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PIL abandons Pacific market

PIL abandons Pacific market

Pacific International Lines (PIL) has announced it will be withdrawing from the Transpacific market as part of efforts to make its network more efficient.

In a statement, PIL said it will focus on its North-South route and strengthening its position in regions such as Africa, the Middle East/Red Sea, India Sub-Continent, Latin America and Oceania.

As a consequence of this realignment, PIL’s final Transpacific sailing will be in March 2020.

The Transpacific market, more commonly known as the Asia-North America route, is the busiest in the world, with approximately 26.5 million TEU passing along it annually.

By contrast, the North Europe/Mediterranean-East Coast South America, carries 1.6 million TEU a year and the North America-East Coast Latin America 1.2 million TEU.

In May 2019, Port Technology International (PTI) reported that COSCO, the third biggest container shipping line in the world, was considering a bid for PIL.

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