NOL’s new container terminals unit

Pro forma accounts have shown that if the terminals unit had been operating as a separate business, with charges at arm’s length, it would have delivered revenue of S$609m and EBITDA of US$113m in 2007.

The team appointed to manage the new business comes from NOL’s existing management pool. The new President of APL Terminals, Steve Schollaert, has been with the NOL Group for 18 years. Mr Schollaert reports to the NOL Group CEO as part of the company’s Group Executive Team.

Announcing the establishment of the new unit, NOL group president & CEO Dr Thomas Held said: “Our terminal assets are a valuable part of our portfolio. They are a critical component in our ability to deliver reliable, time-definite services. We recognise there is potential to expand our network by securing new concessions in geographies where customer demand is greatest and congestion is an issue.”