A very simple and logical strategy, but it appears that the "scholar" Ministers and scholars may not have seen this important correlation and scenario.
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NOL run into the ground by PAP scholar Generals, now being sold to French. WTF
- Thread starter Papsmearer
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A very simple and logical strategy, but it appears that the "scholar" Ministers and scholars may not have seen this important correlation and scenario.
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Not only NOL. They have sold Natsteel (the actual steel mill) and a power station or two. Reservoirs next??
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better off sold
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Shipping industry must be very low for now.
I am aware that they sold one or two power stations.
Very sad.
In Ontario, Canada, many of us are concerned that the Ontario government decided to "sell" or list shares (IPO) to sell part or a significant part of Ontario Hydro.
Thats the reason when APL was sold to NOL, it came with caveat that APL under NOL is to continue carrying US munitions to conflict zones. Wonder our million dollar ministars and their little fat puppets understand this.
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PAP have not the foresight to ask the new buyers to do the same for Singapore. If PAP/NOL ask Maersk to carry ammo for them to singapore in the event of war in singapore, Maersk will tell them to fuck off. And the PAP will say OK. Even worse, so much of singapores army is in overseas bases. Tanks in India, and Australia. Planes in Australia and US and France. The planes may be flown back to singapore, but the ground support equipment has to be shipped. How to bring them back if Singapore is a war zone? Which shipping company will risk their ships? You need NOL to bring them back. Just like SIA was used to fly the (supposedly secret) Starlight troops to ROC, NOL also has to be tasked with the same job.
In the future, if the Kra Canal ever gets build, and shipping lines start to bypass Singapore, its even more important for us to have our own shipping Line like NOL to continue to transship through singapore. You cannot wither away on the vine if you have a major shipper like NOL still using your port. All that will be out of hands when NOL is sold.
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NatSteel sold to Tata for over $400 million ten years ago. Today, the land alone on which NatSteel and its other business owned at that time must be worth double that. EDB had a 20% share of NatSteel at that time, which they had transferred to Temasek. All money from the sale go to Temasek Coffers. Then loss by Whore Jinx in the 2008/2009 meltdown.
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Latest from Bloomberg. Offer on table now?
http://www.bloomberg.com/news/artic...ffers-2-4-billion-to-take-over-neptune-orient
CMA CGM Offers $2.4 Billion to Take Over Neptune Orient
December 7, 2015 — 1:19 PM SGT
Updated on December 7, 2015 — 2:46 PM SGT
CMA CGM SA offered to buy Singapore’s Neptune Orient Lines Ltd. for S$3.38 billion ($2.4 billion), creating a container shipping line with stronger Asian and U.S. routes that narrows the gap with market leader A.P. Moeller-Maersk A/S.
The French company, the No. 3 container shipping company by capacity, will pay S$1.30 a share, 6.1 percent more than Neptune Orient’s closing price Friday, the two companies said in a statement Monday. Shareholders have approved the takeover, including Singapore state investment company Temasek Holdings Pte, which owns about 67 percent of Neptune Orient.
The transaction will create a combined company with full-year revenue of $22 billion and increased trade lines to compete against Maersk Line, the container-shipping division of A.P. Moeller-Maersk, and Mediterranean Shipping Co. Neptune Orient, which has posted losses in five of the past six years, is among shipping companies exploring mergers and acquisitions amid a glut of capacity, declining demand and lower rates that could make this the industry’s worst year since 2009.
“This is a very good price. Anything more than that would have been hard to get,” Rahul Kapoor, a Singapore-based director at Drewry Maritime Services Pvt, said in an e-mail. “CMA CGM is taking a calculated risk” buying at the bottom of the cycle, but the move is “ultimately good for the industry,” he said.
Big Deal
The deal is the largest for the container shipping industry since Maersk bought Royal P&O Nedlloyd NV for the equivalent of $2.96 billion in 2005. Germany’s Hapag-Lloyd AG merged last year with Chile’s Cia. Sud Americana de Vapores SA, and the Chinese government is said to be preparing a plan to combine China Cosco Holdings Co. and China Shipping Container Lines Co. or merge some of their operations.
Neptune Orient and CMA CGM said they expect to gain regulatory approval for the deal by the middle of next year. Once it’s concluded, the French company plans to sell at least $1 billion worth of assets. CMA CGM will pay a $100 million fee if the transaction is terminated.
Marseilles-based CMA CGM currently has 8.8 percent of the global shipping market. The combined company will operate 563 vessels and have about 11.5 percent of the global shipping market, according to the statement.
By way of comparison, Maersk Line has a 14.7 percent market share, according to shipping-data provider Alphaliner. Maersk Line posted revenue of $27.35 billion in 2014, the company said on its website.
Key Markets
The combined company will strengthen its position on shipping routes in key markets such as the U.S. and within Asia, the statement said. Neptune Orient’s APL unit, which operates container ships, has a strong presence on intra-Asia and trans-Pacific trades, while CMA CGM has a leading position in Asia-Europe routes, the companies said.
Founded in 1978, CMA CGM has about 469 vessels working more than 200 shipping lanes, and will set up its regional head office in Singapore, according to Monday’s statement. The French company’s net income in the third quarter fell 75 percent to $51 million, according to its website.
Neptune Orient shares were halted from trading Monday. CMA CGM said it doesn’t plan to keep the Singapore company’s listing.
By selling Neptune Orient, Temasek is cutting its losses to focus on investments in consumer, financial services and life sciences and agriculture. Almost half of Temasek’s portfolio additions in the 12 months ended March 31 were in developing Asia, followed by North America and Europe, according to its annual report.
Sustained Losses
Neptune Orient posted its worst loss in six quarters for the July-to-September period, as efforts to raise rates failed during what’s usually the peak period ahead of year-end holidays. In May, the Singapore-based company sold its APL Logistics arm to Kintetsu World Express Inc. for $1.2 billion to raise cash.
Neptune Orient operated 89 vessels as of Sept. 18, according to its website. It has five container terminals in the U.S., Japan and Taiwan and has stakes in terminals in Vietnam, China and Thailand.
Global shipping companies had average operating margins of negative 1.8 percent in the third quarter, compared with a 3.4 percent profit margin a year earlier, according to Alphaliner. The combined volume of containers carried by the main liners shrank 1.5% during the third quarter, in what’s turning into the weakest year for the industry since 2009, Alphaliner said in its Dec. 1 newsletter.
Carriers’ operating margins are forecast to worsen further in the fourth quarter, with the majority expected to turn in negative results, according to Alphaliner.
The spot rate to haul a 20-foot standard container to Europe from Asia fell 50 percent to $275 for the week ended Dec. 4 as efforts by shipping companies to raise the levy failed, according to the Shanghai Shipping Exchange. The levy for a 40-foot box to the U.S. West Coast dropped 4.8 percent to $891.
http://www.bloomberg.com/news/artic...ffers-2-4-billion-to-take-over-neptune-orient
CMA CGM Offers $2.4 Billion to Take Over Neptune Orient
December 7, 2015 — 1:19 PM SGT
Updated on December 7, 2015 — 2:46 PM SGT
- Temasek selling its stake as local shipper runs up losses
- Deal will help French line compete with its larger rivals
CMA CGM SA offered to buy Singapore’s Neptune Orient Lines Ltd. for S$3.38 billion ($2.4 billion), creating a container shipping line with stronger Asian and U.S. routes that narrows the gap with market leader A.P. Moeller-Maersk A/S.
The French company, the No. 3 container shipping company by capacity, will pay S$1.30 a share, 6.1 percent more than Neptune Orient’s closing price Friday, the two companies said in a statement Monday. Shareholders have approved the takeover, including Singapore state investment company Temasek Holdings Pte, which owns about 67 percent of Neptune Orient.
The transaction will create a combined company with full-year revenue of $22 billion and increased trade lines to compete against Maersk Line, the container-shipping division of A.P. Moeller-Maersk, and Mediterranean Shipping Co. Neptune Orient, which has posted losses in five of the past six years, is among shipping companies exploring mergers and acquisitions amid a glut of capacity, declining demand and lower rates that could make this the industry’s worst year since 2009.
“This is a very good price. Anything more than that would have been hard to get,” Rahul Kapoor, a Singapore-based director at Drewry Maritime Services Pvt, said in an e-mail. “CMA CGM is taking a calculated risk” buying at the bottom of the cycle, but the move is “ultimately good for the industry,” he said.
Big Deal
The deal is the largest for the container shipping industry since Maersk bought Royal P&O Nedlloyd NV for the equivalent of $2.96 billion in 2005. Germany’s Hapag-Lloyd AG merged last year with Chile’s Cia. Sud Americana de Vapores SA, and the Chinese government is said to be preparing a plan to combine China Cosco Holdings Co. and China Shipping Container Lines Co. or merge some of their operations.
Neptune Orient and CMA CGM said they expect to gain regulatory approval for the deal by the middle of next year. Once it’s concluded, the French company plans to sell at least $1 billion worth of assets. CMA CGM will pay a $100 million fee if the transaction is terminated.
Marseilles-based CMA CGM currently has 8.8 percent of the global shipping market. The combined company will operate 563 vessels and have about 11.5 percent of the global shipping market, according to the statement.
By way of comparison, Maersk Line has a 14.7 percent market share, according to shipping-data provider Alphaliner. Maersk Line posted revenue of $27.35 billion in 2014, the company said on its website.
Key Markets
The combined company will strengthen its position on shipping routes in key markets such as the U.S. and within Asia, the statement said. Neptune Orient’s APL unit, which operates container ships, has a strong presence on intra-Asia and trans-Pacific trades, while CMA CGM has a leading position in Asia-Europe routes, the companies said.
Founded in 1978, CMA CGM has about 469 vessels working more than 200 shipping lanes, and will set up its regional head office in Singapore, according to Monday’s statement. The French company’s net income in the third quarter fell 75 percent to $51 million, according to its website.
Neptune Orient shares were halted from trading Monday. CMA CGM said it doesn’t plan to keep the Singapore company’s listing.
By selling Neptune Orient, Temasek is cutting its losses to focus on investments in consumer, financial services and life sciences and agriculture. Almost half of Temasek’s portfolio additions in the 12 months ended March 31 were in developing Asia, followed by North America and Europe, according to its annual report.
Sustained Losses
Neptune Orient posted its worst loss in six quarters for the July-to-September period, as efforts to raise rates failed during what’s usually the peak period ahead of year-end holidays. In May, the Singapore-based company sold its APL Logistics arm to Kintetsu World Express Inc. for $1.2 billion to raise cash.
Neptune Orient operated 89 vessels as of Sept. 18, according to its website. It has five container terminals in the U.S., Japan and Taiwan and has stakes in terminals in Vietnam, China and Thailand.
Global shipping companies had average operating margins of negative 1.8 percent in the third quarter, compared with a 3.4 percent profit margin a year earlier, according to Alphaliner. The combined volume of containers carried by the main liners shrank 1.5% during the third quarter, in what’s turning into the weakest year for the industry since 2009, Alphaliner said in its Dec. 1 newsletter.
Carriers’ operating margins are forecast to worsen further in the fourth quarter, with the majority expected to turn in negative results, according to Alphaliner.
The spot rate to haul a 20-foot standard container to Europe from Asia fell 50 percent to $275 for the week ended Dec. 4 as efforts by shipping companies to raise the levy failed, according to the Shanghai Shipping Exchange. The levy for a 40-foot box to the U.S. West Coast dropped 4.8 percent to $891.
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SO, CGM CMA want to pay $2.4 Billion USD to buy NOL. Then after they buy NOL, they will immediately sell $1 billion worth of assets to help pay for the purchase. I am going to guess the assets will not be from the French company, but rather from NOL. So, in the end, they end up paying only $1.4 billion? That works out to only 76 cents per share, instead of $1.30. They fucking French are buying it cheap cheap. Why can't Whore Jinx be this smart and do business like that?
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I saw that fat chief on TV explaining why NOL needed to be sold.. He basically said NOL was too small to be a sustainable business. The biggest load of crap i have heard for a long time!
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If Ho Jinx is smart, every sinkee would be worth a million. God knows how much of our money Ho Jinx has lost. In a true meritocracy, she would have been fired years ago. It pays to be a member of the familee.
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China is tanking ...Temasick is going to lose more money. Will it cut more losses on its investments in China?
http://www.businessinsider.com/hsbc-lowers-china-economic-forecast-2015-12
You forgot to add that they will trim all the fats in NOL bloated management. Old captains will be let off. Scholars will be kicked out. Mid tier managers will be impacted the most
I personally don't think Temasek will divest out of China. Investment in China is more political than economical. If Temasek pull out, they will face significant wrath from the Chinese Govt.
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Come and guess which family jewel will be sold next.....
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HAHAHAHAH, sustainable businesses are never too small or big, it comes down to proper planning and management or in NOL's case bad planning and mismanagement. Oh motherfucking gods, to think this fat cheebye was CDF at one time
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What do you think of this article, published last year? I doubt anyone in NOL read it.
http://www.mckinsey.com/insights/corporate_finance/the_hidden_opportunity_in_container_shipping
http://www.mckinsey.com/insights/corporate_finance/the_hidden_opportunity_in_container_shipping
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The chinese govt couldn't care less. They have already suckered Temasek into investing there. Want to pull out, go ahead. Just leave all your money behind in the form of losses.
