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Singapore-based container shipping line Pacific International Lines appointed Wan Chee Foong as deputy chief executive officer effective October 5, 2026 as part of a planned succession
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Wan will succeed Lars Kastrup as CEO in April 2027
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Kastrup will remain CEO during the transition and then serve as advisor to the board
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Wan has nearly 30 years’ experience in transportation, ports and logistics, including senior positions at PSA International and Temasek
Singapore-based container shipping line Pacific International Lines (PIL) has appointed Wan Chee Foong as deputy chief executive officer effective October 5, 2026 as part of a planned leadership succession that will see him take over as CEO in April 2027.
Wan will work alongside incumbent CEO Lars Kastrup and PIL’s senior leadership team during the six-month handover period before assuming the top post, the company announced.
Kastrup will remain as CEO through the transition and will subsequently serve as an adviser to the Board.
The appointment followed a board-led succession process that considered internal and external candidates globally.
During the transition, Wan will progressively assume responsibility for PIL’s commercial, operational and strategic priorities. The company said its senior leadership team reporting to the CEO will remain unchanged.
Wan brings nearly three decades of experience in transportation, ports and logistics, covering operations, investment and strategy.
At PSA International, he held senior operating positions, including regional CEO for the Middle East and South Asia and head of group business & commercial development. He also served as CEO of PSA BDP, PSA’s global supply chain solutions business, and was a member of PSA International’s senior management council from 2014 to 2025.
Wan also spent nine years at Temasek from 2003 to 2012 in transportation and logistics, including supporting the establishment of SeaTown Holdings. He joins PIL from Temasek, where he is managing director, corporate strategy. He began his career at Singapore Airlines.
He is also an independent director of Bahri, the National Shipping Company of Saudi Arabia, and serves on the board of the National Council of Social Service.
Kastrup joined PIL in July 2020 as senior advisor before becoming co-president and executive director in March 2021 and CEO in July 2022, following more than four decades in container shipping.
Financial, operational performance
During his tenure, PIL said Group EBITDA increased from US$558 million in fiscal year 2023 to $1.50 billion in 2025, while net profit after tax reached $1.04 billion on revenue of $4.27 billion in 2025. The company said 2026 is on track to exceed the previous year’s performance.
PIL also expanded fleet capacity by more than 50% to about 500,000 TEUs, replacing smaller vessels with larger and more efficient ships. Ten LNG dual-fuel vessels had been delivered by the first half of 2026, with another 18 LNG dual-fuel newbuilds on order and 14 long-term charter vessels due through 2029.
READ: PIL names newest LNG-powered vessel
The company has also expanded its wholly owned and controlled agency network, which now handles about 98% of its cargo volume.
“When I took on this role, I was entrusted with a company founded by the Teo family in 1967, carried forward by generations of colleagues, and backed today by shareholders committed to its next chapter. My objective was to build the resilience, discipline and capability to perform through industry cycles,” Kastrup said.
“Thanks to a supportive Board, our colleagues on shore and at sea, and our partners, PIL stands today with a renewed fleet, a largely owned agency network, a strong balance sheet and the trust of customers. With that foundation in place, this is the right time to hand over. Chee Foong brings the experience and judgement to take PIL into its next chapter, and the ships we ordered will arrive on his watch. I couldn’t be more confident in what comes next,” Kastrup added.
Andrew Lim, chairman of the nomination and remuneration committee and independent director, said Kastrup had guided PIL through an important period while strengthening its financial position, fleet, network and leadership team.
“Lars has guided PIL through an important period with steadiness, clarity and resolve. The company is stronger today — in its financial position, its fleet, its network and, importantly, in the quality of its leadership team and culture,” Lim said.
Wan said he would focus initially on ensuring a smooth leadership transition.
“I am honoured by the Board’s trust and excited to build on the strong platform Lars and the PIL team have established. My immediate focus is to ensure a smooth handover, while working with colleagues, customers and partners to deepen PIL’s network, strengthen customer trust and build its next chapter as Singapore’s premier global shipping company,” Wan said.
PIL, established in Singapore in 1967, is among the world’s top 12 container shipping lines and the largest home-grown carrier in Southeast Asia. It serves more than 500 locations in over 90 countries, operating a fleet of more than 100 container vessels.
