Wang Qi Feng has recently been appointed as the new CEO of Pacific International Lines (PIL). This move is part of a succession process previously announced by the board of directors. Wang, who has extensive experience in transportation and logistics, is set to succeed Lars Kastrup in April 2027.
Wang Qi Feng's Experience and Background
Wang Qi Feng was appointed as Deputy CEO on October 5, 2023, and will work alongside Lars Kastrup for six months before Kastrup transitions to a board advisory role. Wang has nearly 30 years of experience in the transportation and logistics sector and previously served as Regional CEO for the Middle East and South Asia at PSA International. He has also held various positions, including Business Development and Supply Chain Development roles at PSA BDP. Wang has spent 9 years at Singapore's sovereign wealth fund, Temasek, where he recently served as Corporate Strategy CEO.
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Changes at PIL and Future Plans
Kastrup, the former CEO, commented on the current status of PIL: "The company now has a modern fleet, a largely self-owned network, and a strong balance sheet that has earned customer trust." These management changes coincide with further investments in fleet expansion. PIL has recently announced that it has ordered seven 1400 teu container ships, ready to use methanol, from Huanghai Shipbuilding in China. These ships, with a total capacity of 9800 teu, will be delivered between 2029 and 2030 and will primarily operate in intra-Asian and Pacific island trades.
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