The NOL Group has elected veteran technology executive, Donald G. Liedtke, as its chief information officer (CIO) - heading its organization of about 300 computer systems specialists. Liedtke, who was previously with Packard Bell NEC, will be based at the APL office in Oakland, Calif., which houses NOL's information technology group, as well as the global headquarters of APL Logistics - the container transportation and logistics arm of the NOL Group.
Neptune Orient Lines (NOL) Group President & CEO Ronald D. Widdows announced new senior management appointments to head the Group’s APL Logistics business unit and its South Asia Region organisation. Jim McAdam has been promoted and assumes the position of President, APL Logistics, the unit of the NOL Group that provides international supply chain capabilities for customers globally. He replaces Brian Lutt who recently left the Group to pursue other opportunities.
NOL Group announced its executive succession plan to appoint Mr. Ng Yat Chung the next Group President and Chief Executive Officer. Mr. Ng will take over from Mr. Ron Widdows, who will retire from his present post at the end of this year and remain as a Senior Adviser to the Company. Mr. Ng spent 28 years in key leadership roles in Singapore’s Armed Forces (SAF). Prior to assuming his present role as a senior executive with Temasek Holdings
Mitsui O.S.K. Lines, Ltd. (MOL) today announced a decision to order two containerships (8,600 TEU) from Mitsubishi Heavy Industries, Ltd., with delivery slated for 2013. Along with eight 8,100 TEU ships already in operation, the new vessels will be deployed to Asia-Europe routes. The company also reached an agreement with NOL Group* for a three-year charter of five large containerships (14,000 TEU) of 10 that NOL Group has on order
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:
Shipping company Neptune Orient Lines Ltd (NOL) said on Friday its third-quarter net loss widened from a year earlier to $96 million, due to weak freight rates. NOL, controlled by Singapore's state investor Temasek Holdings, reported a revenue of $1.2 billion for the third quarter, which fell 28 percent on the year. "The absence of the traditional third-quarter peak season in Europe and North America led to severe freight rates erosion in major trade lanes
Neptune Orient Lines Ltd (NOL), the world's sixth largest container shipping group, apologized to shareholders in a Singapore newspaper advertisement on Thursday for its recent one-day share suspension and price drop. "It is regrettable if the suspension has caused you concern and inconvenience," Flemming Jacobs, NOL Group president and CEO, said in a Business Times announcement. "I am sure you were as disappointed as I was at the suspension and the subsequent drop in the share price
Global container shipping and logistics group Neptune Orient Lines (NOL) reported a net profit of $100m for the second quarter of 2010. That was up from a net loss of $146 million in the second quarter of 2009. The Group’s Core EBIT (Earnings Before Interest and Taxes) for the quarter was $114 million compared to a Core EBIT loss of $131 million in the same quarter a year ago. Second quarter 2010 revenue increased 53% to $2.1 billion.
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. She is also the largest container ship to be registered in Singapore. “Today, we celebrate a landmark in NOL’s history,” said NOL Group Chairman Mr Kwa Chong Seng
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. Singapore-based NOL attributed the better showing so far this year to its continuing focus on operational efficiency and cost management. Its two operating companies – APL and APL Logistics – both delivered better 2013
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
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
Neptune Orient Lines(NOL) confirmed that it is continuing in discussions with respect to a potential acquisition of the group as previously announced on Nov 7 on the local bourse, reports Business Times. This comes after the Singapore Exchange Securities Trading Limited (SGX-ST)
CMA CGM confirms that it has entered into exclusive discussions with Neptune Orient Lines Limited (NOL) and Lentor Investments Pte. Ltd. (a wholly-owned subsidiary of Temasek Holdings (Private) Limited), its controlling shareholder, with respect to a potential combination with NOL
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
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
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%.
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, 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
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'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 sells APL Logistics to Kintetsu World Express Neptune Orient Lines Limited (NOL) announced that it has completed the sale of its logistics business, APL Logistics Ltd (APLL), to Kintetsu World Express, Inc. (KWE) for an aggregate purchase price of $1
Singapore state investment company Temasek Holdings has put up its struggling $1.7 billion shipping company for sale, the Wall Street Journal reported, citing people familiar with the matter. Neptune Orient Lines Ltd (NOL), 65 percent-owned by Temasek
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
As Singapore's sovereign wealth fund, Temasek, readied is to sell Neptune Orient Lines (NOL), the market has been rife with merger talk with Hong Kong's Orient Overseas International Ltd (OOIL) and Hamburg's Hapag-Lloyd being leading candidates.