Former NOL Group CEO Passes Away

NOL Group today issued the following statement after the passing of former Chairman and CEO Lua Cheng Eng on 9 November, 2010: 

“NOL is deeply saddened by the loss of Mr. Lua Cheng Eng.  Mr. Lua was the CEO of NOL Group for 20 years from 1979 through 1999.  He built up NOL from a small shipping line to a major carrier with 120 ships.  He also presided over the most important transaction in Singapore’s maritime history through the merger of NOL and APL in 1997 and guided the integration of two great names in the maritime sector.”

NOL Chairman Cheng Wai Keung said: “Our thoughts and sympathies go out to the family and friends of Mr. Lua.  The NOL Group is today the fifth-largest container shipping company in the world.  We could not have achieved this position without Mr. Lua’s bold vision and years of contributions to the enterprise.  We are deeply indebted.”

Group CEO Ron Widdows recalled Mr. Lua as a highly respected shipping leader.  “Among many other affiliations, he was the President of the Baltic and International Maritime Council (BIMCO) and the Singapore Shipping Association; the Chairman of the Maritime Transport Committee at the International Chamber of Commerce; and a member of the Board of the Maritime and Port Authority of Singapore.  His influence over the shipping industry was felt around the world.”

Group Deputy President and Chief Financial Officer Cedric Foo added: “Mr. Lua did not seek the public spotlight, but his leadership, clear thinking and strategic approach to business issues set him apart.”