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Evergreen Marine, Maersk win from Pacific International’s withdrawal

Corp - Shipping 813 Financing 110 Mode - Containerized 1273 Mode - Seaborne 1603 Programmatic 33 U.S. 4640

Pacific International Lines (PIL) has started discussions with lenders after withdrawing container shipping services on transpacific routes in March, leading to an 89.4% year over year slide in its volumes handled on Asia-U.S. routes in April. PIL’s withdrawal reduces competition on Asia-to-U.S. routes, boosting business for other container lines. Evergreen Marine may have been a big winner. Its U.S. handling for importers that used PIL’s services between 2016 and 2020, such as Fiji Water and Platinum Grover among others, surged 91.0% higher year over year in Q1. Other winners included M...

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