Neptune Pacific Line (Neptune) has acquired Pacific Direct Line (PDL) from PDL’s parent holding company, Pacific International Lines (PIL). The combined business will link transport, warehousing, depots and customs clearance services and fully integrate customers’ supply chains across 18 South Pacific markets.
In January PIL launched a new Pacific pendulum service, by mid-February it had ended its involvement in the transpacific trades and sold a number of vessels as it struggled to maintain its business in a challenging market.
The acquisition of PDL will strengthen Neptune’s Melanesian and Polynesian network, provide a link to Micronesia and the French territories, and enhance connectivity to global markets via strategic hubs in New Zealand and Fiji.
“By acquiring PDL, we can further develop our mainline shipping network to provide fixed-day services and increase the utilisation of our combined fleet, enabling us to continue to offer competitive freight rates," said Rolf Rasmussen, Managing Director of Neptune.
PDL currently operates throughout the South Pacific region and specialises in providing liner shipping services from New Zealand and Australia to the South Pacific Islands. With the acquisition of PDL, Neptune will now have a fleet of nine vessels dedicated to South Pacific Island trades and a team of more than 800, most of whom are based in supply chain services in the region.
Teo Siong Seng, Executive Chairman and Managing Director of PIL said the company's approach is to optimise its resources. "The divestment of PDL is part of our strategic move that enables PIL to focus its resources on growing in the key liner markets that it operates in Asia, the Middle East, Africa and South America.”