ISS Appoints Schollaert
Inchcape Shipping Services (ISS), the world's leading maritime, cargo and supply chain solutions provider has announced a key hire to its senior management team with the appointment of Steve Schollaert as Executive Vice President for North America region. Steve joins ISS with extensive experience at American President Lines (APL) where he held senior positions with responsibility both domestically and internationally in the areas of operations and commercial. In addition to APL, he has worked with Kansas City Southern Railroad, responsible for sales and marketing and as a business consultant to private equity firms.
Sappino Leaves APL After 29 Yrs
APL said today that 29-year veteran Bob Sappio, head of the shipping line’s PanAmerican Trades, will leave the company August 1 to remain in the San Francisco Bay Area. Sappio has been the head of APL’s Trans-Pacific Trade since 2003. He played a key role in establishing APL as the leader in the Trans-Pacific and in building its brand reputation for high-quality service in the industry, said Ron Widdows, CEO of parent company NOL Group. “I’ve devoted my entire career to APL – a company I have tremendous affection and respect for,” said Sappio, who joined the container carrier in 1982. Sappio guided APL to a top market share position in the route between Asia and the U.S. West Coast.
NOL posts 2008 Net Profit After Restructuring
On Feb. 6, global container shipping and logistics group, Neptune Orient Lines (NOL), reported a net profit for 2008 of $83m, 84% lower than 2007. The Group’s 2008 Core EBIT of $213m was down 64% from the prior year. For the fourth quarter of 2008 (4Q08), the company reported a net loss of $149m and a loss at Core EBIT level of $45m. The fourth quarter result includes $72m of restructuring charges. Revenue for 2008 was up 14% year-on-year to a record $9.29b. Announcing the results, NOL Group Chairman, Mr. Cheng Wai Keung, said “2008 was a year of dramatic change, in which our Group faced some of the most turbulent conditions in its long history. NOL Group President and Chief Executive Officer, Mr.
