Despite sharply reduced earnings in 2023, Singapore’s Pacific International Lines (PIL) expects the Red Sea crisis to keep the once-struggling liner operator in the black for 2024.
PIL submitted its 2023 financial statements to the Accounting and Corporate Regulatory Authority of Singapore early in April 2024. The figures showed PIL’s net profit dived to US$307 million, from US$3 billion in 2022 and US$2.6 billion in 2021, as the freight market normalised after the Covid-19-fuelled boom.
In...
https://container-news.com/pil-predicts-red-sea-crisis-to-keep-it-in-black-for-2024/