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.

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 Announces Succession Plan for Group CEO

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 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 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

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 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

New Directors Named at NOL

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

NOL 1Q Profit Up 183%

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