• Mon
  • Sep 22, 2014
  • Updated: 2:59am

NOL seeks US rail buyer

PUBLISHED : Friday, 16 October, 1998, 12:00am
UPDATED : Friday, 16 October, 1998, 12:00am

Neptune Orient Lines (NOL) is seeking a buyer for the North American rail network that is part of its APL unit, industry sources say.


The Singapore shipping giant last week said it would sell non-core assets to help pay off debt but did not mention the rail network, which could sell for between US$300 million and $600 million.


NOL could decide to buy another shipping line with part of the proceeds, sources said.


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