How did CMA turn NOL around?
It was founded in 1968 as Singapore’s national shipping line, but was later sold as a subsidiary to French shipping company CMA CGM in 2016. On 1 October 2020, NOL was restructured into a regional hub and was renamed to CMA CGM Asia Pacific Limited.
Is APL owned by CMA CGM?
American President Lines, LLC (APL) is a subsidiary of the CMA CGM Group, a world leader in shipping and logistics.
When did CMA CGM acquire APL?
CMA CGM acquired APL in 2016 but continued using APL’s name.
Is NOL profitable now?
French company makes NOL profitable – less than 1 year after acquiring it from S’pore – The Independent Singapore News.
Is CMA CGM a public company?
Separately, Jacques Saadé had created CMA in 1978 as an intra-Mediterranean liner service operator, based in Marseille. In 1996, CGM was privatized and sold to Compagnie Maritime d’Affrètement (CMA) to form CMA CGM.
Who bought APL?
Ocean carrier CMA CGM will acquire Neptune Orient Lines, the parent of APL, in an all cash deal worth about $2.4 billion, according to a joint statement from the companies.
Who owns APL shipping?
the CMA CGM Group
APL is part of the CMA CGM Group, a global leader in sea, land, air and logistics solutions, founded in 1978 by the late Jacques R. Saadé. CMA CGM Group is now led by Rodolphe Saadé. Its 566 vessels serve more than 420 ports worldwide.
Who bought APL shipping?
Neptune Orient Lines
Why did Temasek sell NOL?
Its chief executive Ng Yat Chung, who took his position in 2011 after leaving Temasek as senior managing director, told The Straits Times that NOL was unable to cut costs fast enough and without the kind of scale needed to compete on costs, selling the company was the best option.
How are NOLs created?
A net operating loss (NOL) is created when the allowable tax-deductible expenses of a company exceed its pre-tax income (earnings before taxes, or “EBT”). If the company becomes profitable later down the road, the NOLs can be “carried forward” to reduce the tax burden in upcoming profitable periods.
How many ships are owned by CMA CGM?
Key figures. With a presence in 160 countries through 400 offices, 750 warehouses, 130,000 employees and a wide fleet of 566 vessels, CMA CGM serves 420 of the world’s 521 commercial ports and operates 257 shipping lines.