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Temasek puts $1.7B Neptune Orient up for sale: Report

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Singapore's sovereign wealth fund Temasek Holdings has been shopping container-shipping company Neptune Orient Lines (NOL) to prospective buyers, the Wall Street Journal has reported.

The WSJ reported that Temasek was in talks with one buyer in recent months but the two sides could not agree on a price for the loss-making company. The WSJ put NOL's market capitalization at 2.3 billion Singapore dollars ($1.7 billion).

Earlier this year NOL had merger talks with Germany's Hapag-Lloyd and Hong Kong's Orient Overseas but no deal was finalized, the WSJ reported. The report added that NOL was founded in 1968 as Singapore's national shipping line, and was 65 percent-owned by Temasek, with the remainder trading on the Singapore Stock Exchange.

A Temasek spokesperson told CNBC that the fund did not comment on "market speculation and rumours".

To read to full Wall Street Journal story click here.