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CMA CGM may sell assets to turn NOL business around, retain most jobs: Saade

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CMA CGM will prioritise on improving cost efficiency of Neptune Orient Lines (NOL) in order to turn the business of the Singapore shipping firm around.

[SINGAPORE] CMA CGM will prioritise on improving cost efficiency of Neptune Orient Lines (NOL) in order to turn the business of the Singapore shipping firm around.

This may entail selling some US$1 billion worth of assets such as vessels and containers, but CMA CGM will look to retain as many as of the NOL team as possible, vice president of the French group Rodolphe Saade told the Straits Times.

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