News / Successful debt restructuring saves PIL from becoming 'the next Hanjin'

Photo: PIL

The booming liner sector and a surge in the value of Pacific International Lines’ 73 containerships appears to have been a major factor in the success of yesterday’s debt restructuring plan.

According to vesselsvalue.com, the 73 vessels are now worth $1.4bn – the value of its 21 post-panamax ships alone increased by around $100m last month.

One source with an insight into the restructuring negotiations of the carrier told The Loadstar the strong recovery in the container market in the second half of ...