SGX-listed NOL logged a gain of $887m on the transaction, accounting for all but $3m of its quarterly net income.
While the deal provided the cream and most of the cake on its second quarter bottom line, NOL also recorded stronger operating figures.
Core operating profit of $29m for the three months to the end of June beat the $15m red figure in the same stretch of 2014.
Ng Yat Chung, chief executive of NOL, said: “The group’s container shipping business continued to face a challenging environment characterised by over-capacity and weak market demand.
“Nonetheless, APL reversed a core EBIT loss in the second quarter last year to a positive position this year.
“We remain focused on improving our cost competitiveness, yield optimsation and service reliability to return the liner business to sustained profitability.”
NOL says the $20m operating profit recorded by container division APL marked the sixth consecutive year-on-year improvement.
The division was aided by the return of five ships on expensive charters, the company said in a statement.
