NOL puts up own building for sale

[Cestbon]

Maersk never looked back. I think now Maersk even though not making great strides, is not in as dire straits.

So NOL shares can keep cos Temasick will never give it up cos GDP will surely plunge if that happens. Imagine those cranes at Keppel, Pasir Panjang and Jurong turn silent.

Then comes the knock-on effects on logistics industries, the prime movers, the trailers, the warehouses, the people, serving all these will be jobless. They might just have to look for a job in Tanjung Pelepas!

How ironic will that be?

Prime mover will survive. After ship to PTP they will use Malaysia trailer cheaper to hire Malaysia and can pump Malaysia diesel.

Now can see nearly 30% crane stand still or up position.

 

[wikiphile]

Re: NOL sells building, layoff 400 staff

Why NOL buy APL???
APL full of debt.
Just want to expand faster meaning collapse faster.
MISC grow slowly and stable.
Very soon all big container shipping company will move to Tanjung Pelepas in Johore.

Back then they just wanted a quick way to buy into the Asia-US route as trade between china and US was growing. However the company suffered from an ageing fleet and at the height of the shipping boom, it was almost impossible to get a new building within 2-3 years due to strong bookings. To expand their fleet and muscle into the Asia-Europe market they tried to buy Hapag-Lloyd but of course we knew how that went. PIL was smarter, they diversified into logistics business instead of simply shipping, but then the terminal/logistics business was already chopped by PSA International, hence they had no choice but to concentrate on the shipping business. However unlike PIL or Maersk, very few innovations came about and they simply just try to go along with the flow

 

[no_faith]

Re: NOL sells building, layoff 400 staff

PIL was smarter, they diversified into logistics business instead of simply shipping,

yup these carriers too...
NYK. NYK Logistics Asia Pte Ltd.
OOCL. OOCL Logistics Singapore Pte Ltd.
MOL. MOL Logistics Singapore Pte Ltd.
Maersk. Maersk Logistics Singapore Pte Ltd and her sister co. MCC Transport.

 

[Cestbon]

No way prison can be outsourced in Singapore as there are currently no legislation to tax the users nor taxpayers for it.

Because the ones winning the bid for running the prisons will be they themselves. How to profit when you take from your own pocket?

Charge per head to gov. Eg. $2k/head/month.
Ang Moh country do so they outsource to private.

 

[wikiphile]

Re: NOL sells building, layoff 400 staff

yup these carriers too...
NYK. NYK Logistics Asia Pte Ltd.
OOCL. OOCL Logistics Singapore Pte Ltd.
MOL. MOL Logistics Singapore Pte Ltd.
Maersk. Maersk Logistics Singapore Pte Ltd and her sister co. MCC Transport.

Out of these companies, if ind the japanese being trailblazers to innovate and invest in many small companies to compete for the different sectors of shipping - Agency, dry bulk, tanker, freight forwarding, terminals since it is not likely that the entire spectrum of shipping will be affected as a whole. The only thing they have not been touching i would think is Offshore Marine at the moment?

 

[no_faith]

Re: NOL sells building, layoff 400 staff

Out of these companies, if ind the japanese being trailblazers to innovate and invest in many small companies to compete for the different sectors of shipping - Agency, dry bulk, tanker, freight forwarding, terminals since it is not likely that the entire spectrum of shipping will be affected as a whole. The only thing they have not been touching i would think is Offshore Marine at the moment?

from what i know NYK is doing dry bulk and tanker.
OOCL is doing Offshore but not in Singapore. In Singapore they are also doing co-loading.
MOL and Maersk not sure tho.

Offshore, i think many logistics companies have already reserved their places.

 

[Cerebral]

Re: NOL sells building, layoff 400 staff

The Journal of Commerce, 2 Jul 2012

NOL plans to sell its Singapore headquarters building as part of an ongoing cost-reduction and restructuring program that is producing wide-spread layoffs globally.

NOL has retained the commercial real estate firm Jones Lang LaSalle to market the property. The 26-story tower is located near the foot of Alexandra Road in Singapore.

APL, NOL’s liner-shipping subsidiary, is in the middle of a global effort to reduce costs by as much as $500 million in the coming year. After NOL announced a first-quarter loss of $254 million, APL, the world’s seventh-largest container line by vessel capacity, started laying off as many as 400 employees at offices around the world.

I heard that in the past, before NOL bought APL, APL was a very profitable company. I also heard that in NOL, very political place with multiple layers and a lot in the not doing much work, just play politics. So strange they are laying off APL staff and keep the useless NOL people

 

[no_faith]

Re: NOL sells building, layoff 400 staff

So strange they are laying off APL staff and keep the useless NOL people

imho, NOL staff machiam like civil servants. u dont retrench civil servants.
Since NOL become their mother company, definitely, APL staff need to go.

 

[Cerebral]

Re: NOL sells building, layoff 400 staff

Why NOL buy APL???
APL full of debt.
Just want to expand faster meaning collapse faster.
MISC grow slowly and stable.
Very soon all big container shipping company will move to Tanjung Pelepas in Johore.

Dun think APL was full of debt when NOL bought them. I think NOL has to fully leverage itself to buy APL because Emeritus wants it. So after buying, APL became full of debts

 

[johnny333]

Maersk never looked back. I think now Maersk even though not making great strides, is not in as dire straits.

So NOL shares can keep cos Temasick will never give it up cos GDP will surely plunge if that happens. Imagine those cranes at Keppel, Pasir Panjang and Jurong turn silent.

Then comes the knock-on effects on logistics industries, the prime movers, the trailers, the warehouses, the people, serving all these will be jobless. They might just have to look for a job in Tanjung Pelepas!

How ironic will that be?

I remember reading about how PSA wanted to relocate the port & it's facilities somewhere else & using the current site for condo development. Are they still going to do this

 

[wikiphile]

Re: NOL sells building, layoff 400 staff

from what i know NYK is doing dry bulk and tanker.
OOCL is doing Offshore but not in Singapore. In Singapore they are also doing co-loading.
MOL and Maersk not sure tho.

Offshore, i think many logistics companies have already reserved their places.

Maersk has a tanker division consisting of a pool of MRs - Handytankers and they absorbed brostrom's fleet into theirs

MOL has numerous investment and shares in many product/tanker companies - Asahi, Phoenix, TokyoMarine to name a few

OOCL has a tanker division too but based in HK

NYK/K Line have their own agencies too while Maersk has a shipbrokering division

 

[wikiphile]

Re: NOL sells building, layoff 400 staff

I heard that in the past, before NOL bought APL, APL was a very profitable company. I also heard that in NOL, very political place with multiple layers and a lot in the not doing much work, just play politics. So strange they are laying off APL staff and keep the useless NOL people

Yes, ex-civil servants, NOL would be the last shipping company i want to join, might as well go back to SAF if i want to join NOL, less stress and more bonuses

 

[no_faith]

Re: NOL sells building, layoff 400 staff

Maersk has a tanker division consisting of a pool of MRs - Handytankers and they absorbed brostrom's fleet into theirs

MOL has numerous investment and shares in many product/tanker companies - Asahi, Phoenix, TokyoMarine to name a few

OOCL has a tanker division too but based in HK

NYK/K Line have their own agencies too while Maersk has a shipbrokering division

at the boom time, they didnt really care and go into Offshore. Then it was taken up by most logistics companies.
now, offshore hardly they can enter.

offshore supply will also be hit by tanjung pelepas but Sinkapore turnover time is faster than Tanjong Pelepas.
Tanjong Pelepas sometime congested with containers and cause delay.
It is still msia we are talking about, time efficiency and turnover not as good as sinkapore. Cost is high true but delay also causing them to lose.
pros and cons.

 

[wikiphile]

Re: NOL sells building, layoff 400 staff

at the boom time, they didnt really care and go into Offshore. Then it was taken up by most logistics companies.
now, offshore hardly they can enter.

offshore supply will also be hit by tanjung pelepas but Sinkapore turnover time is faster than Tanjong Pelepas.
Tanjong Pelepas sometime congested with containers and cause delay.
It is still msia we are talking about, time efficiency and turnover not as good as sinkapore. Cost is high true but delay also causing them to lose.
pros and cons.

No kidding, they can build all they want but its Malaysia we're talking about. ETAs and berthing schedules always cocked up, Malaysia Boleh

Is Swire now the biggest offshore kid on the block?

 

[Loofydralb]

Charge per head to gov. Eg. $2k/head/month.
Ang Moh country do so they outsource to private.

Aiyoh....must I spell it out for you?

Look, for this scam to work, money has to flow from citizens pockets to some crony pocket.

It does not work if they just took it out from the pool of taxes they're collecting. Because in this scenario there will be less tax money to be divided.

Simply put for privatisation of prison, additional tax has to be collected for someone to make money. Otherwise somebody else will end up with less. Kapisch?

 

[jw5]

Re: NOL sells building, layoff 400 staff

Yes, ex-civil servants, NOL would be the last shipping company i want to join, might as well go back to SAF if i want to join NOL, less stress and more bonuses

CEO is former CDF, CFO is former MOS and current MP...........................

 

[wikiphile]

Re: NOL sells building, layoff 400 staff

CEO is former CDF, CFO is former MOS and current MP...........................

none of these fuckers are shipping men or ex crew, it will surprise me if they know what a ship actually does.

 

[wikiphile]

Re: NOL sells building, layoff 400 staff

double post, deleted

 

[Unrepented]

Yes :o Ops moving to terminals in da west, last I heard.

I remember reading about how PSA wanted to relocate the port & it's facilities somewhere else & using the current site for condo development. Are they still going to do this

 

[wikiphile]

Yes :o Ops moving to terminals in da west, last I heard.

Pasir Panjang side, even the dry shipping also move to the reclaimed land side i heard too