcement confirms a Reuters report on April 21 about the impending approval.

NOL Posts Q1 Net Loss of $105 Mln

Photo: NOL Group

NOL Group reported a first quarter 2016 net loss after tax of $105 million. Core EBIT (Earnings before Interest, Taxes and Non-Recurring Items) for the period was a loss of $84 million, while core EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) remained positive at $18

CMA CGM Stake in NOL Edges Past 10%

Pic: Neptune Orient Lines

 French container shipping giant CMA CGM now owns 10.07% of its takeover target Singapore's Neptune Orient Lines (NOL) as open share buys continue on a near daily basis.   The European Commission has approved CMA CGM's $3.38 billion acquisition of NOL

China Okays CMA CGM's Acquisition of NOL

Courtesy NOL

 CMA CGM S.A. (CMA CGM), a global leader in container shipping, announces that it has received today confirmation that its pending acquisition of Neptune Orient Lines (NOL), Southeast Asia’s largest container shipping company (SGX: N03)

CMA CGM Proceeds with NOL Takeover after China Okay

File Image: A CMA CGM boxship alongside during cargo operations (credit: Marad)

CMA CGM, the world's third-largest container shipping firm, is to go ahead with its planned acquisition of Singapore's Neptune Orient Lines (NOL) after receiving regulatory clearance from China, the French group said. CMA CGM received on Wednesday confirmation of the deal's approval by the

CMA CGM Intends Offer to Acquire NOL

Following the satisfaction and waiver (as the case may be) of the conditions set forth in the pre-conditional offer announcement dated 7 December 2015, CMA CGM S.A. (CMA CGM), announced its firm intention to make an all-cash voluntary conditional general offer (Offer) for all the outstanding

CMA CGM's Bid for NOL Open Until July 4

Photos: CMA CGM, Neptune Orient Lines

 CMA CGM has finally made its all-cash voluntary conditional general offer for all the outstanding shares of Neptune Orient Lines (NOL). This follows approvals by the relevant regulatory authorities in the European Union and China.  

CMA CGM Takes Control at NOL, Reshuffles the Board


 France’s CMA CGM now holds over 78 percent of the shares in Neptune Orient Lines (NOL), bringing it closer to taking the Singapore company private.   CMA CGM currently owns approximately 78.07% of all NOL shares, and does not intend to preserve the listing status of NOL.

CMA CGM to delist NOL

File image: (Marad)

French container shipping firm CMA CGM plans to delist Neptune Orient Lines (NOL) following its takeover of the Singaporean shipper, CMA CGM's vice chairman Rodolphe Saade told French daily Les Echos. CMA CGM, the world's third-largest container shipping company

CMA CGM Crosses 91.05% Ownership Threshold of NOL

File Pic: Neptune Orient Lines Ltd

 CMA CGM S.A has crossed the compulsory acquisition ownership threshold in Neptune Orient Lines Limited (NOL).    Following its all-cash voluntary conditional general offer (Offer) for NOL which was launched on June 6th, 2016, CMA CGM now owns 2,376,715

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