The potential acquisition of Neptune Orient Lines by CMA CGM would mark the biggest consolidation in container shipping based on the capacity of the targeted carrier, according to Alphaliner.
22 Nov 2015
CMA CGM moved a step closer to acquiring Neptune Orient Lines after entering into an exclusivity agreement with the Singapore carrier that could see a formal offer made in early December.
16 Nov 2015
There is little prospect of a bidding war for NOL between prospective suitors Maersk Line and CMA CGM as the risks involved in acquiring a loss-making line in a weak market will lean heavily on the sale price, Drewry believes.
10 Nov 2015
Difficulties in estimating Neptune Orient Lines’ valuation, its unprofitability and the steady loss of market share by its APL container division will make a proposed sale of the Singapore-listed company no easy task.
09 Nov 2015
Acquiring Neptune Orient Lines would enable either Maersk Line or CMA CGM to strengthen their trans-Pacific business and mitigate each’s weakness in the Asia-Europe trade lane, according to a shipping analyst.
06 Nov 2015
CMA CGM declined to comment on reports it is in advanced negotiations to acquire Neptune Orient Lines, the Singapore-listed owner of ocean carrier APL.
28 Oct 2015
APL has agreed to pay $9.8 million to the U.S. government to resolve allegations that the carrier misrepresented its ability to track containerized military shipments from Pakistan to Afghanistan.
30 Jul 2015
Low Asia-Europe spot rates have forced NOL Group to renegotiate contract rates with some shippers.
30 Jul 2015
LONDON – NOL Group swung to a net profit of $890 million in the second quarter from a $54 million loss a year ago, almost entirely due to the gain from the sale of APL Logistics to Japan’s Kintetsu World Express.
20 Jul 2015
A notice to the Singapore Exchange by Neptune Orient Lines stating that it had not decided to sell has hardly closed the door on the topic.
16 Jul 2015
Reports in the past twenty four hours that Hapag-Lloyd has hired investment banks to advise on an initial public offering and the Singapore government is selling its majority stake in Neptune Orient Lines have refuelled speculation of a merger between the two ocean carriers.
01 Apr 2015
Orient Overseas International Ltd.'s announcement that it will spend almost $1 billion on the purchase of six 20,000-TEU ships has put an end to speculation that the Hong Kong-listed line was interested in acquiring troubled APL from Neptune Orient Lines.