Asia/Pacific News
NOL Welcomes Its Most Environmentally-Friendly Vessel
Singapore's Neptune Orient Lines (NOL) on Monday welcomed what was described as its most environmentally-friendly vessel to its fleet in a ceremony in Singapore, Asia Shipping Media reports.
NOL's latest vessel, the 14,000 twenty-foot equivalent unit (TEU) containership APL Temasek, is not only the firm's largest, but the largest to be registered in Singapore.
"Today, we celebrate a landmark in NOL’s history," said NOL Group chairman Kwa Chong Seng.
"We are modernising our fleet, improving our cost structure, and investing in the future. To compete successfully in today’s marketplace, we must ensure that we have the most competitive product with the latest technology, design and sustainability features."
APL Temasek is the first in a series of ten 14,000-TEU vessels on order by the shipping and logistics group.
The vessel's name was said to have been inspired by the old name of Singapore, meaning "Sea Town," and the subsequent vessels will also be named after icons of the island state.
NOL recently posted its results for 2012, a 12 percent improvement on the $478 million loss it made in 2011.
