Singapore-based regional container carrier Pacific International Lines (PIL) is to become a major shareholder in Mariana Express Lines, a compatriot feeder operator.
A PIL official told IHS Maritime that the company would buy a 55% stake in Mariana Express Lines, but would not comment further about the deal.
PIL concentrates on the intra-Asia, Asia-Australasia, Asia-Africa, and Asia-South America routes, having cut back on its Asia-Europe services in 2011.
Established in 1997, Mariana Express Lines specialises in shipments to Hawaii and the Pacific Islands.
PIL, a family business led by Teo Siong Seng, has other subsidiaries including Pacific Direct Lines and Advanced Container Lines which, run container services in the Southern Pacific Islands and feeder services in Southeast Asia and South Asia.
Source IHS
Topic: PIL takes major stake in Mariana Express Lines (Read 997 times)