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Container upswing gives PIL's creditors unexpectedly large gains

Financially strained container line PIL has the extreme market to thank for the company's ability to repay its billion-dollar debt from a restructuring earlier this year after only a few months. With generous gains, even.

Photo: PR / Hapag-Lloyd

The booming container market has secured an unforeseen gain for financially strained container line PIL, enabling the carrier to shake off its debt earlier than expected.

Singapore-based PIL states as much in a press release, saying the company will repay all debt tied to an agreement on the restructuring that it carried out early this year.

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