NOL Up for Sale Again?

Singapore-based container shipping company Neptune Orient Lines has been put up for sale by investment company Temasek Holdings Pte. Ltd, NOL’s majority stake owner, the Wall Street Journal reports citing sources familiar with the matter.

As informed, the indebted carrier has been in talks with an undisclosed buyer, however; there has been no concrete deal yet as the involved parties could not agree on the price of the sale.

The sale seems to be back on following talks with German carrier Hapag-Loyd on potential merger in 2008, followed by rumors on the merger between Hong Kong’s Orient Overseas (International) Ltd. and NOL that emerged in March this year.

The relaunching of the plan comes in the wake of NOL’s disposal of its profitable logistics business, APL Logistics Ltd (APLL) which is expected to further facilitate NOL’s sale.

APLL was sold in May to Kintetsu World Express, Inc for a total of USD 1.2 billion.

Temasek holds 65% stake in the company whereas the remaining 35% is traded on the Singapore Stock Exchange. The estimated worth of the container shipping company is USD 1.7 billion.

NOL, which operates through the APL brand, has 92 vessels in its fleet.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 1 2 3 4 5

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

CWC World Gas & Power Series – Brazil & the Americas Summit

CWC World Gas & Power Series: Brazil & the Americas Summit is the perfect meeting place to make contacts…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Nor-Shipping 2019

Nor-Shipping’s conference and event programme is tailored to deliver the knowledge, value and networking to help you build your business.

read more >