PACIFIC International Line (PIL) has acquired a 55 per cent stake in Mariana Express Lines (MELL), which will continue to operate under its own brand.
The other shareholder is Hong Kong listed group Luen Thai that has a background in garment manufacturing and is involved in Guam and Micronesia, both MELL strongholds. It acquired a 45 per cent of MELL in 1999, two years after the carrier was set up in 1997.
MELL operates eight ships of 650 and 1,700 TEU with a combined capacity of 10,548 TEU. Seven of the ships are chartered.
The carrier's network covers Micronesia, Guam, Philippines, Borneo, Timor and Papua New Guinea.
The niche carrier offers connections between these markets and all of East Asia. It has also an Australian branch, catering in particular for shipments via Darwin, reports Alphaliner.
This network complements the Pacific Islands coverage of Pacific Direct Line (PDL), another PIL affiliate, giving the company the most comprehensive coverage of the western and southern Pacific islands.
On top of its Asian and Pacific regional services, PIL also offers connections to the Americas, Africa and Europe. It also operates Southeast Asia feeder services through its feeder arm Advance Container Line (ACL).
WORLD SHIPPING
26 March 2015 - 22:04
Pacific International Line buys 55pc of Mariana Express Lines
PACIFIC International Line (PIL) has acquired a 55 per cent stake in Mariana Express Lines (MELL), which will continue to operate under its own brand.
WORLD SHIPPING
26 March 2015 - 22:04
Pacific International Line buys 55pc of Mariana Express Lines
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Next time someone will be buying into Mariana Express Lines. Greed has no bounds.