SINGAPORE - Singapore container shipping firm Neptune Orient Lines (NOL), which has reported losses for the past five quarters, said on Monday it plans to sell its Singapore headquarter building to raise funds.

"NOL has retained the commercial real estate firm Jones Lang LaSalle to market the property," the firm said in a stock market filing.

The sale of the 29-year-old, 26-storey building will"release capital for strategic investment", NOL added.

NOL has not decided on a reserve price for its headquarter building which is located along Alexandra Road to the west of Singapore's central business district.