Hing Chao is the executive chairman of Wah Kwong Maritime Transport Holdings, one of Hong Kong’s oldest and largest shipowners. The company was founded by Chao’s grandfather in 1952 as part of a wave of shipping dynasties from Shanghai that would find refuge in Hong Kong after the civil war in mainland China.
Chao took over the chairmanship of Wah Kwong in 2019, and has since then diversified the company’s revenue stream, first by introducing ship management and later ship operating business. Wah Kwong currently manages a fleet of 79 vessels, which includes oil tankers and dry-bulk and liquefied petroleum gas (LPG) carriers. The company also owns a fleet of 37 vessels.
Chao told Forbes Asia that he aims to propel Wah Kwong into the ranks of the world’s top 10 ship managers over the next five years, while leading the company to become a medium-sized operator of dry bulk ships. Meanwhile, Chao said he would strive to protect Wah Kwong’s status as “one of the most reputable premier asset tonnage providers in the world.”
“I think we’re already there, so it’s about maintaining this position and moving with the trend, and hopefully being one of the first movers in really investing into ships of the future,” he said.
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