To be exact, he aims to use computer systems to make NOL a logistics player, providing large multinationals with full transport services and management to move goods and raw materials all over the world. But first, mop up the red ink. But we can pay this down with our profits over the next few years. A turnaround has begun. NOL hired seasoned managers let go by merging shipping companies, like Maersk and SeaLand, which combined into one last year.
Many new hires are top names in information technology and logistics management.
NOL also wanted to better integrate its two disparate halves - a Singapore state enterprise and a private U.S. shipping line. NOL itself has ordered eight ships to arrive over the next two years, and will be chartering more vessels with options to buy. Since a major global recession is unlikely, he expects strong growth. But it's in the New Economy and new businesses where he hopes to carve out NOL's future. Transport companies all over are focusing on logistics, using sophisticated software and efficient management.