Neptune Orient Lines - NOL
Shipping Company
Neptune Orient Lines Limited (NOL) is a global container shipping company with about 6,000 staff across over 80 countries. The group delivers quality services through its core business, APL.
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.
Subject ID: 36854
MoreNeptune Orient Lines Limited (NOL) is a global container shipping company with about 6,000 staff across over 80 countries. The group delivers quality services through its core business, APL.
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.
In 1997, NOL made a $285 million acquisition of APL. APL’s heritage dates back to 1848.
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.
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.
On 17 February 2015, APL Logistics was sold to Kintetsu World Express, Inc. for US$1.2 billion.
Subject ID: 36854
Subject ID: 36854
