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Women Leading Maritime: In Conversation with Angeline Teo

In conjunction with the month of International Women’s Day 2025, we celebrate the achievements of female maritime professionals who have dedicated their careers to this essential industry that drives world trade and the global supply chain.

In this third blogpost of our Women Leading Maritime series, we spotlight Angeline Teo, Managing Director, Head of Global Transportation at OCBC Bank and Board Member of the Singapore Maritime Foundation. She tells us why she has never had a dull moment even after three decades in the industry.

Angeline Teo
Angeline Teo, Managing Director, Head of Global Transportation at OCBC and SMF Board Member

Personal Career Journey

Can you share how your career led you to the maritime industry? Was it a sector you always wanted to get into, or one that you entered by serendipity?

Serendipity for sure! I was quite sure I wanted to do corporate banking after I graduated but it was only after I landed my second job after graduation with then the largest shipping and offshore bank in the world that really opened my eyes to an industry that was truly global. As a young banker, I was exposed to the most unique experiences – some of my best memories included climbing into a (cleaned) LNG tank during its dry dock in Singapore, and the harrowing experience of carrying cash wages in bags to an abandoned ship (by the owner) that my then bank had financed anchored just outside Singapore, to pay the crew so that they could leave the ship and we could sell it. It was only later that I realised how dangerous that could have been!

As I continued to persevere, the close-knit circle of the ecosystem comprising owners, bankers and service providers became a magnet to stay in the sector and after a while, it became a pair of comfortable shoes – I can run the distance and not feel tired!

What about maritime continues to fascinate you to this day?

That there is hardly a dull moment!  The combination of volatility and the high capex requirement does create big swings that require shipping to be long-term play.  How one manages this risk is a skill honed by experience and tenacity.   

Shipping is affected by world events – be it wars, the threat of wars, sanctions, oil prices, the economy, and climate change, to name a few.  It is both specialised yet broad, which adds to the appeal. 

Shipping is also fun!  It is a common adage that once in shipping always in shipping.  It is a warm community that allows one to make life-long friends and “grow old” together. 

I have been most privileged to meet colourful personalities in shipping and follow “feast and famine” through the shipping cycles.    

Reflections on Leadership and Inclusivity

Many perceive maritime as being traditionally male dominated, especially at the top. Have you found this to be true and has this changed over the years that you have been in the industry?

Maybe because shipping is not for the faint-hearted!  Honestly, I never felt disadvantaged in terms of opportunities. The organisations I worked for gave me as many opportunities as I could handle.  I believe that passion is the more important ingredient of success, as it will drive the hunger to embrace opportunities. 

Over the years, how have you picked up your lessons in leadership? And what have been some enduring leadership principles that have withstood the test of time?

I have had the opportunity to work for passionate maritime leaders who have spent their entire careers in the same sector!  They have one common thread – they live and breathe shipping and for some, this passion extend to their personal lives. For example, one of my former bosses kept a huge personal collection of old photographs and books of shipowners and shipyards in Europe. 

The best colleagues, looking back, are those who respected and cheered you on, and never once treated you differently just because you are not “one of the boys”. That gave me the energy and confidence to carve a unique place for myself in the ship finance arena.

If you could speak directly to younger women considering a career in maritime, or are today in the industry trying to work their way up, what would you tell them?

Firstly, I would say: “Don’t take no for an answer”. It is a mantra that I adopt to push the envelope in almost everything I do. This attitude can be a game changer and can open up new opportunities or help us question assumptions. And if the answer is still a “no”, at least ask “why.”   

Secondly, don’t be afraid of the unknown which will limit your growth.  It is ok not to know everything because shipping is dynamic, and everyone is learning at the same time.  Most people are generous and willing to share what they know as long as we demonstrate an interest.

Lastly, have fun because the journey is as important as the destination.

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Mr. Lars Kastrup

CHIEF EXECUTIVE OFFICER, PACIFIC INTERNATIONAL LINES

Mr. Lars Kastrup is the Chief Executive Officer of Pacific International Lines (Pte) Ltd (PIL).

Prior to joining PIL, Mr. Kastrup was CEO of NOL/APL, and subsequently assumed the role of Executive Vice President, Strategy and M&A at CMA CGM Group. A veteran in the global shipping industry with over 30 years of experience, Mr Kastrup’s other roles include Executive Vice President of Assets at CMA CGM Group heading up CMA Terminals, CMA Ships, Container Logistics as well as regional carriers such as MacAndrews, OPDR and Mercosul; as well as Vice President at AP Moller-Maersk.
Mr. Kastrup complemented his tertiary education with leadership and management training at Penn State University and The Wharton School at the University of Pennsylvania.

Ms. Angeline Teo

MANAGING DIRECTOR & HEAD, GLOBAL TRANSPORTATION & OFFSHORE, OCBC BANK

Ms. Angeline Teo is the Managing Director and Head of Global Transportation and Offshore, Global Corporate Banking at OCBC Bank which focuses on the maritime, aviation, land & port ecosystems.
Ms. Teo has spent over three decades in maritime finance. Prior to OCBC, Ms. Teo was working at ING Bank, ABN Amro and DnB in Singapore focusing on maritime and offshore.
Ms. Teo graduated from the National University of Singapore with a degree in Business Administration.

Mr. John Martin

CHIEF EXECUTIVE OFFICER, GARD SINGAPORE

Mr. John Martin began his career in London in 1989 with Richards Hogg Lindley Average Adjusters, and qualified as a Fellow of the UK Association of Average Adjusters in 2000.
At RHL he worked in their offices in Australia, Taiwan and Hong Kong. In 2003 he joined Gard Hong Kong, as a claims handler. Mr. Martin also worked in Gard Japan, and in 2014 he moved to Singapore to set up the Gard Singapore office.
Besides running Gard Singapore, Mr. Martin also heads the P&I and H&M claims units and is the Senior Claims Representative for Gard in Asia.

Mr. Cyril Ducau

CHIEF EXECUTIVE OFFICER, EASTERN PACIFIC SHIPPING

Mr. Cyril Ducau is the Chief Executive Officer of Eastern Pacific Shipping Pte Ltd, a leading shipping company headquartered in Singapore for the past 30 years.

He is also currently the Chairman of Kenon Holdings Ltd and a member of the board of directors of Gard P&I (Bermuda) Ltd. and of the Global Centre for Maritime Decarbonisation Limited, which was established by the Maritime and Port Authority of Singapore. He was previously Head of Business Development of Quantum Pacific Advisory Limited in London from 2008 to 2012 and acted as Director and Chairman of Pacific Drilling SA between 2011 and 2018.
Prior to joining Quantum Pacific Advisory Limited, Mr. Ducau was Vice President in the Investment Banking Division of Morgan Stanley & Co. International Ltd. in London between 2000 and 2008.
Mr. Ducau graduated from ESCP Europe Business School (Paris, Oxford, Berlin) and holds a Master of Science in business administration and a Diplom Kaufmann.