Samoa Completes Sale Of Pacific Forum Line To Neptune

admin's picture

Company assumes 50% interest in regional shipping service

APIA, Samoa (Samoa Observer, May 20, 2014) –The Government of Samoa and Neptune, in Apia today signed the share purchase agreement for the sale of 50% interest in PFL.

Pacific Forum Line, in the tie up with Neptune can now service 15 Pacific island markets.

In recent changes Pacific Forum Line reintroduced the Forum Samoa 3 to the Apia market, and a direct link to/from Australia, and improved the link to/from New Zealand.

In addition, the number of vessel calls to Apia will increase from 36 to 48 p.a., which will benefit Samoa Ports Authority and the economy in terms of frequency of services, ultimately means direct benefits for importers and exporters of Samoa.

Neptune Managing Director, Rolf Rasmussen said, "we are very pleased we can form a partnership with GoS, and help deliver a sustainable and reliable shipping product for Samoa, and the other pacific island markets we serve."

The Hon. Prime Minister, Tuilaepa Fatialofa Lupesoliai Dr. Sailele Malielegaoi signed the agreement on behalf of GoS.

During his weekly radio press conference, Prime Minister spoke "of the reasons why PFL was originally formed in 1976 by the Forum countries, why GoS bought PFL in 2012, and he emphasized the importance of the PFL/Neptune JV to the future of Samoa in terms of trade, growth of the economy, development of tourism, training and employment of seafarers, frequency of shipping services; and a profi table PFL to ensure its long term survival."

Deputy Prime Minister, Hon. Fonotoe Nuafesili P. Lauofo said, "that GoS invested in PFL in September 2012 to secure sea transportation and shipping services for Samoa and the pacific island countries as you can see the JV will service 15 pacific countries.

The partnership with Neptune will further develop trade opportunities in the region and linking to global shipping networks.

The PFL/Neptune JV will also secure training and employment opportunities for Samoan seafarers.

There are about 500 Samoan seafarers currently under the management of Samoa Shipping Services.

Construction of a new Ocean Campus at Mulinuu started in March 2014 for the NUS - School of Maritime for training of Samoan seafarers.

These developments by GoS involving PFL/Neptune JV, Samoa Shipping Services and NUS - Ocean Campus will further support the new commercial wharf to be constructed at Vaiusu bay in the near future."

All other details of the JV will be officially announced at the launching next month.

The new JV is envisaged to start operation in the middle of year.

Rate this article: 
Average: 3.5 (6 votes)

Add new comment