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Kintetsu World Express News

14 Feb 2019

Höegh RoRo Transports 112MT Transformer

Transporting a 112MT transformer across the world is no simple task. The stakes are even higher when the sophisticated cargo is destined for an oil and gas plant and time is of utmost importance.Global Freight Forwarder Kintetsu World Express (KWE) and CG Holdings Belgium NV Systems Division chose Höegh Autoliners, with its direct RoRo service, global agency network and breakbulk competence, to transport its 112 MT Transformer trailer from Antwerp to Dammam."With the customer’s tight deadline, Höegh’s Europe to the Middle East service was the perfect solution to transport the breakbulk unit, ensuring a timely service with minimum transit time," claimed a press release from the shipping company.When handling special and sensitive cargo, experienced cargo handling is imperative.

25 Jul 2018

K Line Settles Lawsuit Against APL Logistics

APL Logistics and K Line have announced that they have settled in a legal dispute, that sparked when employees from the logistics company spread bankruptcy rumours about the Japanese carrier."In September 2016, employees of APL Logistics Ltd.(APLL) sent erroneous e-mails to its customers which were not based on the facts regarding our financial situation. We thereafter filed a lawsuit at the Tokyo District Court in December 2016 demanding damages in relation to such e-mails," said a press release from K Line.It continued: "APL and its parent company, Kintetsu World Express, Inc., acknowledged the fact that the e-mails included an erroneous report…

09 Nov 2015

NOL in Acquisition Talks with CMA CGM, Maersk

Neptune Orient Lines Ltd (NOL)  has officially confirmed that it is a takeover target of two separate companies: French shipping company CMA CGM and Danish conglomerate AP Moeller-Maersk. As per a report in the Business Times, NOL said in an announcement on Saturday evening that it was in preliminary talks with the two "with respect to a potential acquisition of NOL". "There is no assurance that any such discussions will result in any definitive agreement or transaction, or that any offer for NOL will be made or as to the terms on which any such offer might be made," it said. The firm has been looking for a buyer for months. NOL, controlled by Singapore’s state investor Temasek Holdings, has been struggling in a prolonged downturn in the global shipping market.

17 Jul 2015

$1.7 billion NOL Up for Sale. Will Hapag-Lloyd Buy?

Singapore Sovereign Wealth Fund Temasek Holdings has put Neptune Orient Lines (NOL) up for sale, says a Wall Street Journal (WSJ) report. The WSJ reported that Temasek was in talks with one buyer in recent months but the two sides could not agree on a price for the loss-making company. The WSJ put NOL's market capitalization at 2.3 billion Singapore dollars ($1.7 billion). The report, citing unnamed sources, said the liner company has been "shopped to prospective buyers" in recent months. NOL is about 67 per cent owned by Temasek, going by Bloomberg data. The company had been in talks with a prospective buyer, but "the two sides couldn't agree on price", added the report.

16 Jul 2015

Temasek to Sell Neptune Orient Lines

Singapore state investment company Temasek Holdings has put up its struggling $1.7 billion shipping company for sale, the Wall Street Journal reported, citing people familiar with the matter. Neptune Orient Lines Ltd (NOL), 65 percent-owned by Temasek, announced in February the sale of its logistics business to Japanese freight carrier Kintetsu World Express Inc for $1.2 billion. NOL's move to sell its logistics business had renewed market speculation of a sale of the entire company. An NOL spokeswoman declined to comment, while Temasek Holdings was not immediately available after office hours. Reporting by Shubhankar Chakravorty and Anshuman Daga

29 May 2015

Neptune Orient Lines Sells Logistics Business

Photo: APL Logistics

Neptune Orient Lines sells APL Logistics to Kintetsu World Express   Neptune Orient Lines Limited (NOL) announced that it has completed the sale of its logistics business, APL Logistics Ltd (APLL), to Kintetsu World Express, Inc. (KWE) for an aggregate purchase price of $1.2 billion, subject to adjustments for the net cash and net working capital of APLL and its subsidiaries as at the completion date.   NOL said it will announce the final purchase price after such adjustments have been determined.

25 Mar 2015

Singapore Shipping Line NOL a Takeover Target?

Singapore's Neptune Orient Lines (NOL) may be shaping up as a takeover candidate, a report in Bloomberg said. The appeal of the shipping company that helped cement Singapore's status as a global trade hub has increased after it agreed to sell its logistics unit last month for US$1.2 billion to cut debt. Possibility of a sale may help Temasek Holdings Pte, the Singapore state's Sovereign Wealth Fund (SWF) that controls Neptune Orient, bolster returns. The $1.8 billion container line’s natural partner would be Orient Overseas International Ltd., controlled by the family of Hong Kong’s first post-colonial leader, according to Credit Suisse Group AG. Analysts project the company, which moves goods globally, will benefit from the U.S.

23 Feb 2015

Maersk May Reward Shareholders as Oil Unit Suffers

Danish conglomerate A.P. Moller-Maersk may announce a second share buyback scheme in its 110-year history as early as Wednesday, analysts said, allowing it to reward shareholders as its oil unit takes a battering from a slump in prices. Further divestments from its large portfolio of companies may also be on the radar, funding any buybacks or at least increased dividends, with the world's largest container shipping company focusing more closely on the shipping and oil industries. Maersk's will present its fourth quarter results at 0700 GMT on Wednesday. Net profit is expected to rise 9.8 percent to $1.0 billion, boosted by a 59 percent rise in container shipping but hit by a 50 percent drop in its oil business.

23 Feb 2015

NOL Sells APL Logistics to Kintetsu

Neptune Orient Lines (NOL) has sold APL Logistics (APLL) to Kintetsu World Express (KWE) for $1.2 billion in a stunning deal that gives the Singapore-listed group a net gain of more than $900 million. The KWE Group considers the establishment of a management base that can compete on a par with European and U.S. competitors in the global market to be one of the Group’s management priorities. In its Medium-Term Management Plan, released in May 2013, the entire Group is engaging in these measures. APLL is a logistics company with strengths in logistics services and various high-value-added services for companies in the automobile industry and retail industry, among others, and it is expanding its business globally, with a focus on North America and Asia.

18 Feb 2015

Kintetsu Pays $1.2bln for APL Logistics

Japanese freight carrier Kintetsu World Express Inc is buying Singapore's APL Logistics for US$1.2 billion, paying a higher than anticipated price for an overseas deal at a time of slow domestic growth. Tokyo-headquartered Kintetsu Express said on Tuesday that it agreed to pay S$1.6 billion to buy all of APL's shares from its parent, Neptune Orient Lines (NOL). Its own capital and bank loans will be used to fund the deal, it said. The sale of APL Logistics to the Japanese company will enable NOL to concentrate on its core but troubled container-shipping business. The Singapore Company said the deal will “unlock the value of the logistics business for its shareholders and strengthen the financial position of the NOL Group”.

17 Feb 2015

NOL, KWE Ink APL Logistics Deal

SINGAPORE, TOKYO, 17 February 2015 – Neptune Orient Lines Limited (“NOL”) and Kintetsu World Express, Inc. (“KWE”), jointly announced today that they have entered into a sale and purchase agreement for NOL’s logistics business, APL Logistics, for US$1.2 billion. “This is a strategic move that will allow us to focus on improving our liner shipping business, while at the same time enabling APL Logistics to grow. The transaction will also strengthen our balance sheet and unlock value for our shareholders,” said Ng Yat Chung, Group President and CEO of NOL. NOL said that the divestment of APL Logistics follows a robust and highly competitive process, and that the net proceeds of the sale will be applied to strengthen its financial position, including to repay its borrowings.

17 Apr 2014

DHL Expects Immunity in Price Fixing Investigation

Deutsche Post expects its DHL forwarding business to be granted immunity from prosecution and fines by Singapore antitrust authorities, who are investigating 11 companies for alleged price fixing, the German logistics company said. The Competition Commission of Singapore (CCS) said this month it was investigating 11 freight forwarding companies, including Deutsche Post unit DHL Global Forwarding, for alleged price-fixing of air freight forwarding services. Deutsche Post told Reuters last week that the probe related to pricing and surcharges in the forwarding industry from 2002 to 2007. Forwarders buy cargo space from airlines, shippers and truckers and bundle shipments for customers, such as carmakers, high-tech firms and agriculture firms.

12 Feb 2014

Ocean Carriers and NVOCCs Select Descartes

Descartes Systems Group announced that ocean carriers and nonvessel operating common carriers (NVOCCs) have selected Descartes' Japan Ocean Advanced Filing Rule (AFR) solution to help them comply with Japan's new advanced cargo security initiative, which takes effect March 10, 2014. Japan's AFR mandate requires ocean carriers and NVOCCs to electronically submit data to Japan Customs on maritime container cargo intended for a port in Japan no later than 24 hours before departure of the vessel from the port of loading.

06 Jan 2014

GATI-KWE Shifts to Logistic Services e-Billing

Gati-Kintetsu Express Private Limited (GATI-KWE), a joint venture company between Gati, India’s pioneer logistics provider, and Kintetsu World Express, Japan’s leading logistics provider has launched 'Green & Clean Billing' for their customers, offering e-bills linked to e-POD. The aim of this initiative, they explain, is to eliminate the need to physically print, deliver and maintain a hard copy of the bills and thereby help sustain the environment. Also, with the implementation of the new platform, customers can view their outstanding bills, payment history and can print the statements, invoices and POD copies at any time they require. The new e-billing is available with statements linked to POD copies by bill no. Bills would be emailed to multiple people at the customers end.