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News ID: 68692 |
Publish Date: 11:25 - 05 September 2016

CMA CGM completes 100% acquisition of NOL

FRENCH shipping line CMA CGM announced on Monday that it will delist Neptune Orient Lines from the Singapore exchange on Tuesday September 6 this year.

CMA CGM completes 100% acquisition of NOLAccording to MANA, CMA CGM is set to delist Neptune Orient Lines (NOL) from the Singapore Exchange on Tuesday
The combined CMA CGM and NOL group will have a market share of 11.7%, and turnover of $21bn with a joint fleet of 540 ships that would have capacity of 2.4m teu. This compares with Maersk Line's fleet capacity of almost 3.2m teu and Mediterranean Shipping Co's 2.8m teu.

CMA CGM has shifted its Asian headquarters to Singapore from Hong Kong as part of the acquisition.
Tags: CMA CGM NOL
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