Pacific International Lines (PIL), Singapore’s largest containerline, has promoted Lars Kastrup to the position of CEO.
Kastrup was brought onboard two years ago in a management reshuffle after PIL was bailed out following years of troubled financial difficulties. He has previously served as CEO of APL, and held many senior positions at CMA CGM. His career started with AP Moller-Maersk.
S S Teo, executive chairman of PIL, said Kastrup had kickstarted various commercial and operational initiatives in his first two years at the company, becoming instrumental in the restructuring, streamlining and optimisation of PIL’s trade network and vessel deployment.
Teo said that Kastrup would be a “sturdy shield” against possible volatilities arising from future industry cycles.
Kastrup commented, “We will push ahead to strengthen our connectivity, and deploy and renew our assets optimally and efficiently, all supported by further digitalisation.”
Also announced today was the retirement of another senior figure at PIL, Gan Chee Yen, a man who was key in the bailout of the containerline.
Alphaliner lists PIL as the 12th largest containerline in the world with a fleet made up of around 288,000 slots.