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Nol Group

NOL Appoints New Chief Information Officer

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.


NOL Key Senior Appointments

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 Announces Succession Plan for Group CEO

nol-logo.gif

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


MOL Orders New Containerships

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 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 Records Q3 Loss, Freight Market Remains Weak

Ng Yat Chung (Photo: NOL)

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


NOL Apologizes For Share Suspension, Price Drop

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


NOL Group Nets $100m in Q2

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.  


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. 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 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. 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


CMA CGM Buys Additional Shares In NOL from Open Market

Photo: American President Lines (APL), wholly owned by NOL (Neptune Orient Line)

 French carrier CMA CGM, which has announced its bid to acquire Neptune Orient Lines for S$3.4bn ($2.4bn) in cash, is slowly building a stake in Neptune Orient Lines (NOL) for less than the price per share it has offered in a planned takeover deal.  


CMA CGM Keeps Buying NOL Shares

Pic: Neptune Orient Lines

 French liner giant CMA CGM has acquired last week a total of 2.26 million shares in Neptune Orient Lines (NOL), six months before it is scheduled to make good its S$3.4 billion takeover bid for the Singapore-listed liner, reports Business Times.  


G6 Alliance to Operate its Service Structure as Aligned Through 2016

Image: Neptune Orient Lines

 On 7 December 2015, Neptune Orient Lines (NOL), parent company of G6 Alliance member APL, announced the potential acquisition of NOL by CMA CGM.     The transaction is subject to regulatory approvals. Until there is further development


CMA CGM Ups NOL Stake to 2.32%

Pic: Neptune Orient Lines

 French container shipping group CMA CGM bought an additional 2.4 million shares in takeover target Neptune Orient Lines (NOL) from the open market on Thursday at $1.235 and $1.24 per share, says a report in the Business Times.  


NOL Acquisition Soon?

Pic: Neptune Orient Lines

 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 in Talks to Buy NOL

Courtesy CMA CGM

  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


CMA CGM Seeking Funds for NOL Takeover

Pic: Neptune Orient Lines Ltd

 France’s CMA CGM has approached banks to finance its potential takeover bid for Singapore’s Neptune Orient Lines Ltd (NOL), reports Bloomberg.   The world’s No. 3 container shipping company is in talks with banks including BNP Paribas SA


CMA CGM Secures Bank Funding for NOL Takeover

Photo: CMA CGM

 CMA CGM has secured the necessary financial backing to proceed with an acquisition of Singapore's Neptune Orient Lines (NOL), Reuters reports, citing two people said to be familiar with the matter.   The French shipping giant is reported to have received “firm commitment”


CMA CGM to Acquire NOL

File Image: a CMA CGM containership underway. (CMA CGM)

The proposed cash acquisition of NOL at SGD 1.30 per NOL share, represents a 49% premium to NOL’s unaffected share price. Strategic acquisition resulting in combined turnover of USD 22 billion and fleet size of 563 vessels.   CMA CGM, a global leader in container shipping


NOL Deal Cements CMA CGM's World Status

Photo: CMA CGM

French container shipping giant CMA CGM is to buy Singapore's Neptune Orient Lines for $2.4 billion, making its biggest-ever acquisition to help it to ride out a severe market downturn.   The takeover, which the companies expect to proceed in mid-2016 following anti-trust approvals


Moody's changes outlook on CMA CGM's B1 ratings to stable

Photo: CMA CGM

 Moody's Investors Service has today changed to stable from positive the outlook on CMA CGM S.A.'s B1 corporate family rating, B1-PD probability of default rating and B3 senior unsecured rating.    Concurrently, Moody's has affirmed the ratings assigned to the company


Temasek to Sell Entire NOL Stake for $1.61 Billion

Photo by  Neptune Orient Lines Limited

 Singapore sovereign wealth fund Temasek Holdings has agreed to sell its entire 67 percent stake in Neptune Orient Lines (NOL) to France’s CMA CGM, the world’s third-largest container shipper.   CMA CGM will pay S$1.30 a share in cash for the 2


CMA CGM Vice-Chairman on NOL Takeover

Rodolphe Saadé, Vice-Chairman and member of the CMA CGM Group’s Board of Directors. Photo: CMA CGM

 CMA CGM vice-chairman Rodolphe Saade said that his company was the first ones to initiate the discussions with NOL and Temasek and it made sense to them, that is why they carried on with the discussions, according to a report in The Straits Times.  


G6 Alliance to Maintain Service Structure through 2016

Photo: NOL

Container shippers of the G6 alliance intend to maintain current service structure and operate as aligned through 2016, following news of CMA-CGM’s potential takeover of Neptune Orient Lines (NOL) announced earlier this week. Singapore-based NOL, parent company G6 member APL


CMA CGM Buys NOL Shares from Open Market, Below Par

Pic: Neptune Orient Lines

 CMA CGM SA has bought about 3.68 million shares of Singapore-based Neptune Orient Lines (NOL) on the open market at S$1.22 per share. The shares purchased make up 0.14 per cent of NOL's issued share capital, reports Straits Times.  






 
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