Hong Kong University Press C. Y. Tung (1912-1982) and the Rise of Modern Chinese Shipping

Shanghai-born and later Hong Kong-resident shipowner TUNG CHAO-YUNG (1912–1982) is remembered worldwide as a champion for Chinese shipping, founding the companies Chinese Maritime Transport and Island Navigation, and pioneering container shipping for Asia in Orient Overseas Container Line/OOCL. Despite coming from a humble background, by the time of his death he controlled a huge fleet of passenger liners, bulk carriers, tankers, and container ships, while also being diversified into port terminals, dockyards, banks, and prime real estate. This business biography sets out his pathway from a junior executive in the early 1930s to one of the world's leading private shipowners. The authors argue that Tung achieved his desire to develop Chinese ocean shipping through his ability to learn, innovate, network, and devise strategies through decades of rapid technical and organizational change. He also earned respect for his generous philanthropy. After his death, sons Tung Chee-Hwa and Tung Chee-Chen were able to navigate a financial crisis, and restructure the Group in the face of intensifying competition in the 1980s, grow the Group through the challenges and opportunities of globalization and advancement in supply chain management and technology within the industry in the 1990s through 2010s. OOCL became one of the most competitive liner companies in the industry until divestment in 2017. Eight decades since their establishment, privately owned Island Navigation and, now independently, Chinese Maritime Transport continue to trade globally in dry-bulk and tanker markets. The book concludes with an overview of the emergence of the state-owned PRC fleet and brief histories of other multi-generational family companies.