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Shipping line APL – which recently announced its takeover by CMA CGM – is to launch a new Felixstowe Express Service from main ports of China, complementing APL’s existing service to Southampton. Port rotation is: Qingdao, Yangshan, Ningbo, Xiamen, Yantian, Port Klang, Felixstowe, Rotterdam and Hamburg. The first sailing will depart Qingdao on 20 August.
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The European Commission has cleared CMA CGM’s acquisition of Neptune Oriental Lines, conditional upon NOL leaving the G6 liner shipping alliance. Commissioner Margrethe Vestager, in charge of competition policy, said it would ensure that the takeover will not lead to price increases for customers.
CMA CGM is a founding member of ...
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The G6 container shipping alliance said it expected its operations to continue as normal through 2016, despite the takeover of one of its members – APL/NOL – by CMA CGM, which belongs to the rival Ocean3 grouping.
In a statement it said: “The transaction is subject to regulatory approvals. Until there ...
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CMA CGM is to acquire Singapore-based rival container shipping operator Neptune Orient Lines (NOL) for S$1.30 a share, in a transaction that has been unanimously approved by the NOL Board. It will result in a company with a combined turnover of U$22 billion and a fleet size of 563 vessels ...
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French-based global liner company CMA CGM says it has entered into exclusive discussions with rival operator Neptune Orient Lines (NOL) and its controlling shareholder, Lentor Investments on a potential combination. The exclusivity period is expected to run until 7 December.
CMA CGM said that, “should these discussions lead to an agreement, ...
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Speculation is rising that Singapore state investment arm Temasek is considering selling container shipping line NOL-APL, in which it holds a majority stake. It follos the sale in May of the separate APL Logistics business to Kintetsu. There have also been suggestions that a merger between APL and OOCL is ...
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Neptune Orient Lines says it had completed the sale of its APL Logistics subsidiary to Japanese forwarder Kintetsu World Express, announced on 17 February. All necessary legal, regulatory and shareholder approvals have been obtained, it said.
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Japan-based forwarder Kintetsu World Express has agreed terms to buy APL Logistics from Singapore's Neptune Orient Lines, for US$1.2 billion, subject to shareholder and regulatory approval. The move would allow NOL to focus on its main liner shipping businesssaid president and CEO, Ng Yat Chung. At the same time strengthen ...
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NOL Group shipping line APL is to move from a geographically-organised structure to a functional one. New management functions will be Trade, Commercial, Operations, Procurement and Planning & Strategy. A new management team, led by APL president, Kenneth Glenn comprises Peter Jongepier, chief commercial officer; Calvin Leong, chief trade officer; ...
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