Singapore carrier Pacific International Lines (PIL) has issued a strong statement denying reports that the company is suffering financial difficulties.
The company has made a series of sales including ships and a liner company in recent weeks as well as cutting services on the Pacific, while creditors were said to be concerned.
However, in its statement PIL said, “Recently, there have been rumours circulating on social media, making false claims about a potential bankruptcy of Pacific...
Neptune Pacific Line (Neptune) ha anunciado la adquisición de Pacific Direct Line (PDL), filial de Pacific International Lines (PIL). El negocio combinado de ambas navieras permitirá unir los servicios de transporte, almacenamiento, depósitos y despacho de aduanas e integrará plenamente las cadenas de suministro de los clientes en 18 mercados del Pacífico Sur.
Además, la operación reforzará la red de Melanesia y Polinesia de Neptune, proporcionará un enlace con Micronesia y los territorios...
Neptune Pacific Line (Neptune) announced it has acquired Pacific Direct Line (PDL) from PDL’s parent holding company, Pacific International Lines (PIL). The combined business will seamlessly link transport, warehousing, depots and customs clearance services and fully integrate customers’ supply chains across 18 South Pacific markets.
The acquisition of PDL will strengthen Neptune’s Melanesian and Polynesian network, provide a link to Micronesia and the French territories, and enhance...
https://www.marineinsight.com/shipping-news/neptune-pacific-line-acquires-pacific-direct-line/
Singapore’s Pacific International Lines (PIL), which is privately owned, has been off the radar since May when it emerged that sovereign wealth fund Temasek had helped it out providing some vital funding to get through to 2020, keeping default risk at bay.
Now though, market sources say that PIL is still navigating choppy financial waters and is close to divesting peripheral assets, although negotiations are private and any sale is not closed yet. …