CMA CGM reported a small decline in net profit for 2015, and says its planned acquisition of Neptune Orient Lines (NOL) is progressing in line with expectations.

CMA CGM acquisition target Neptune Orient Lines (NOL) plunged $77m into the red in the fourth quarter, losing $181m for 2015 as whole, excluding a one-time gain from the sale of APL Logistics.

A 13,900 teu APL boxship has been refloated after it was grounded on Bramble Bank in the port of Southampton on 13 February.

APL celebrated the New Year with a maiden US-flag call, four weeks later than originally planned.

The G6 Alliance will continue to operate as planned in 2016 despite planned acquisition of Neptune Orient Lines (NOL) by CMA CGM, which is expected to complete in the second half of this year.

French container line CMA CGM has confirmed its acquisition of Singapore’s Neptune Orient Lines (NOL) with a cash offer of SGD1.30 ($0.93) per NOL share, valuing the deal at $2.4bn.

The potential acquisition of Neptune Orient Lines (NOL) by CMA CGM would the largest ever consolidation in the container sector in terms capacity according to analyst Alphaliner.

Shares in Singapore-listed Neptune Orient Lines (NOL) jumped nearly 6% on Monday following news at the weekend that it was in exclusive takeover discussions with CMA CGM.

The takeover Neptune Orient Lines (NOL) by CMA CGM moved a major step closer at the weekend with the two companies entering into an exclusivity agreement.

Singapore’s Neptune Orient Lines (NOL) has confirmed that it is in “preliminary discussions” with France’s CMA CGM and Denmark’s AP Moller-Maersk with respect to a potential acquisition deal.