Wah Kwong Maritime

Hong Kong-based shipowner and operator Wah Kwong Maritime sold 2008 built panamax bulk carrier 77K DWT MV Priscilla Venture for around $11.5 million. In 2008, MV Priscilla Venture was built at Oshima Shipbuilding and MV Priscilla Venture is due for a special survey (SS) in March 2023. Sabrina Chao-led Wah Kwong Maritime owns a fleet of 20 ships and endeavors to increase its operated fleet to 50 ships by the end of 2020. 14-September-2020

 

Hong Kong-based Wah Kwong Maritime Transport executive chairman Chao Sih Hing made a firm pledge to keep his family company in shipowning. According to Chao Sih Hing, Wah Kwong Maritime Transport is committed to the family tradition of ordering, building, and selling ships. Recently, Chao Sih Hing transitioned into Wah Kwong Maritime Transport chairman’s role after his sister Sabrina Chao stepped back. In the past few years, Wah Kwong Maritime Transport has been increasingly acted as a service provider in technical, newbuilding management, and commercial services for new Chinese fleets. However, Asset light activities will be only a small portion of Wah Kwong Maritime Transport’s business. In the same event, Orient Overseas Container Line’s (OOCL) Chief Information Officer (CIO) Steve Siu made the case for technology’s transformative powers. Furthermore, Dingheng Shipping’s CEO Li Duozhu explained that in the near future shipping market will see the shipowners of the world shakedown to 10 players and crewless autonomous shipping will be the key to survival for a few players who latch onto the new methods. On the other hand, Sumec Ocean Transportation’s Manager Yang Lei believes that artificial intelligence (AI) depends on volumes of data that are much less relevant to capesize chartering than to the ultra-detailed task of managing global container logistics. According to Yang Lei, we will not have unmanned ships in 20 years, because the cost of a crew is nothing compared to the cost of a ship sinking. 11-September-2019

 

Hong Kong-based shipowner and operator Wah Kwong sold 2012 Chinese built handysize bulk carrier 32K DWT MV Bonnie Venture to European ship owners for about $9.5 million in December 2018. Chinese built MV Bonnie Venture was sold at a discount compared to a similar Japan-built handysize dry bulk carrier. Similar 2012 Japanese built handysize bulk carrier 32K DWT MV Coral Ocean was sold about $14 million by First Marine to Turkish shipowner in January 2019. 3-February-2019

 

Hong Kong-based shipowner and operator Wah Kwong Shipping chartered out cape size dry bulk carrier 2011 built 176K DWT M/V Cape Asia for one year at $15,900 per day to mining giant Rio Tinto. Capesize dry bulk carriers average $12,000 per day in 2017. 22% of softening Chinese steel prices has a significant effect on the dry bulk market. Hong Kong-based shipowner and operator Wah Kwong Shipping has 24 dry bulk carriers and tankers in the fleet. 13-April-2017