NOL: OPERATIONS UNAFFECTED BY WAR

NOL: OPERATIONS UNAFFECTED BY WAR    Neptune Orient Lines, the Singapore-based shipping group that owns APL Liner and American Eagle Tankers, said that its global operations are unaffected by the military action in Afghanistan and the military buildup in the Middle East region.
   In a statement issued to the Singapore stock exchange, NOL said that it regards it as unlikely that APL’s 11 vessels involved in the U.S. government’s Voluntary Intermodal Sealift Agreement and Maritime Security Program will be called upon.
   “Carriers were not called upon under similar arrangements during the Gulf War in 1991, and we do not anticipate it happening now,” a spokesman for NOL said. “A number of major carriers, including NOL, have commercial contracts to carry U.S. government cargo, including humanitarian aid. This has not changed,” the company added.
   NOL said that it has “detailed contingency plans” in place to address any disruption to its networks globally and the company’s number one priority is to ensure the safety and security of employees and the safety and security of its ships and of customers’ cargo.
   NOL has enhanced security globally in the wake of the events of Sept. 11.
   “War risk surcharges have been imposed on us and other carriers by underwriters and these are being on-passed to customers,” NOL said.
   NOL said that it continues to monitor events globally on a daily basis and manage its business taking into account security and other issues.
   “It is too early to say what impact recent events may have on our earnings for the full year,” NOL said.