NOL reportedly up for sale
Singapore state investment company Temasek Holdings has put Neptune Orient Lines (NOL) up for sale, according to Wall Street Journal sources.
NOL is the owner of American President Line (APL), the 12th biggest container shipping line in the world with a capacity of 570,000 teu.
The US$1.7bn shipping company is 65% owned by Temasek and has been struggling with debts and losses. It is also the only major shipping company with no order book, adding weight to speculation that its long-term future is unclear.
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