Four honours for NOL at Asian Freight awards

Tuesday, 3 May 2011 00:00 - - {{hitsCtrl.values.hits}}

NOL Group won accolades for excellence in Shipping and Logistics and CEO Ron Widdows received the Lifetime Achievement Award at the 25th Asian Freight & Supply Chain Awards last week.

Both of NOL’s principal businesses were honoured in one of the longest-running tributes to Asia’s transportation sector. Container carrier APL was named Best Shipping Line in the Transpacific and Asia-Europe trades. APL Logistics won in the category of Best Logistics Service Provider – Sea Freight.

Widdows, a 40-year shipping industry veteran, received career recognition for his broad impact on global trade and transportation. In addition to heading up NOL, he is Chairman of the World Shipping Council and past Chairman of the Transpacific Stabilisation Agreement.

The Lifetime Achievement Award was the third major honour for Widdows in the past two years. In 2009 he was named Admiral of the Ocean Sea by the United Seamen’s Service. Last year he received the Connie Award from the Containerisation and Intermodal Institute.

Neptune Orient Lines (NOL) is a Singapore-based global container shipping and logistics company. Its container shipping arm, APL, provides world-class container shipping and terminal services and intermodal operations supported by leading-edge IT and e-commerce. Its logistics business, APL Logistics, provides international, end-to-end logistics services and solutions, employing the latest IT and data connectivity for maximum supply chain visibility and control.

NOL to get new CEO

Temasek’s Ng to take over on 1 January 2012
Widdows to retire end of 2011; to remain senior adviser
Widdows was involved in Hapag-Lloyd bid, oversaw recession

SINGAPORE (Reuters): Singapore’s Neptune Orient Lines, the world’s sixth biggest container shipping firm, said current CEO Ron Widdows will retire by the end of 2011 and will be replaced by a senior executive from state investor Temasek Holdings. Widdows, an industry veteran who pulled back from a potential acquisition of German rival Hapag-Lloyd in 2008 and then steered the company through the global financial crisis, will remain a senior adviser after he steps down this year.

Ng Yat Chung, a former chief of Singapore’s defence force, was be appointed as Executive Director from 1 May this year and will become President and CEO on 1 January 2012, NOL said in a statement.

Ng is the Head of Energy and Resources Portfolio of Temasek, which owns around two-third of NOL. He is also a Co-Head for Australia and New Zealand and a Co-Head for Strategy.

NOL said Ng will be working closely with Widdows before assuming full responsibilities as CEO next year.

“It’s pretty much part of their succession planning,” said Suvro Sarkar, an analyst with DBS Vickers in Singapore.

“Widdows did add some stability to the group... it shouldn’t really affect operations as of now.” NOL made a net profit of $ 461 million in 2010, rebounding from a loss of $ 741 million in 2009. Widdows told Reuters in February that NOL will order more vessels to address an expected shortage in the global freight market within a few years.