‘National carrier’ PIL straps itself in for the long-haul

Singapore-based Pacific International Lines (PIL) emerged last year as the subject of strong rumours that it was about to be sold to Cosco.

Industry analysts pointed out that it was the only option for a medium-size company in the face of increased competition from liner giants formed by the numerous mergers including CMA CGM’s takeover of Neptune Orient Lines and Cosco’s buyout of Orient Overseas Container Line (OOCL).