Import-Export: Storm warning for Asian giants in Africa

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Singaporean PIL and Chinese Cosco are under pressure as the market shrinks due to falling oil prices and the Covid-19 crisis.

The name of Pacific International Lines (PIL) is well established in West African ports. But the exasperation of some of the Togolese customers of the same PIL, who had still not received, two months after the scheduled date, hundreds of containers of Chinese goods expected in Lomé, testifies to the Singaporean's difficulties.

PIL HAS ALREADY WITHDRAWN FROM THE ASIA-EUROPE LINE AND FROM THE TRANSPACIFIC MARKET

Created half a century ago and still controlled by the Chinese Teo family, the world's number ten container company is going badly.

3,8 billion dollars in debt

In debt for more than $ 3,8 billion, it has not been able to meet several bank maturities since the start of the year and is currently negotiating its buyout by the Singaporean state fund Temasek.

source: https: //www.jeuneafrique.com/mag/1019931/economie/transport-maritime-avis-de-tempete-pour-les-geants-asiciens-en-afrique/

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