DynaLiners Daily - PIL looses six big ships
Following its decision to leave the Transpacific trade, PIL has disposed of six of its twelve 11,900 TEU ULCS. Two will go to Wan Hai, one of which it already had on charter, who will use them for its Transpacific operations. The other four were picked up by non-operating owner Seaspan.
The vessels were not owned by PIL but financed via Chinese leasing houses, so it will not change its debt, but relieve its leasing obligations. The latter are a strong burden for the financially-strained carrier, according to reports that PIL has approached Japanese owners stating that it currently has no money to pay them as, due to the corona virus, it has problems securing the required bank credits.