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.
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 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
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:
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
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
New Directors Named at NOL Neptune Orient Lines (NOL) has appointed Ang Kong Hua and Willie Cheng Jue Hiang, to the Board of Directors, and confirmed Ron Widdows as CEO of its container transportation unit, APL. Ang Kong Hua becomes a Vice Chairman of the Board, joining Dr Friedbert Malt in this role, and will sit on both the Board’s Executive Committee and Nominating Committee. Willie Cheng Jue Hiang will serve on the Audit Committee in addition to his responsibilities as a member of the
Neptune Orient Lines (NOL) reported a net profit for the first quarter of 2008 (1Q08) of $121 million, a rise of 183% over the same period of 2007 (1Q07). 1Q08 EBIT was $137 million, up 114% on the prior year. Revenue rose year-on-year by 27% to $2.41 billion. “Our increased revenue clearly shows our Group is well positioned in a growth industry. At a time of economic uncertainty and unprecedented fuel costs, we have again illustrated the viability of our business model and our strong
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
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 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
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
Group’s 4Q 2012 performance improves 75%; meets cost saving goal of US$500 million Global container shipping and logistics group Neptune Orient Lines (NOL) reported fourth quarter 2012 Core EBIT (Earnings Before Interest and Taxes) loss of US$69 million
Diana Containerships Inc. (Nasdaq:DCIX), signed through a separate wholly-owned subsidiary, a Memorandum of Agreement with Neptune Orient Lines Ltd. for the purchase of a 1995-built. Panamax container vessel of approximately 4,750 TEU capacity, the m/v "APL Garnet"
Increased operational efficiency, better market conditions boost Group’s performance. NOL Group reported net earnings of $50 million for the third quarter of 2012, a $141 million turnaround from the $91 million net loss in the third quarter of 2011
Singapore's Neptune Orient Lines (NOL) Group reports US$57 million Year-on-Year improvement in Core EBIT. Excerpts from the financial report follow: NOL Group report second quarter 2012 Core EBIT (Earnings Before Interest and Taxes) of US$16 million
High fuel costs, low freight rates conspire to create tough 1Q NOL Group, the Singapore-based container shipping and logistics company, reported a first quarter 2012 net loss of 254 million compared to a net loss of $10 million in the same period last year
NOL Group today reported a $478 mnet loss in 2011 following net earnings of $461m in 2010. The container shipping and logistics company said unsettled economic conditions, high fuel costs and lower freight rates impacted results. In assessing the market going forward
Diana Containerships Inc. Announces the Delivery of a Panamax Container Vessel, the APL Sardonyx, and the Drawdown of an Additional US$8.4 Million From the Revolving Credit Facility With RBS. Diana Containerships Inc., a global shipping company specializing in owning and
Diana Containerships Inc. (Nasdaq:DCIX), signed two Memoranda of Agreement with APL (Bermuda) Ltd. for the purchase of two Panamax container vessels, the m/v "APL Sardonyx" and the m/v "APL Spinel". The m/v "APL Sardonyx" is a 1995-built vessel of approximately 4
Seven directors were elected to the Board of the UK P&I Club at its AGM in Athens on the 27th October. Biographical details: brahim Güngen: Chief Executive Officer of Güngen Maritime & Trading A/Ş, Ankara, Turkey
APL and law enforcement officials including the FBI successfully tested anti-terrorism capabilities at the shipping line’s Seattle, Washington marine terminal. It was the seventh full-scale security exercise conducted by the global container carrier in the past six years
NOL Group has completed the transition to a new CEO and that Ng Yat Chung will take the helm of the global transport and logistics company October 1, 2011. Mr. Ng, an NOL Executive Director since May, will succeed Ron Widdows who retires from the company Dec. 31.