Pacific International Lines has sold another two ships as the troubled Singaporean liner operator works on bolstering its balance sheet.
South Korean feeder operator Taiyoung Shipping has purchased PIL’s feeder vessel, the 2004-built 756TEU Kota Tabah, renaming the vessel TY Incheon. While the sale price was undisclosed, VesselsValue assessed the ship to have a market value of US$2.45 million.
The other ship sold was the 2003-built 2,607TEU Kota Gunawan, to Middle Eastern interests for US$4.6...