Neptune Pacific Line (Neptune) has confimed the acquisition of Pacific Direct Line (PDL) from PDL’s parent company, Pacific International Lines (PIL), a deal first reported by Splash last week.
Neptune believes the acquisition will strengthen its Melanesian and Polynesian network, provider a link to Micronesia and the French territories, and enhance connectivity to global markets via strategic hubs in New Zealand and Fiji.
“This purchase supports our long-term vision of creating the strongest and best regional network of shipping and logistics services in the Pacific Islands,” said Rolf Rasmussen, managing director of Neptune.
“By acquiring PDL, we can further develop our mainline shipping network to provide fixed-day services and increase the utilization of our combined fleet, enabling us to continue to offer competitive freight rates. PDL’s extensive logistics network will allow us to support our customers across their entire supply chain needs,” Rasmussen added.
PDL currently operates throughout the South Pacific region and specialises in providing liner shipping services from New Zealand and Australia to the South Pacific Islands.
Following the acquisition, Neptune will have a specialised fleet of nine vessels dedicated to South Pacific Island trades.
SS Teo-led Pacific International Lines (PIL), the world’s tenth largest container carrier, is taking a series of measures to improve its ailing blance sheet. The liner is quitting the transpacific tradelane this month and has also been offloading assets including the recent sale of six mega boxships to Seaspan and Wan Hai Lines. Last year, PIL also sold its container manufacturing unit Singamas to Cosco for $565m as well as exiting the Asia-Europe trade lane.