NEPTUNE ORIENT LINES SELLS STAKE IN SHIPYARD
Singapore-based Neptune Orient Lines, the parent company of APL, has sold its 50-percent equity stake in the Singaporean shipyard Atlantis Shipyard Pte. Ltd. for S$11 million ($6 million).
Atlantis is a mid-sized shipyard specializing in the repair of small and medium-sized vessels, including afloat and anchorage repairs and the construction of mid-sized vessels.
Neptune Orient Lines said that the move was in line with its on-going strategy to “strengthen and focus on its core businesses of container transportation, logistics and oil transportation.”
Neptune Orient Lines also announced that it has acquired from SembCorp Marine Ltd. a 50-percent interest in Neptune Associated Lines Private Ltd., a shipowning and ship chartering company, for a nominal amount of S$1.00 (55 cents). Upon completion of the acquisition, Neptune Orient Lines will own 100 percent of the company.
NEPTUNE ORIENT LINES SELLS STAKE IN SHIPYARD
