American Shipper

NOL obtains loan for new ships

NOL obtains loan for new ships

   Neptune Orient Lines, parent company of APL, said last week it has received firm offers from a group of lenders to finance about $926 million of the $1.2 billion needed to build 12 new containerships that were ordered this summer.

   The remainder of the cost of the ships will be funded from a bond issue announced in August and internal resources.

   The 12 10,700-TEU vessels will be built by South Korea’s Daewoo Shipbuilding & Marine Engineering Co., and are to be delivered from 2012 through 2014.