NOL finalizes financing for 14 ships

NOL finalizes financing for 14 ships    Neptune Orient Lines said Thursday in a statement filed with the Singapore Stock Exchange that it has finalized a $1.1 billion loan agreement to finance 14 containerships.
   The funds will be used to finance:
   ' Ten 8,400-TEU ships ordered in 2010.
   ' Two 10,700-TEU ships in 2010.
   ' Two 10,000-TEU ships ordered in 2007 (The company had previously completed financing for six other 10,000 ships it had ordered in 2007).
   NOL said it did not expect to draw on any of the loans in 2011.