Cargo Business Newswire

Monday, July 20, 2015

Top Story

Singapore’s Temasek seeks buyer for Neptune Orient Lines

Temasek Holdings, Singapore’s state investment company, has put Neptune Orient Lines for sale, according to the Wall Street Journal, which cited sources familiar with the matter.

Heavily in debt, the $1.7 billion shipping line has been struggling. NOL, 65-percent-owned by Temasek, announced the sale of its logistics arm in February to Japanese freight carrier Kintetsu World Express for $1.2 billion. When NOL sold its logistics business, it renewed market speculation that the whole company may soon be for sale.

An NOL spokeswoman declined to comment, and Temasek Holdings was not immediately available

after office hours to comment.

For more of the Reuters story: www.reuters.com