NOL secures financing for 78pc of 12 mega boxship orders

SINGAPORE's Neptune Orient Lines (NOL) says it has financing for 12 containerships with lenders offering of US$926 million, or 78 per cent of the $1.2 billion needed, NOL said in a filing to the Singapore Exchange.

The rest will come from an earlier bond issue and internal sources, reported Lloyd's List. NOL said financing "will be customary for ship acquisition financing".

Ten 10 ships will be in the 8,400-TEU range while two will be 10,700 TEU and delivered between 2012 and 2014 from Korea's Daewoo Shipbuilding and Marine Engineering.
(Source:www.schednet.com)