PIL earnings drop 22.5% to US$1 billion in 2025 amid lower freight rates

[SINGAPORE] Pacific International Lines (PIL) reported on Wednesday (Apr 29) a 22.5 per cent drop in net profit to about US$1 billion for 2025 amid lower freight rates.

Revenue was US$4.3 billion, 0.8 per cent lower year on year.

However, its principal business of container shipping posted a 1.2 per cent marginally higher revenue of US$3.8 billion. This was supported by a 17 per cent year-on-year increase in volumes to about 2.6 million 20-foot-equivalent units and a high vessel utilisation rate across key trade corridors.