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Tag: PIL

PIL’s losses double in first half of 2020

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

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

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

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

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

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

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

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

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

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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Maersk Essen diverts to Mexican terminal

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HMM adds capacity to North Europe trade

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