Ronald D Widdows News

Funds advised by Oaktree Capital Management, LP and the global shipping major Rickmers Group are joining forces to invest in eight plus eight eco designed newbuild container vessels. Oaktree Capital Management LP is a leading global investment management firm focused on alternative markets with US$81 billion assets under management (as at 30 September 2012). Rickmers will contribute its highly respected expertise in ship building, ship management and asset management. The strategic partnership between the two firms is expected to broaden over time. Shipping companies are increasingly  demanding modern and energy efficient tonnage to reduce their operational expenses and importantly…

The Rickmers Group has appointed Robert Sappio to the position of President and CEO of Rickmers Americas. He will report to Ronald D Widdows, CEO of Rickmers Holding. Sappio will be responsible for all aspects of Rickmers Group’s business in the Americas: including Rickmers-Linie (America) which is based in Houston, Texas, and the Maersk-Rickmers US Flag joint venture, which operates multi-purpose heavy lift cargo ships. For the Rickmers-Linie business, Mr Sappio will also report to Ulrich Ulrichs and Rüdiger Gerhardt…

Ron Widdows to take over from Jan B Steffens as CEO of Rickmers Holding and Rickmers-Linie. After ten very successful years with the Rickmers Group and especially, with Rickmers-Linie, Jan B Steffens will by 31 March 2012 step down from the twin positions of CEO of Rickmers Holding and of Rickmers-Linie although he will continue to serve on the Rickmers Group advisory board. Ronald D Widdows, former CEO of NOL/APL, is to become the new Chief Executive Officer of Rickmers Holding and Rickmers-Linie as of 1 April 2012. Rickmers’ Chief Financial Officer Dr Ignace Van Meenen will act as his deputy. Announcing this change, Bertram R C Rickmers…

Global container shipping and logistics group Neptune Orient Lines (NOL) reported a net loss of $67 million for the first half of 2011 compared to a $1 million net profit in the same period a year ago. The Group said it lost $57 million in the second quarter of 2011. NOL reported a 9% revenue increase in the first half of 2011 to US$4.595 billion. It announced a Core EBIT (Earnings Before Interest and Taxes) loss of US$28 million. The Group said first half 2011 results were affected by higher operating costs, especially for fuel, and declining freight rates. It added that its supply chain management business, APL Logistics, increased revenue and Core EBIT. “Conditions are challenging throughout the shipping industry,” said NOL Group CEO Ronald D. Widdows.

NOL Group announced the resignation of Eng Aik Meng as President of its APL shipping business. The container transportation and logistics group has named Kenneth Glenn, currently President of its North Asia Region, as his replacement. NOL said Mr. Eng will leave the company September 1, 2011, to take a new position outside the transportation industry. "We understand Aik Meng's desire to begin a new phase in his career, and we thank him for his contributions to NOL," said Group CEO Ronald D. Widdows. Mr.

NOL Group, the Singapore-based container shipping and logistics company, today reported a first quarter 2011 net loss of US$10 million compared to a net loss of US$98 million in the same period last year. NOL said first quarter 2011 revenue was US$2.4 billion, up 16% from a year ago. First quarter Core EBIT (Earnings Before Interest and Taxes) was US$13 million, compared to a Core EBIT loss of US$74 million in the same period last year. “In spite of year-over-year volume growth…

NOL Group today reported net profit of US$461 million for 2010, representing a US$1.2 billion turnaround from its US$741 million loss in 2009. The container shipping and logistics company said that group revenue reached an all-time high of US$9.4 billion, up 45% from last year. NOL’s fourth quarter net earnings were US$177 million. That compared to a US$211 million loss in the same period a year ago. NOL reported 2010 Core EBIT (Earnings Before Interest and Taxes) of US$557 million, compared to a Core EBIT loss of US$651 million in 2009. Core EBIT in the fourth quarter was US$198 million. “Strong demand from shippers and rate increases in our major trade lanes helped drive the turnaround,” said NOL Group CEO Ronald D. Widdows.

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. “Continued strong container shipping volumes and improving freight rates have helped return us to profitability,” said Group President and CEO Ronald D. Widdows. NOL reported Core EBIT (Earnings Before Interest and Taxes) of $40 million for the first half of 2010, compared to a $353 million Core EBIT loss a year ago.

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. McAdam is currently APL’s President South Asia Region and prior to that was President of the Asia/Middle East Region from 2006. From 2004 to 2006 he was NOL’s Senior Vice President, Business Solutions, responsible for developing and implementing supply chain solutions for some of the Group’s largest global customers.