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PIL takes majority stake in Mariana Express Lines

PIL takes majority stake in Mariana Express Lines
Pacific Internationals Lines (PIL) has taken a majority stake in niche container carrier Mariana Express Lines (MELL).

PIL has taken a 55% stake in Singapore-headquartered MELL according to Alphaliner. MELL is a niche container line serving the trade between East Asia and Australia and Micronesia and other Pacific Islands.

MELL has eight vessels of 650 – 1,700 teu with a total capacity of 10,548 teu. All but one of the vessels is chartered in.

“This network, oriented toward Pacific insular states, complements the Pacific Islands coverage of Pacific Direct Line (PDL), another PIL affiliate, giving the company the most comprehensive coverage of the Western and Southern Pacific islands,” Alphaliner said.

The other shareholder in MELL is Hong Kong-listed manufacturing company Luen Thai.

“Luen Thai is a Hong Kong listed group with a background in garment manufacturing. It is involved in particular in Guam and Micronesia, both MELL strongholds. Luen Thai's subsidiary CTSI is agent of MELL in Guam, Micronesia and the Philippines,” the report noted.

TAGS: Containers PIL