Neptune Orient Lines sells stake in Singaporean ship agent
Neptune Orient Lines said it has agreed to sell its 72.5-percent stake in OMPL, a Singapore-incorporated company engaged in ship husbandry.
NOL and CIAS Enterprises Pte Ltd., the other shareholder in OPML, will sell the company for S$3.9 million ($2.3 million) to STH Logistics Pte Ltd.
NOL said the sale was part of its strategy to concentrate on its core capabilities in global transportation and logistics.