ShippingWatch

Strained PIL reports large net loss for first half of the year

Singapore-based container line PIL, in the midst of a large-scale restructuring, has just published its interim report for the first half of 2020, which shows a big dip in revenue and a bottom line deficit.

Photo: Edgar Su/Reuters/Ritzau Scanpix

Struggling container line PIL reports a large deficits on its bottom line for the first half of its fiscal year, where the top line also went down significantly.

The combined net deficit for the six-month period came to SGD 119.9 million (USD 89.2 million) for the family-owned Singapore-based shipping line, which is currently negotiating a comprehensive restructuring of its finances.

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