PIL was about to sell 15 ships when a turnaround changed the entire rescue plan
PIL was preparing to sell 10-15 vessels in order to bring in liquidity when the container market took a u-turn, completely changing the premises. Today, the carrier has increased the number of employees. ShippingWatch tells the story of a very unusual restructuring.
Thursday’s board election at tanker operator Euronav may determine the fate of the large-scale merger with Frontline. The newly elected board will have to reconfirm the merger, states Euronav CEO to ShippingWatch.
Shanghai, which has been shut down for weeks and caused chaos in logistics chains, is heading for a gradual return to normal. But it could take significantly longer before container traffic sees stability return, says shipping analyst.
The technology available for carriers currently fits freight ships better than ferries, according to DFDS. The carrier thus expects to launch ’green’ freight vessels first and will soon choose which fuel to bank on, says top exec.