No matter how long the "Map of Yan Kingdom" is, when it is fully unfolded, the "dagger" hidden inside will be exposed sooner or later.
Zhao Xianmin naturally didn't know what "Map of Yan State" meant, but this did not affect his feeling of unease at the moment.
Having worked for his family and at Hanjin Shipping for more than 20 years, Zhao Xianmin has never been as anxious and uneasy as he was this year, as if he was walking on the edge of a cliff that is about to collapse and may fall at any time.
Because it is different from the impression that most people in the outside world have of "the largest shipping company in the country and one of the top ten shipping companies in the world". In the eyes of their own family members, Hanjin Shipping, the seventh largest shipping company in the world, is on the verge of collapse.
Suppressing the turbulent emotions in his heart, Zhao Xianmin took off his glasses and wiped them with a glasses cloth.
"We haven't seen each other for a few years. Prince Carl won't just chat with me about the past, right?"
Putting on his glasses, Zhao Xianmin raised his head, still smiling.
There were a total of five people sitting in the spacious hotel reception room.
Zhao Xianmin and his entourage, and Theo Richter von Fernando and his two "entourages".
"Lin, my friend, he has a newly established shipping company, please take care of it."
As a member of the Wittelsbach family, Theo knew Zhao Xianmin because of the previous transactions between Hapag-Lloyd and Hanjin Shipping.
However, Hanjin Shipping was in high spirits at that time, but now it is on the verge of collapse.
"shipping company?"
Following Theo's fingers, Zhao Xianmin turned his attention to Lin Zengxian next to Theo.
From the moment they first met, Zhao Xianmin did not regard this man who talked and smiled little as Theo's follower.
Looking at it now, it turns out that this person is the main topic today, and Theo is just a foil.
"F.S.E is a small company established this year."
Lin Zengxian first glanced at Mingjing Nan who was sitting next to him, then took out his company's business card and handed it to Zhao Xianmin.
After eating and chatting, Theo has completed his task, and now it's time for Lin Zengxian to appear.
"It's simple. We have our own shipyard with 20,000 TEUs. Since you are a friend of Prince Carl, if you need anything, just ask."
Although he was murmuring in his heart, he didn't think Lin Zengxian was just asking for favors, but Zhao Xianmin could only laugh and give face to the Wittelsbach family behind Theo.
"You are a senior, I have a question to ask."
Putting his palms together, Lin Zengxian leaned forward slightly, assuming a respectful posture.
"Speaking."
With his peripheral vision, Zhao Xianmin glanced at Theo, who said it had nothing to do with him, and Mingjing Nan, who said "keep strangers away," and Zhao Xianmin met Lin Zengxian's gaze.
I can't read anything, and I can't feel any emotional ups and downs of this person.
"Shipping companies are under increasing pressure to build larger ships, and blindly building large ships is not a good choice. What do you think?"
Without naming anyone, Lin Zengxian just asked a malicious question with an innocent face, but Zhao Xianmin must have understood.
"Why do you say that?"
Just as Lin Zengxian thought, Zhao Xianmin not only understood it instantly, but was also wondering whether there was an insider in his company and leaked the business secrets to Lin Zengxian, or that Lin Zengxian knew some important inside information.
information.
"The cost of building a big ship is huge, and you will definitely need a loan, but there is always a limit on the loan. If you can make a profit, even if it is only a little profit, you will have to pay off the loan one day. But something unexpected happens and the income cannot cover the expenditure.
…”
Lin Zengxian nodded somewhat heavily, his eyes concerned.
"The bank is not a philanthropist. If you don't pay the money now, then he will liquidate you now. This situation is very difficult to handle, right?"
After Lin Zengxian finished speaking, the reception room fell into a brief silence.
Theo still said "it's none of my business", and Mingjing Nan still looked like "keep away from strangers", but in fact he was suppressing a smile.
She saw Zhao Xianmin's entourage, and the man's face looked a little ugly.
Lin Zengxian almost openly revealed Hanjin Shipping's predicament, which can even be called a desperate situation.
"Although the current situation is very difficult, it will not last forever. Even if we encounter some minor changes, I am still optimistic about my future career."
Suppressing the ten thousand curse words that came to his mind, Zhao Xianmin smiled without changing his face and temporarily avoided the other party's sight.
The dead duck is still tough-talking, but now he can only show off.
"According to Alphainer statistics, container shipping prices peaked in 2005, and then began to decline year by year. They bottomed out during the financial crisis in 2009. Although there was a slight rebound in 2011, they have basically remained at the 2009 level since then.
Considering the depreciation of the currency, freight rates are actually falling, and supply exceeds demand."
Hanjin Shipping is a container-based shipping company. Although it is known as the seventh largest shipping company in the world, it is actually only the seventh largest container liner company. Therefore, Lin Zengxian brought up the topic of "container ships" to poke fun at the other party.
The sore spot.
"Before the financial crisis, that is, at the peak of the industry, your company made large-scale investments in shipbuilding, terminals, and shipyards. I remember that in 2010, there was news that your company had delayed the receipt of new ships.
That batch of 10,000-box new ships should have been ordered by your company in 2006, right? But by 2010, the value of those new ships had been cut in half, and the freight was so low that it couldn't even cover the financing costs."
Maybe Lin Zengxian doesn't want to poke the opponent's sore spot, but wants to poke the opponent to death?
Listening to Lin Zengxian's words in silence, Mingjing Nan lowered his head to look at his fingers and squeezed them gently.
Her grandfather once told her to pay more attention to Lin Zengxian, but now it seems that he always has a "bad character".
"From 2007 to 2009, your company signed ten-year charters with a large number of ship owners. Based on last year's market conditions, the rents of those charters were twice the market level, and the chartered ships accounted for your company's total fleet
Two-thirds of that.”
Every time Lin Zengxian finished speaking, Zhao Xianmin's expression became stiffer.
"Senior, your company's liquidity has been almost exhausted by these projects, right? At the end of last year, your company's debt ratio exceeded 680%. I remember that Maersk's debt ratio was only 24%, far below the 200% safety line.
"
Since we chose to follow Maersk’s big ship strategy, don’t blame others for making an issue out of it today.
Where Lin Zengxian couldn't see him, Mingjing Nan relaxed his tense mood and began to play with his fingers.
“Let’s talk about routes again. Your company’s main routes are the trans-Pacific and Asia-Europe routes. Among them, the trans-Pacific route is due to the Panama Canal widening project ending this year. The navigable ships have changed from the old Panamax of 3,000 to 5,000teu to 8,000 to 13,000teu.
New Panamax. Your company has been operating this route for a long time and has a large number of old Panamax on hand. Compared with New Panamax, the operating cost is much higher."
As he spoke, Lin Zengxian sighed, seeming to be worried about Zhao Xianmin.
"If you don't update your fleet, it will be difficult for your company to compete with other companies, but updating your fleet will require a large investment. Judging from your company's current debt situation, it is impossible to update your fleet."
Next to Lin Zengxian, Ming Jingnan hooked the little finger of his left hand with the little finger of his right hand, and then lightly scratched the palm of his left hand.