Neptune Orient Lines
 |
 | |
| Company type | Public |
|---|---|
| SGX: N03 | |
| Industry | Transport |
| Founded | December 1968 |
| Founder | Captain Muhammad Jalaluddin Sayeed |
| Headquarters | The Metropolis,9 North Buona Vista Drive, , |
Area served | Worldwide |
Key people | [1] |
| Services | Shipping services |
| Revenue |  S$ 8,831.193 million (2013)[2] |
 S$ 583.939 million (2013)[2] | |
| S$ -71.968 million (2013)[2] | |
| Total assets | S$ 9,029.035 million (2013)[2] |
| Total equity | S$ 2,130.811 million (2013)[2] |
| Subsidiaries | APL |
| Website | nol |
Neptune Orient Lines Limited (NOL) is a Singapore-based global container shipping company with about 6,000 staff across over 80 countries.
History
In December 1968, Neptune Orient Lines was started as Singapore’s national shipping line. Wholly owned by the Singapore Government, it was formed in an effort to develop and support Singapore's economy.[3]
Containerization
In the 1970s containerisation was introduced. In the mid-1970s, NOL's managing director was Goh Chok Tong, who went on to become Singapore’s second Prime Minister.[4]
In 1975, NOL then entered the Asia-Europe trade as part of the ACE consortium with partners OOCL, K Line, COSCO and Franco-Belgian Services, known as the “third force” in the container-shipping world.[5] Meanwhile, it entered the key Trans-Pacific Trade with a standalone service.
Merger with APL
In 1997, NOL made a $285 million acquisition of APL. APL’s heritage dates back to 1848.[5]
Following the merger, APL name was adopted as the public brand name. The NOL name was retained for the holding company, which was listed on the Singapore stock exchange and was well-known to its investors. The company focused on managing global supply chains in 2001 when APL Logistics was established as a separate business unit.
In 1998, the Asian economic crisis hit hard, NOL saw losses mount to US$460 million, while its debt was more the US$4 billion. The company sold off assets to clear the debt and by 1999 was profitable again.[5]
In 2003, NOL completed the divestment of its tankering businesses AET and NAS, to concentrate on the company’s core container shipping and logistics services.[4]
On 17 February 2015, APL Logistics was sold to Kintetsu World Express, Inc. for US$1.2 billion.[6]
References
- ^ "NOL to see leadership change". Channel News Asia. Retrieved 5 October 2011.
- ^ a b c d e "Unaudited Financial Information For the Year Ended 27 December 2013" (PDF). Neptune Orient Lines Limited. 27 February 2014. Retrieved 27 March 2014.
- ^ "Neptune Orient Lines Limited History". Funding Universe. Retrieved 2012-08-03.
- ^ a b "Neptune Orient Lines". SingaporeInfopedia. Retrieved 2012-08-03.
- ^ a b c https://www.fool.sg/2013/11/11/5-things-you-should-know-about-neptune-orient-lines/
- ^ http://www.joc.com/international-logistics/nol-sells-apl-logistics-kintetsu-12-billion_20150217.html
External links
