Race heats up for Jakarta terminal stake

A consortium headed by Neptune Orient Lines (NOL) is up against Hutchison Whampoa and a group of Indonesian investors to acquire a 49% stake in Koja Container Terminal in Jakarta. A report in The Business Times in Singapore cites unnamed sources as saying NOL subsidiary American President Line (APL), in partnership with Samudera Shipping Lines (SSL) and Temasek Holdings, the investment arm of the Singapore government, has offered $150 million for the stake.