"It should take place in the first half of this year. They need the money in the current difficult environment," one of those people said.
The container shipper, the world's eighth biggest in terms of capacity, has been suffering from falling freight rates and a dramatic slump in world trade because of the global economic crisis.
According to its 2008 balance sheet, NOL had US$429 million in cash as of end-2008 compared with total liabilities of US$2.94 billion, of which US$467 million comprised short-term loans.
"The first consideration was for a minimum US$250 million rights issue, but it could be much more," a second person said.
NOL posted a fourth quarter net loss of US$149 million, the first loss in six years, compared with a net profit of US$196 million a year earlier. It has also said it will be in the red for all of 2009.
NOL couldn''t be immediately reached for comment.
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