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Flemming R Jacobs News

08 Oct 2001

NOL Reports Half Profit of $1M

In summarizing his company's results, Flemming R. "We have achieved much. We came from a difficult past and we are on the right track to return to full health, but we are not there yet. We would have preferred a little more time to consolidate all we have achieved and are achieving before having to deal with a severe downturn in the economic environment like this one. "Today the NOL Group is clearly focused on building its three core businesses: APL, the Liner business; APL Logistics (APLL); and the tanker business, American Eagle Tankers (AET). Volumes in Europe were up 14 percent and rates up 1 percent, while in Asia/Middle East rates were up three percent.

12 Apr 2002

Everard to address China WTO Shipping Summit

BIMCO's President, Michael Everard, has been invited to chair the opening session of the China World Trade Organization (WTO) Shipping Summit, which will be held in Shanghai, China, from 18 to 19 April 2002. After making the opening remarks on the first day, Mr. Everard will introduce the panel, which includes: Mr. Administration Department, Ministry of Communications (MOC); Mr. Cooperation (MOFTEC); Captain Wei Jiafu, President of China Ocean Shipping (Group) Company (COSCO) and member of the BIMCO Executive Committee; Mr. Dirk Fry, President of the International Ship Managers As-sociation (ISMA); Mr. Todd Pigeon, Vice President of Maersk Data USA Inc.; Mr. Flemming R. Jacobs, Group President and CEO of Neptune Orient Lines Ltd. (NOL); Mr. Sooho Cho, Vice Chairman of Hanjin Shipping Co.

07 Sep 2001

NOL Reports First Half Profit of $11M

In summarizing his company's results, Mr. Flemming R. "We have achieved much. We came from a difficult past and we are on the right track to return to full health, but we are not there yet. We would have preferred a little more time to consolidate all we have achieved and are achieving before having to deal with a severe downturn in the economic environment like this one. "2001 is proving a tough year -- and, while this result is disappointing, we have to remember where we started from and accept that sustained profitability is not achieved magically overnight," Jacobs said. The Group recorded serious losses in 1997-98 when the Asian crisis hit just as it had purchased the American liner business, APL.

11 Oct 1999

NOL Appoints Two Senior Managers

Neptune Orient Lines Ltd, (NOL) has hired two veteran officials at Sea-Land Service as senior executives in its container transportation arm, APL. Edward W. Aldridge, currently Senior Vice President for North America at Sea-Land will become President of APL's Americas Region. Daniel J. McHugh, currently Vice President of the Americas Division at Sea-Land, will become President of APL's Asia-Middle East Region. Tim Rhein, current President and CEO of APL Limited, will continue at the company in a broader capacity to be announced, according to Flemming R. Jacobs, President and Chief Executive Officer of NOL. Aldridge and McHugh round out the team of three senior regional executives at APL reporting to Jacobs.