CMA CGM have appointed Nicholas Sartini as the new ceo of Neptune Orient Lines (NOL) as its puts in new management team in place at the Singapore shipping line.

Singapore’s state investment firm Temasek Holdings and its affiliates have tendered all their shares in Neptune Orient Lines (NOL) to satisfy an all-cash voluntary general offer made by France’s CMA CGM.

France’s CMA CGM has launched an all-cash voluntary conditional general offer to acquire all outstanding shares of Neptune Orient Lines (NOL), on top of those it already owns or has agreed to acquire.

CMA CGM has booked four boxship newbuildings at Cosco (Zhoushan) Shipyard.

CMA CGM will be the first shipping line to call Tuxpan Port Terminal (TPT), on the Atlantic coast of Mexico, with the Victory Bridge service connecting Tuxpan with the US and Europe.

CMA CGM sank $100m into the red in the first quarter of 2016 as rates came under “strong pressure”.

CMA CGM now owns 10% of takeover target Neptune Orient Lines (NOL) as open share buys continue on a near daily basis.

CMA CGM acquisition target Neptune Orient Lines (NOL) remained in the red in the first quarter.

DP World chairman Sultan Ahmed bin Sulayem has met with the President of France, Francois Hollande, at a Paris investment summit.

CMA CGM now owns over 5% of takeover target Neptune Orient Lines (NOL).