New Container Ship Hull Design to Vastly Save Fuel
A collaboration between APL, Hyundai Heavy Industries and DNV will make APL's new ships more fuel-efficient. The new hull design will will make APL’s 10 new ultra large container ships some 20 per cent more fuel efficient per TEU compared with existing designs says DNV. The design has been optimized for an operating profile along the Far East to Europe trade route involving nine speed and draught combinations. The installed propulsive power could be reduced by about 16 per cent compared to the initial hullform optimized for one draft & speed condition.
Former NOL Group CEO Passes Away
“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. 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. 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…
NOL Expects It To Be A Profitable Year
Neptune Orient Lines Ltd. (NOL) expects a better second half and overall profit in the current year. NOL said the bottoming out of the Asian economic crisis had resulted in higher cargo volumes in most sectors. Freight rates out of Asia to Europe and North America had also increased since mid-year, it said in comments accompanying its result. NOL reported last Wednesday an interim net profit, the first time in two years, but results were disappointing as gains came mostly from non-recurring items. The national shipping giant reported a net profit of S$10.02 million for the six months ended June 30, 1999 against a net loss of S$240.76 million a year earlier.
Senior Appointments at NOL
Orient Lines Limited (NOL) announced two senior management appointments. Cedric Foo, currently NOL Group Deputy President, will assume the additional responsibilities of President Asia/Middle East for NOL Group. Foo rejoined NOL in May 2005 to head corporate planning, having previously served in the Company from 1985 to 2000, most latterly as Executive Vice President of Corporate Finance. He was Senior Vice President at Singapore Airlines from 2000 to 2002 and has been a Member of Singapore's Parliament since 2001. Mr Foo was Singapore's Minister of State in both the Ministry of Defence and Ministry of National Development from 2002 to 2005. Brian Lutt has been appointed President APL Logistics.
