Tags PIL
Tag: PIL
PIL’s losses double in first half of 2020
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Pacific International Lines (PIL) remains in the red, with a net loss that nearly doubled to US$120 million for the first half of 2020. Releasing...
Mounting debt could see PIL liquidation
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Pacific International Lines (PIL) faces liquidation as a mounting debt burden, dwarfing the value of its assets, drags the company further into the mire. Management...
PIL sells more ships as debt restructuring progresses
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Pacific International Lines has sold three more elderly container ships, as the beleaguered Singaporean liner operator continues to reprofile its debt and rationalise its...
Weak container demand sees Singamas diversify
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Pacific International Lines' (PIL) container manufacturing subsidiary, Singamas, is diversifying its business as the Covid-19 pandemic has caused demand for containers to plunge. Singamas’ first...
Wan Hai goes solo on Pacific trades
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Wan Hai Lines is now offering a solo Far East-US West Coast service after Pacific International Lines (PIL) withdrew from the Transpacific trade. The China...
PIL says expenditure must be controlled
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Pacific International Lines (PIL), the embattled Singaporean liner operator, said that market conditions remain challenging and expenditure must continue to be controlled. In a filing...
Temasek unit to make interim investment in PIL
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A unit of the Singapore government’s investment company Temasek Holdings has agreed to make an initial investment in beleaguered liner operator Pacific International Lines...
Crew kidnapped off the coast of Benin
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Five crew members including the Captain have been kidnapped from a Pacific International Lines (PIL) vessel 150 miles southwest of Cotonou Benin. The attack occurred...
Shippers are right, services are getting worse says Sea-Intelligence
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Last week the European Shippers Council (ESC)’s Jordi Espin complained that shippers were paying more for a worse service, this week Sea-Intelligence has shown...
Temasek bailout still under discussion as PIL offloads more ships
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Struggling Singaporean liner operator Pacific International Lines (PIL) has said that by the end of September 2020, it expects to complete bailout discussions with...
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MSC vessel is the latest to foil W. Africa pirate attack
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MSC Elsa 3 became the latest vessel in a spate of attacks in the West Africa region. The ship was approached by a fast-moving...
Russian container market responds effectively to pandemic
The Russian container market has remained broadly flat in 2020, despite the global and local impact of the Covid-19 crisis, according to Global Ports...
Maersk Essen diverts to Mexican terminal
Maersk Line has confirmed that the stricken vessel, the 13,100TEU Maersk Essen, which lost around 750 containers in a Pacific storm on 16 January,...
HMM adds capacity to North Europe trade
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South Korean liner operator HMM will launch an extra loader service from Busan to North Europe and is considering a similar move for its...
