Times Shipping's acquisition of the Norwegian shipping giant Bengtsen Group is progressing very smoothly. The two major shareholders of Bengtsen Group are very satisfied with Times Shipping's asking price. After all, it is very ideal to be able to sell it at this price during the cold winter season.
On January 18, 2000, Mr. Lin Zuhui, Chairman of the Board of Directors of Hong Kong Times Shipping Group, announced that Times Shipping had spent huge sums of money to acquire the Norwegian shipping boss Bengtsen Group. Times Shipping's total carrying capacity was nearly 22 million tons, exceeding that of the late "Bao"
Ship King's world shipping record.
Morris, President of Times Shipping, also revealed to reporters that this is already the largest shipping company in the world in terms of total tonnage, and that Times Shipping has ordered new ships of about 7 million tons, which will be added one after another. Times Shipping will set a record.
The steps will not stop.
At the same time, some media revealed that the acquisition cost was US$1.26 billion, once again surpassing the US$1 billion 'merger of the century' created by Times Shipping in 1998 - the purchase of Sea-Land's international liner business and 18 related terminals.
In just two years, Times Shipping has spent US$2.9 billion on mergers and acquisitions of companies, and another US$6 billion on ordering new ships. It has also spent more than US$10 billion on the purchase of second-hand ships, logistics construction, etc.
For a time, everyone was shocked!
Media all over the world have described that Lin Zuhui is well-deserved to be crowned as the new "World Shipping King" and has once again achieved dominance in a new field - shipping.
........
Times Shipping Headquarters is located at the ‘Wah Chi Center’ in Admiralty, Central.
Lin Zuhui convened the top management of Times Shipping to hold a core meeting.
As usual, he first listened to the work report of the senior management and formed a system in his mind. This was due to his IQ being far higher than that of ordinary people, which helped him to achieve great success in his career.
Times Shipping has three core businesses: sea/air transport, ports/tugboats, and logistics/transportation. The three sectors complement each other and develop collaboratively.
Among them, the sea/air transport business not only includes the transportation of containers, oil, liquefied gas, ore, etc., but also includes ship leasing, management and other businesses. As for the air transport business, there is currently no opportunity to enter, but Lin Zuhui’s idea is to wait for the 911 incident
After the incident, they aggressively entered the aircraft leasing business, that is, acquiring leasing companies or purchasing second-hand aircraft, ordering new aircraft, etc.
The vice president in charge of port/tug business reported: “We have completed the acquisition of a 30% interest in West Port Klang, Malaysia. West Port Klang is located on a 520-hectare seafront land. It is an integrated port with terminal facilities that can handle dry and wet cargo.
Bulk and breakbulk... reached an agreement with International Container Terminal Services of the Philippines (ICTSI) and its investors to acquire ICTSI International Holdings Inc. (IIHC), a subsidiary holding company of ICTSI responsible for overseas port development business...
..."
Ports are joining Times Shipping one after another. Although some are not controlling acquisitions, this does not prevent Times Shipping’s ports from being spread all over the world.
"What about the progress of ports in South America?" Lin Zuhui asked.
North America, Europe, Africa, Southeast Asia, and Asia are already dotted with ports of Times Shipping, and South America cannot be missed. After all, there are emerging developing countries like Brazil and Argentina.
"We are negotiating for a port in Brazil. We will report to you as soon as there is any progress!"
"Um"
"By the way, BOSS, we also hope to win the second phase of Beilun Port in Ningbo, Mainland China."
A thought flashed through Lin Zuhui's mind: he wanted to teach the descendants of the Bao family a harsh lesson.
After Wharf and Wheelock completed the redevelopment plans of Times Square and Harbor City, they wanted to become a large-scale real estate developer (residential developer). However, Wu Guangzhen was ambitious and always liked to engage in large projects.
(There is a shadow of the Charter King); as a coincidence, New Era Group is also very interested in these big projects, so from Youyiju, Diamond Hill Land King, to the former site of San Miguel Brewery in Sham Tseng Hoi, New Era Group has
Defeat Wharf and Wheelock, win these big projects, and make big money in front of Jiuqi.
Also, back then, in Modern Container Terminals, Lam Cho-fai almost seized control from the Bao family; of course, his purpose was nothing more than 'blackmail', so in the end he made a profit and got out, and let Modern Containers and Asia Container jointly fight against each other.
International containers.
All kinds of incidents come together, and Lin Zuhui's "suppression" of this family is ever-present.
But it is also common sense - with the birth of new large chaebols, there will inevitably be a huge impact on these old chaebols; and it is not that these old chaebols have never thought of suppressing the new chaebols, but Lin Zuhui grew too fast, and at the beginning he controlled the media
A powerful tool for communication and good network resources.
In a short period of time, Lin Zuhui was on par with the established plutocrats and continued to quickly surpass them. This was something no one expected.
"It's not a big problem. If you need me anywhere, you can report to me!"
"Okay, we have built 2 billion US dollars of ships in the mainland within two years, which seems to be supporting the mainland shipbuilding industry. Coupled with your relationship, boss, it should be easy to win this port."
Lin Zuhui nodded. His mainland port branches are in Guangdong Province, Shanghai Province, Shan Province, and now Zhejiang Province. Of course, he is not greedy and has too much competition with Li Chaoren, because he
I know that the mainland also values Li Chaoren very much.
"It's not just a port issue. Our relationships in the mainland are enough to intervene in the oil and gas transportation and ore transportation in the mainland. You have to be more proactive in this regard. If there is any need for me, report it in time."
Morris immediately nodded and said: "Okay, BOSS!"
Then, Lin Zuhui listened to the business progress of logistics/transportation.
In the field of logistics and transportation, the gradual development adopted by Times Shipping is not as radical as that of shipping and ports; however, this is only for Times Shipping itself, and for the entire logistics field, the development speed of Times Shipping is very fast.
of.
This chapter is not over yet, please click on the next page to continue reading! Lin Zuhui attaches great importance to the development of logistics/transportation. With this business, Times Shipping can provide customers with one-stop services. Just like the 'Cheerilee Freedom' in the previous life
, Times Shipping can purchase from New Zealand and then go to the mainland logistics park to complete the one-stop service, so that customers will naturally be more satisfied; and in the field of red wine...
The logistics/transportation business is not cyclical like the shipping industry. The overall business continues to grow and is stable. This is why Maersk learned from the painful experience around 2016 and vigorously developed logistics/transportation. It spent more than 2 billion US dollars to acquire the logistics of Li & Fung Group.
business.
.........
Bao family.
Su Haiwen, chairman of the board of directors of Global Shipping, and Wu Guangzhen, chairman of Wharf Group, gathered together. Although the four sons-in-law of the Bao family came from all over the world, and even some were Japanese, they were still quite united.
The main reason is that the charter kings were allocated at that time. One son-in-law controlled Wharf, Wheelock and real estate business (Wu Guangzhen), one son-in-law controlled global shipping (Su Haiwen), one son-in-law controlled family funds and investments (Zheng Weijian), and one son-in-law controlled Japan.
Business (Shinichiro Watanabe)
Su Haiwen said solemnly: "Guangzheng, the purpose of Times Shipping's blitzkrieg acquisition of the Norwegian Bengtsen Group is obvious. It must be to get a share of the mainland's oil and gas transportation. As a result, the situation of Global Shipping is not good. You are
Chinese people, what do you think about this? How do you think global shipping should respond to challenges?"
It turns out that Su Haiwen has long been eyeing the mainland's growing shipping business, but now the sudden rise of shipping will have a huge impact on global shipping, which has a capacity of 9 million tons.
Wu Guangzhen said with a wry smile: "With Lin Zuhui's connections in the mainland, Times Shipping is more competitive than Global Shipping. Especially in the past two years, Lin has supported the development of the mainland's shipbuilding industry, and it is impossible for the mainland to refuse to hand over the shipping business to him. So.
, Haiwen, there is not much I can do to help you in this regard, it all depends on you. Although my father-in-law had a lot of connections with the mainland back then, they have been almost exhausted. You need to re-examine your relationship with the mainland. "
Su Haiwen was eclipsed and could only say: "I am also planning to build a few ships in the mainland, hoping to get a share of the mainland's shipping business!"
Global Shipping is helpless against its strong rivals. To be honest, even if Global Shipping acquires the Bengtsen Group, Global Shipping will borrow heavily.
In fact, the expenditure of tens of billions of Hong Kong dollars is already a huge number for global shipping.
However, for New Era Group, it is just a very ordinary expenditure.
In the past few years, Lin Zuhui has made two acquisitions worth hundreds of billions of Hong Kong dollars, and even more worth tens of billions of Hong Kong dollars.
The disparity in strength makes these old chaebols feel great pressure and are somewhat helpless.
........
Times Shipping moved quickly. After acquiring the Bengsen Group, it immediately established a business unit in the mainland to compete for the transportation business of oil, liquefied gas, and iron ore.
This move not only puts pressure on Global Shipping, but also puts pressure on the official company "Hua Shipping".
The three major mainland oil companies are customers of Global Shipping, but now there is a risk of switching to Times Shipping;
Although China Shipping is a government-owned enterprise, they also understand that the mainland must take care of Times Shipping. Not to mention Lin Zuhui’s relationship, the ship order worth 2 billion US dollars is a huge favor. 2 billion US dollars in itself is a very big deal for the shipbuilding industry.
This large sum of support, coupled with the international influence behind it, will have a profound impact on the entire Chinese shipbuilding industry.
Of course, after feeling the ambition of Times Shipping and Lin Zuhui, more people raised questions: "Lin Zuhui is spending tens of billions of dollars at this time. Is it a big gamble?"
This kind of discussion is endless, and professionals think it is a bit "reckless", but Lin Zuhui has many supporters, and they all believe that "things must be reversed". Mr. Lin Zuhui is buying the bottom of shipping at this time, which shows that shipping will explode in the next few years.
Lin Zuhui doesn’t take these discussions seriously!
Over the years, he has invested in many long-term projects, such as beverages and food, shipping, hotels, etc. In the early stage, he only focused on investment and did not consider returns. What supported his play was New Era Group's profits in real estate and finance.
New Era Group has no shortage of followers. Stocks are the favorite investment of Xiangjiang citizens, and the best proof is that its market value has exceeded one trillion.
.......
In late January, the media once again reported that Times Shipping and Mainland Beilun Port were in talks to jointly develop the second phase of Beilun Port. The joint venture will invest RMB 2 billion and be responsible for operating and managing three container berths in the second phase of Ningbo Beilun Port.
.
As the news spread, it was picked up and spread by Hong Kong media.
Many media bluntly stated that with the strong rise of Times Shipping, the global shipping established by the charter king will become very difficult; now, Times Shipping not only wants to seize the oil transportation business, but also the second phase of Beilun Port.
In the earliest days of Beilun Port, it was the charter king who proposed the construction of a deep-water port. The first phase of the project was jointly built by Bao and the mainland. Now that Times Shipping has just acquired the Norwegian Bengtsen Group and turned to Beilun Port, it is inevitable that people will feel that
Times Shipping is targeting global shipping.
When the news reached Global Shipping, its chairman Su Haiwen could only sigh. He told the senior management around him: "Beilun Port is only secondary, the most important thing is the attitude of Times Shipping. Now it seems that Global Shipping will usher in a strong opponent.
This family business passed down to me by my father-in-law must be carried forward no matter what. You search for established liquid and gas shipping companies around the world that can be acquired to extend the group's business from oil to liquid and gas transportation."
A senior executive said: "Times Shipping has ordered new ships worth US$6 billion within two years, including many oil ships. It seems that they not only want to transport natural gas, but also want to enter the transportation of oil in a big way."
"We at Global Shipping are the leader in the oil field, with a history of more than 40 years, and we are not afraid of challenges!" Su Haiwen said confidently.
Some senior executives want to stop talking. Global Shipping is the leader in the field of oil transportation. It is good, but in the past, almost all ships were leased. The key is that New Era Group has deep pockets. If it enters the field of oil transportation, it will definitely come with force.
.......
Cheung Kong Industries.
When Li Chaoren heard that Times Shipping had captured Beilun Port, he immediately frowned.
"Beilun Port, I have long wanted to cooperate, but Lin Zuhui beat me to it." He said to himself.
From Europe to Southeast Asia, the Americas to Asia, Times Shipping has used its unparalleled momentum to continuously win the operating rights of many ports. This makes Hutchison Whampoa always feel like it is chasing after Times Shipping.
The key is that after many countries opened their ports to Times Shipping, they no longer planned to cooperate with Hong Kong-funded enterprises to avoid being controlled by capital from one place.
This has restricted the development of Hutchison Whampoa.
"How can one be bright when one is born with excellence?"
"Since the rise of Lin Zuhui, my career development has been restricted by many aspects. From real estate, ports, to retail, and telecommunications, all the businesses that should belong to me have been snatched away by Lin Zuhui."
At this moment, the old and strong Li Chaoren was a little confused. Fortunately, he quickly finished complaining and continued working as if nothing was wrong.
After all, he can't beat Lin Zuhui, and he can't compete with anything else!