G6 Alliance ‘unaffected’ by NOL buy-out in 2016

G6 Alliance ‘unaffected’ by NOL buy-out in 2016

CMA CGM’s acquisition of Neptune Orient Lines (NOL) will not affect its subsidiary APL’s membership of the G6 Alliance during 2016, NOL said today.

APL is a member of the G6 Alliance alongside container lines Hapag-Lloyd, Hyundai Merchant Marine, Mitsui OSK Lines, Nippon Yusen Kaisha and Orient Overseas Container Line.

“Until there is further development, the G6 Alliance assures that its current service structure will remain stable, and expects to operate as aligned through 2016,” NOL said in a statement.

CMA CGM has agreed to acquire Singapore-based NOL for around $2.4bn from majority shareholders Temasek and its affiliates, subject to regulatory approvals.

Rodolphe Saadé, vice-chairman of CMA CGM, said previously that his company would push to shift APL out of the G6 Alliance and into CMA CGM’s Ocean3 Alliance with UASC and China Shipping.

Saadé added CMA CGM would shift its container traffic from other regional transshipment hubs to Singapore. CMA CGM currently uses Malaysia’s Port Klang, operated by Westports, as its main hub in southeast Asia.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

Related Posts