Massive Retrenchment Expected in NOL as CMA CGM will move office to Hong Kong

[Hans168]

Can you say Golden Parachute?

umbrella with diamond dusts IF grade..............

 

[Hans168]

hahaha....it is obvious that you have nothing between your 2 ears and just want to continue to make a fool of yourself......
with idiots stroking your ego...u have your air head in the air...
u are obviously clueless and out of depth with regards to the shipping industry....
for many years, the container shipping market has suffered from over-capacity and high costs...
as a result most (2/3) of the major container lines are losing money.....
now everything is about economy of scale and container vessels are getting bigger and bigger and competition is relentless and you really need very deep pockets in this business..
of course explaining this to someone who never sailed onboard a ship before is akin to singing to a dumb cow......lol.

if Maersk can stay afloat why not NOL??? Diff is mgmt....... former run by pros while NOL managed by rookies after rookies till the fat arse who is clueless how to turn it around.....A good mgr can turn shit into gold!! Look at HC!!!

 

[zeebjii]

hahaha....it is obvious that you have nothing between your 2 ears and just want to continue to make a fool of yourself......
with idiots stroking your ego...u have your air head in the air...
u are obviously clueless and out of depth with regards to the shipping industry....
for many years, the container shipping market has suffered from over-capacity and high costs...
as a result most (2/3) of the major container lines are losing money.....
now everything is about economy of scale and container vessels are getting bigger and bigger and competition is relentless and you really need very deep pockets in this business..
of course explaining this to someone who never sailed onboard a ship before is akin to singing to a dumb cow......lol.

LOL 2/3 are losing money? Really? Even if so, why can't a well-run shipping company be part of the 1/3 who is making money?

Take this sinkie shipping company for example of a well-run one .

https://www.pilship.com/en-our-business/138.html

 

[Papsmearer]

as a result most (2/3) of the major container lines are losing money.....
.

Well Kukushit, for once I agree with you. So, if 2/3 shipping lines are losing money, then 1/3 is doing ok. Why can't NOL be one of the 1/3? Airline business is also very competitive, and many airlines are losing money. But some how SIA is making money. If a Singapore run company can make money in a very competitive business, NOL should be able to do so too. But with these types of shit ex scholars parachuted in to run NOL, their odds when from decent to zero when it comes to being profitable. A fucking retard like you does not understand that no matter how large NOL can grow, it will still lose money with shit for brains ex SAF scholar generals running it. Got it?

 

[no_faith]

Cma also acquired delmas shipping.
I wonder where are the funds coming to buy debt ridden carrier?

 

[OrLanChowHorFun]

Dear brothers and sisters,

this is a massive blow to singapore shipping industry according to NOL staffs.

CMA CGM will move its transhipment hub to Malaysia, Port Kelang.

CMA CGM will also consolidate its regional office in Hong Kong.
NOL office will be relocated to Hong Kong and majority of its staffs will be terminated.
Only a handful of existing APL expats will go to CMA CGM regional office in Hong Kong.

http://www.cmacgmhk.hk/eng/index.asp

more to come

woohoo....................velly velly gooooood ah.....................this news made my day liao..................

imagine the faces of those NOL staff that voted for PAP......................priceless.................

 

[gingerlyn]

woohoo....................velly velly gooooood ah.....................this news made my day liao..................

imagine the faces of those NOL staff that voted for PAP......................priceless.................

CMA CGM Asia regional office in Hong Kong
http://www.cma-cgm-blog.com/hong-kong-regional-office-the-antenna-of-cma-cgm-in-asia/

https://hk.linkedin.com/in/mandy-lau-1239841b

 

[Leckmichamarsch]

Well Kukushit, for once I agree with you. So, if 2/3 shipping lines are losing money, then 1/3 is doing ok. Why can't NOL be one of the 1/3? Airline business is also very competitive, and many airlines are losing money. But some how SIA is making money. If a Singapore run company can make money in a very competitive business, NOL should be able to do so too. But with these types of shit ex scholars parachuted in to run NOL, their odds when from decent to zero when it comes to being profitable. A fucking retard like you does not understand that no matter how large NOL can grow, it will still lose money with shit for brains ex SAF scholar generals running it. Got it?

after GCT ... Jacob we got super brilliant guys like David Lim, ex minister, Cedric White Horse Foo, another ex minister, and last but not least an ex general who din even fight any battle but knows how to spend billions in SAF........... how come these brilliant minds cannot save the company or keep it afloat???

 

[Leckmichamarsch]

Cma also acquired delmas shipping.
I wonder where are the funds coming to buy debt ridden carrier?

Like Modi............ just issue Rupee Bonds plus con sg into building super cities with promissory notes not worth any inidan cow dung

 

[Papsmearer]

after GCT ... Jacob we got super brilliant guys like David Lim, ex minister, Cedric White Horse Foo, another ex minister, and last but not least an ex general who din even fight any battle but knows how to spend billions in SAF........... how come these brilliant minds cannot save the company or keep it afloat???

Could it be because their brilliance is actually fake one, like so many Indian Uni degrees. In a domestic market, your supposed brilliance can bullshit and con the 70% stupid sinkies. When you have to compete against the world like NOL, what passes as brilliance in domestic GLC is actually stupidity.

 

[kukubird59]

Well Kukushit, for once I agree with you. So, if 2/3 shipping lines are losing money, then 1/3 is doing ok. Why can't NOL be one of the 1/3? Airline business is also very competitive, and many airlines are losing money. But some how SIA is making money. If a Singapore run company can make money in a very competitive business, NOL should be able to do so too. But with these types of shit ex scholars parachuted in to run NOL, their odds when from decent to zero when it comes to being profitable. A fucking retard like you does not understand that no matter how large NOL can grow, it will still lose money with shit for brains ex SAF scholar generals running it. Got it?

hahaha...double confirmed an empty vessel....
every industry is different but the fundamental point is the same....you cannot buck the trend.....
in shipping industry, the trend is towards consolidation and size will be a key factor to stay afloat and ahead....
if you buck the trend, you will end up like Sony/Nokia and many other well known names.....

NOL will at best be a mediocre player given the nature of the industry, even if she can find her niche....
this is just like the Lions, the idiot thought that by engaging Bakenbauer as head coach, Singapore would have made it to the World Cup years ago.....
truly retarded....

 

[Papsmearer]

Now that NOL is facing massive lay offs, I just want to ask who did 70% of the employees vote for? An oppo party or even an Oppo coalition might have frozen the sale of NOL or even prevented it. Well done.

 

[gingerlyn]

I am very sad because i started this thread to share info on NOL retrenchment.
however, the discussion turns to PAP bashing :*:

 

[harimau]

Well done singaporean Military Juntas generals!

You have destroyed Singapore economy real bad!

I guess that is what you are trained for in your entire life.

Everyone of you should get a promotion for achieving your objectives!

 

[Onitsuka]

The N.K. looking Scholar-General will have earned another badge on this chest -

The NOL Terminator​

 

[Papsmearer]

The N.K. looking Scholar-General will have earned another badge on this chest -

The NOL Terminator​

Yes, one campaign ribbon for the NOL battle, which he lost.

 

[Cerebral]

That is the most illogical promotion,
a Chief of Air Force who is not a fighter pilot by vocation.

Why does the Chief of Airforce have to be a pilot? A pilot that can fly a plane may not understand the big picture

 

[Cerebral]

It makes no sense for CMA CGM to buy NOL. sinc it is money losing, they will probably bid s$1, a token sum. otherwise they will walk out and PAP will have to continue subsidising the company for hundreds of million annually with no end in sight to the problem.

CMA may want the ships for their expansion. CMA has been building aggressively for the past few years. NOL lost money because Generals cant run it. Cut all the management away and you have a profitable business

 

[Cerebral]

Cma also acquired delmas shipping.
I wonder where are the funds coming to buy debt ridden carrier?

I think couple of years back, the owner found a very very rich backer to take them out of Government control. They got stuck with cashflow issue couple of years back and the French Govt had to bail them out. Heard that there were a lot of friction with the Govt proxy and the owners found a very rich backer. Cant remember the name though

 

[Cerebral]

Could it be because their brilliance is actually fake one, like so many Indian Uni degrees. In a domestic market, your supposed brilliance can bullshit and con the 70% stupid sinkies. When you have to compete against the world like NOL, what passes as brilliance in domestic GLC is actually stupidity.

Pri school to sec school, multiple tuitions. Get good O results, go JC. More intensive tuition and get good As. Go Army, sponsored to go study in Ivy League. Come back army, become General. Hit 45, parachute to CEO of a multinational...... do you see anything wrong with this picture....