PIL Group signs MOU with China Guangzhou Nansha Development Zone
PIL expects the MOU to increase trade cooperation and deepen business ties between the Singapore shipping company and the development zone.
Singapore shipping firm Pacific International Lines (PIL) Group has signed a memorandum of understanding (MOU) with China Guangzhou Nansha Development Zone in the hope of increasing trade cooperation, deepening business ties, and exploring possible future business opportunities and the development of a shipping/logistics base in the Nansha New Area.
The Nansha New Area, located 38 and 41 nautical miles respectively from Hong Kong and Macau, is one of three development zones that forms the China (Guangdong) Pilot Free-Trade ZoneNansha.
PIL has also announced the revamp of its China Transpacific trade lines that will commence as of April 3 2017. There will be two new weekly services branded as ACS and AC5, operating in a joint cooperation under a new vessel sharing agreement. The two new weekly services will each cover Central and South China to USWC in 42 round voyage days with 12 vessels of 6,500 to 10,000 TEUs.
PIL, which owns and operates a fleet of 155 vessels, comprising 136 container ships with capacity of 361,000 TEUs, and 19 bulk carriers / multi-purpose vessels totalling 1.3 million DWT, said this new enhancement “will ensure competitive coverage and transit time for our customers.”
PIL is ranked as the 14th largest container ship operators in the world, with a service coverage of the whole of Far East Region to Africa, Red Sea, Middle East, North and South America, Europe, Indian sub-continent and Oceania.