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VIRUS OUTBREAK

PIL among boxship operators in rough seas as Covid-19 turns off cash flow

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PIL boss Teo Siong Seng at the berthing of a vessel in December 2017. The group reported a net loss of US$35m in the first half of 2019. As at last June 30, it owed US$1.89b in loans and notes payable.

Singapore

AS WORK stoppages from the Covid-19 pandemic deliver a body blow to global boxship operators, Singapore's Pacific International Lines (PIL) has been forced to fend off rumours about a potential bankruptcy.

"These rumours are totally false," PIL clarified in a statement on...

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