Operations Update - 6th March, 2020

As part of our ongoing business strategy to improve operational efficiency, PIL is embarking on a service rationalisation which will focus our efforts on key markets in Asia, Middle East, Africa, South America and Oceania.

To better allocate our resources to areas in which we are growing, a leaner, more focused fleet profile is required. As such, we are delighted to announce the sale of six 12,000 TEU vessels, with four to Seaspan and two to Wan Hai Lines. We are happy with the prices obtained from the sales and going forward, we will continue with our plan for the remaining excess vessels.

With more resources available, we look forward to serving our customers better by providing high-quality service coverage in our key markets.