NOL’s final day on the Singapore Exchange

NOL’s final day on the Singapore Exchange

France’s CMA CGM has completed the $2.4bn takeover of Singaporean flagship Neptune Orient Lines (NOL). The last dissenting shareholders have been paid off and now NOL, and its containerline subsidiary APL, are part of the Marseille-headquarted giant boxline. Today will mark the final day for NOL as a listed entity on the Singapore Exchange – it will be delisted as of tomorrow morning.

As part of the NOL integration process, CMA CGM has reviewed the portfolio of brands deployed on its various lines and concluded that only two brands should be used on each trade. APL will now serve as the core brand alongside CMA CGM on the transpacific, transatlantic and Asia-Gulf lines.

ANL, another CMA CGM subsidiary, will be repositioned on the Asia-Oceania trade.

“Reorganisation of the APL and CMA CGM lines will be further improved when Ocean Alliance is implemented next April,” the French line noted in its latest quarterly briefing last week. Ocean Alliance is a new container grouping which also includes OOCL, Cosco and Evergreen.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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