News / PIL set to repay debts early, thanks to change in fortune for liner industry

Photo: PIL

Troubled liner operator Pacific International Lines (PIL) has announced to the Singapore Stock Exchange that it intends to clear its debts by 30 December.

According to PIL, it will be thanks to the upturn in the fortunes of the container shipping industry, along with various financial initiatives it has undertaken to restructure its debts.

It said: “In light of the company’s improved financial position and in appreciation of the support shown by its scheme creditors throughout the restructuring process, the company is ...