ShippingWatch

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.

Singapore-based PIL is the world's 12th largest container carrier today. | Photo: PR / Pacific International Lines

SINGAPORE

Usually, a company reappears from a restructuring with reduced weight, a bit skinnier or in some cases as a shadow of its former self.

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