Polynesian Shipping Line Changes Hands

The Board of Polynesian Shipping Line Limited has decided to sell the company to Neptune Pacific Line Limited.Polynesian Shipping Line Limited business has been sold as a going concern and will continue to
provide services in the Australian and New Zealand trades to Fiji, the Samoas and the Kingdom of Tonga as well as the interisland trade, the company announced. In addition, the existing global freight services to the Samoas and Tonga will continue and be developed further, according to the announcement.
 “Whilst the ownership of Polynesian Shipping Line Limited has changed, its business as usual with our customers and service providers. No change is envisaged to existing arrangements in the immediate future,”Polynesian Shipping Line said.

A key aspect of the sale is the signing of a contract of affreightment between Polynesian Shipping Line Limited shareholder interests and Neptune Pacific Line Limited. “This Agreement will see Polynesian Shipping Line limited shareholder interests continue to support the business for many years to come,” the company added.