Singapore-listed container shipper Neptune Orient Lines (NOL) has turned down reports that it was placing another bid for a stake in German shipping firm called Hapag-Lloyd.

NOL clarified its stance after German newspaper Die Welt reported on Saturday that Hapag-Lloyd’s parent firm TUI, a tourism & travel operator, had recommenced discussions with the Singaporean container shipper to sell its container ocean carrier business.

Denying reports of another bid, the Singaporean container shipper said, “NOL wishes to state that currently, it is not making another bid for a stake in Hapag-Lloyd.”

However, NOL added that it evaluates its investment opportunities now and then and would make any necessary announcement when appropriate.

NOL had placed a bid for a stake in Hapag-Lloyd in 2008, but the talks collapsed as the two sides could not agree on a price. The stake was finally acquired by Albert Ballin, a Hamburg-based investment group.

TUI also declined the report, describing it as just a “market speculation”. However, it admitted that it had plans to sell its 38.4-per-cent stake in Hapag-Lloyd.

Shares in NOL shed nearly half of its value in the January-August period this year, mainly due to a global downturn in container shipping.

NOL shares resumed at 1:30 pm on Monday, with a gain of around one per cent from previous week's close.