SINGAPORE: The year 2017 is a significant year marking the 50th year in operation of the Singapore-owned and headquartered shipowner - Pacific International Lines (PIL). Established on 16 March 1967 with four coastal geared cargoships, today the company ranks as one of the World’s Top 20 Container Lines, and a combination of consolidation in the sector and PIL’s own fleet growth could see it in the top 10 in the next few years.
Founded by Chairman Mr. Chang Yung Chang, PIL remains a family owned business with son Mr. SS Teo at the helm as Managing Director.
Mr. Teo says: “Today we pride ourselves being the largest privately owned shipping group in Southeast Asia.
“PIL has gone a long way since it was founded by our Chairman, Mr Y C Chang, 50 years ago on 16 March 1967. We will continue to work hard and smart, remain humble, be focussed, continue to improve and innovate. This is in line with our founder, our Group Chairman and my father’s philosophy.”
Despite the tough times shipping has experienced in the last few years PIL has continued to grow its business across shipping and logistics, both in the niche trades that are its hallmark, and as a global business to give it a worldwide network.
“In a rare interview with one publication in February 2012, my father was called ‘Survivor of the High Sea’. He is cautious but with an eye for opportunity.
He has an instinct for the industry which comes only with experience. He understands that relationships last far longer than the cycles of boom and bust,” Teo explains.
“That DNA now runs through the company he founded. PIL will continue to be a spirited survivor in this testing environment.”
On the niche front of PIL’s business over the last 18 months to two years the company has continued to expand in the Pacific and Oceania region, China and Africa, in relation to China’s One Belt One Road (OBOR) initiative.
“I believe that PIL is one of the first companies in Singapore to respond positively to OBOR,” Teo says.
“OBOR is a very grand vision and many countries can benefit through it.”