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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

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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'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

Pic: CMA CGM

 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


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


CMA CGM Acquisition NOL: Aprroval Expected by Mid-2016

Image: Neptune Orient Lines Limited

 CMA CGM acquisition target Neptune Orient Lines (NOL) has made all necessary anti-trust filings and expect that the approvals will come sometime in the middle of 2016.   NOL group president and chief executive Ng Yat Chung said NOL


NOL Posts Loss

Photo: Neptune Orient Lines Limited

Neptune Orient Lines (NOL), the parent of containerline, APL, narrowed its fourth-quarter loss to US$75.45 million as the shipping company cut costs amid ongoing weakness in the industry.   For the full year, NOL swung to a net profit of US$707.2 million, or 27


CMA CGM Expects Market-beating Container Volumes Again This Year

Photo: CMA CGM

French-based CMA CGM, the world's third-largest container shipping firm, said on Monday it expects its volume growth to outperform the market again in 2016 after strong expansion last year helped it cushion a slide in freight rates.  


CMA Offers Concessions to get EU Approval for NOL Deal

File image: the CMA CGM Ben Frnklin (Marad)

French container shipping group CMA CGM has offered concessions in a bid to win European Union antitrust approval for its $2.4 billion takeover of Singaporean rival Neptune Orient Lines. CMA CGM, which ranks behind No. 1 Maersk Line and Swiss peer MSC in global shipping


Box Shippers Form Asia-focused Ocean Alliance

Photo: CMA CGM

France's CMA CGM and China's COSCO Container Lines are to form a four-way vessel-sharing alliance with Evergreen Line and Orient Overseas Container Line focused on Asia routes, CMA CGM said on Wednesday.   Container shipping has seen route-sharing develop in response to a severe downturn in


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


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






 
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