Page 62 - Next Generation 2015 - Digtial Issue
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Next Generation Asia
his management that Xinfu triumphantly The 39-year-old chief financial officer has
delivered the Seaspan sextet in 2014. made things add up for Wah Kwong and sees
The father is apparently confident shipping as “solid” business
about the designation, saying his son
will help him “steer the group in the right Hong Kong
direction and bring more success”. Vince Lai
Ren Letian’s ascension is certainly THE front figures of Wah Kwong Marine successfully helped Wah Kwong to tap
coming at a crucial moment, as YZJ, Transport, one of the most famous into Chinese financing as European
which initially thrived on building dry private shipowners in Hong Kong, have lenders withdrew.
bulkers, is now aiming to transform itself been its chairman Sabrina Chao and
into an all-rounder. chief executive Tim Huxley. Over the past seven years, the
owner has become one of the first in
Its successful experience of The person who draws relatively shipping to take advantage of China’s
accomplishing the 10,000 teu vessels has less public attention but could be expanding export credits, as well as
allowed it to think even bigger: ultra large just as important is Vincent Lai, who Chinese commercial banks and leasing
containerships. has helped the Chao family business firms’ increased shipping portfolio.
navigate through the post-2008
Meanwhile, it has also begun to downturn. Well regarded for his work,
make headway in liquefied natural Mr Lai was promoted to executive
gas tankers, with two 27,500 cu m LNG Mr Lai joined Wah Kwong as director and chief financial officer
carriers inked with Evergas, and research financial controller in 2008, when in January 2013.
and development on the 84,000 cu m the owner was in need of financing
vessels under way. its orderbook of more than 12 bulkers As an owner that prioritises
and tankers, after scrapping its initial profitability over business scale, Wah
Last month, the chairman even public offering. Kwong generally takes financials into
expressed his interest in building consideration at the early stage of
valemaxes — the very large ore carriers Fluent in Mandarin, Cantonese decision-making process. Mr Lai has
for the Brazilian mining giant. and English, the financial specialist been actively involved in Wah Kwong’s
His son would undoubtedly play a
key role in such ambitious plans.
It appears that it is not only Mr Ren
senior who has faith in YZJ’s future.
BlackRock, the world’s largest
investment house, with $4.77trn
of assets under management, has
repeatedly increased its stakes in YZJ
over the past months.
With 28,500 more shares bought on
April 28, it now holds 191.6m YZJ shares,
or a total 5% stake in the company.
60 | Lloyd’s List Next Generation 2015 | www.lloydslist.com
