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Polynesian Shipping Line

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PSL chairman Charlie Westerlund said: “The time is now right for shareholders to withdraw from shipping, and we are pleased to be able to sell the business to a professional, like-minded and well-managed company in Neptune Pacific Line.”

The Auckland-based company operates four feederships between Australia, New Zealand, Fiji, Samoa and other islands.

It also owns 50% of Pacific Forum Line with the government of Samoa.

The line is a subsidiary of Petroleum Products Supplies of Samoa

NPL is part of US-owned Roll Global.