PIL takes interest in Pacific Direct Line

PIL takes interest in Pacific Direct Line    Singapore’s Pacific International Lines has acquired a “significant interest” in family owned South Pacific ocean carrier Pacific Direct Line. Exact details of the deal were not disclosed.
   “PDL management and stakeholders see the obvious advantages of cooperating with PIL, not only for the global competitiveness they now have access to, but also the synergies found in working with another well respected, family owned shipping company,” Auckland, New Zealand-based Pacific Direct Line said.
   The remaining shares will be retained by the previous owners, who will maintain day to day running of the company’s Australia and New Zealand to South Pacific islands trades.