On 9 June 2016, it was announced that Temasek will tender its NOL shares to CMA. Ng, as the then-CEO of NOL, said that "without the scale necessary to compete on costs, the best choice was to sell." and "compared with our competitors, we also didn't have the scale" as the primary reason for the sale of Singapore's shipping icon. As a result, Maersk Line and CMA CGM were reported to be interested to acquire NOL and eventually, CMA CGM emerged as the buyer.