Just announced through SGX , Both CEO and CFO were replaced today.
CMA CGM and PSA Singapore Terminals have announced the formation of a joint venture company CMA CGM-PSA Lion Terminal to operate and use four mega container berths at Pasir Panjang Terminal Phases 3 and 4 in Singapore.
The joint venture will start operations from the second half of 2016 and provide long-term terminal services to CMA CGM and its shipping line affiliates.
“CMA CGM is pleased to announce this important partnership with PSA. It is a significant step, demonstrating the ongoing importance of Singapore to our strategy, and delivering on our commitment to making Singapore the Asian hub for the Group,” said Rodolphe Saadé, vice chairman of CMA CGM Group.
http://splash247.com/cma-cgm-and-psa-con...%E2%80%A8/
CMA CGM S.A. has made a voluntary unconditional general offer to acquire all of the issued paid-up ordinary shares in the capital of NOL International Ltd
The consolidation has begun
Bye Bye NOL.
Significant Improvement in APL’s operations: first quarterly profit since 2011
For the first time since 2011, the APL shipping operations registered satisfactory quarterly results with a return to profitability: it achieved a gross operating income of 56 million USD, or a 4.4% core EBIT margin, thanks to the combined benefit of higher revenue per unit and cost control. Its net result was also a profit of 26 million USD.
CMA CGM Announces Strong First Quarter Performance Increase And Positive Outlook
http://www.hellenicshippingnews.com/cma-...e-outlook/
The NOL name is blotted out of existence.
The CMA CGM Group simplifies its trade network on the Transpacific trade
Reinforcing Singapore as Asia-Pacific regional hub The current CMA CGM regional office and Neptune Orient Lines Limited* will be redesigned as a major regional hub from October 1st: CMA CGM Asia Pacific Limited. This Singapore-based hub will drive CMA CGM’s development in the Asia-Pacific region and will focus on delivering end-to-end shipping and logistics solutions. ANL Container Line Pty. Limited will become a subsidiary of CMA CGM Asia Pacific Limited as part of this development.
https://links.sgx.com/FileOpen/CMA_CGM_T...eID=622830
In fact, after CMA CGM bought NOL in 2016, the branding was completely switched over to APL so you've stopped seeing mention of NOL from 2017.
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so CMACGM see values in APL, for the US shipping lines.. :O
