NOL urged to sell terminals and liner business separately

Singapore

NEPTUNE Orient Lines (NOL) should carve out and sell its terminals in the US and Asia to a third party, say PSA International, instead of selling its business as "one whole package", said a former key executive of the company.

This would enable its controlling shareholder, Temasek Holdings, to fetch top dollar or a "premium" in its planned sale of NOL, said shipping veteran and former NOL deputy chief executive Lim How Teck.

Over a week ago, Singapore-listed NOL said that its largest shareholder, a wholly-owned unit of Temasek, has begun exclusive talks with the world's third-largest container shipping company, Fr…