Neptune Orient Lines Limited (NOL) has announced that it has entered into an agreement to sell to CWT Limited, for a consideration of S$20 million, all of its shares in OCWS Logistics Pte Ltd (OCWS). OCWS operates in the Singapore market, providing container, trucking and warehousing services. Completion of the sale is expected to take place during February 2007.

NOL has also entered into an agreement to sell its stake in Trident Districentre Pte Ltd (TDPL) to CWT Limited for S$10.5 million. NOL has a 75% stake in TDPL, whose primary business activity is the provision of warehousing services in the Singapore market. Completion of the sale is expected to take place during February 2007. The disposals are part of NOL's strategy to focus on its core liner shipping and high value added logistics services and to divest non-core businesses.