The Californian-based Neptune Pacific Line has agreed to buy a 50 per cent controlling interest in the Pacific Forum Line from the Samoan government.
Choppy seas for Pacific shipping
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1 Feb 2013 by Leave a Comment
Tough market conditions have led to a sudden shake-up in South Pacific shipping, with Auckland-based Reef Shipping going bankrupt and being acquired by Hawaii-based Matson. Meanwhile, the loss-making (and ship-less) Pacific Forum Line— established in 1976 by the governments of 12 Pacific Island nations—has become wholly-owned by the Government of Samoa.
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