General Announcement::APL Fortifies Asia Market Leadership Through Trade Network Re-organisation

Issuer & Securities

Issuer/ Manager
NEPTUNE ORIENT LINES LIMITED
Securities
NOL S$280M 4.65%N200909 - SG7X44961531 - 4JWB
NOL S$300M 4.4%N210622 - SG6P73971303 - 4WQB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
30-May-2019 07:31:30
Status
New
Announcement Sub Title
APL Fortifies Asia Market Leadership Through Trade Network Re-organisation
Announcement Reference
SG190530OTHRKP6W
Submitted By (Co./ Ind. Name)
Teh Huit Ping
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
APL FORTIFIES ASIA MARKET LEADERSHIP THROUGH TRADE NETWORK RE-ORGANISATION

In line with the CMA CGM Group's strategy to capitalise on the strengths of its carrier brands in order to advance in service and operational excellence, the trade network of APL* will be re-organised.

From 1 October 2019:

1. CMA CGM will be the Group's sole carrier on:
- Trans-Atlantic (Europe - North America);
- Asia - Europe (Northern and Mediterranean);
- India & Middle East Gulf - Europe; and
- Asia - Caribbean.

Current APL allocations on the related services will be transferred to CMA CGM.

2. APL will own an exclusive presence on the Asia - India Subcontinent trade.

Current CMA CGM allocations on the related services will be transferred to APL.

APL will remain the sole Intra Asia short sea carrier of the group, operating over 50 services under the CNC brand from Singapore. This follows the transfer of book of business and the CNC brand of Cheng Lie Navigation Co., Ltd from Taiwan to APL since 1 January 2019.

APL will remain a leading Trans-Pacific carrier in its stronghold Asia-North America market. It also will maintain its diversified footprint across the Asia-Middle East, Asia-Latin America and Asia-Oceania trades.

* APL is the trading name of Neptune Orient Lines Limited



Date: 30 May 2019

Attachments

SGX_GA_05_30_2019.pdf
Total size =148K