{"id":20230,"date":"2021-07-30T09:51:34","date_gmt":"2021-07-30T09:51:34","guid":{"rendered":"https:\/\/sms-bridges.com\/staging\/taking-the-caravel-group-forward-into-the-next-generation-copy\/"},"modified":"2022-06-14T04:29:06","modified_gmt":"2022-06-14T04:29:06","slug":"wah-kwong-steering-toward-a-responsible-future-for-shipping","status":"publish","type":"post","link":"https:\/\/sms-bridges.com\/staging\/wah-kwong-steering-toward-a-responsible-future-for-shipping\/","title":{"rendered":"Wah Kwong: Steering toward a responsible future for shipping"},"content":{"rendered":"\n
\"\"
Hing Chao<\/strong>, Executive Chairman of Wah Kwong Maritime | \u00a9 Wah Kwong Maritime <\/figcaption><\/figure><\/a><\/div>\n\n\n\n

In the 1950s when the seeds of Hong Kong\u2019s and Japan\u2019s economic miracles were sown, T.Y. Chao established Wah Kwong Maritime Transport Holdings Ltd. in 1952. \u201cShipping is a global business,\u201d explained Hing Chao, the executive chairman and a third-generation custodian of the company.<\/p>\n\n\n\n

\u201cFrom the very beginning when my grandfather started the company, we had to understand our strengths and our role within the Hong Kong shipping industry in relation to international economic developments, particularly those taking place in Japan in the 1950s and on through to the 1970s.\u201d<\/p>\n\n\n\n

Wah Kwong\u2019s contacts in Japan played a defining role in the growth of the company.<\/p>\n\n\n\n

\u201cIn terms of new building activities Wah Kwong has undertaken over the years, the first Japanese vessel we took delivery of was back in 1958. Over the last 70 years, we have built over 140 ships in Japan,\u201d said Chao.<\/p>\n\n\n\n

Wah Kwong maintains close relationships with Japanese shipyards and trading houses, as well as major shipping companies and charterers.<\/p>\n\n\n\n

\u201cWe are also developing new relationships with banks and other financial institutions in Japan,\u201d explained Chao, \u201cincluding with Iyo Bank which we are very pleased with. We are eager to work with more Japanese banks as well as leasing companies as we move forward.\u201d<\/p>\n\n\n\n

Since taking on the role of chairman in 2019, Chao has created a more diversified company.<\/p>\n\n\n\n

\u201cThe development of our asset-management business enables us to provide technical management services to ship owners and offer fully integrated management services, including joint venture partnerships with our clients.\u201d<\/p>\n\n\n\n

Sustainability is at the forefront of Chao\u2019s long-term vision for Wah Kwong. Last year, the company signed an agreement with CLP Innovation Enterprises, a Hong Kong energy company promoting carbon offsetting solutions and raising awareness of \u201cdecarbonization\u201d in the shipping industry.<\/p>\n\n\n\n

Wah Kwong is probably the first shipping company in Hong Kong to have a strategic plan in place to offset our carbon emissions.<\/p> Hing Chao<\/strong>, Executive Chairman of Wah Kwong Maritime<\/span><\/cite><\/blockquote><\/figure>\n\n\n\n

\"\"<\/a><\/figure><\/div>\n\n\n\n

\u201cThe shipping industry faces a monumental challenge to decarbonize. While the ultimate goal is to employ a fleet of ships with zero-carbon modes of propulsion, we also believe we should engage with partners to mitigate the impact of the shipping industry on the environment during this important transitional period through carbon offset strategies.\u201d<\/p>\n\n\n\n

Anchored by family values and a desire to create a unified Asian shipping community, Chao concluded that other players in the region should take a fresh look at the situation.<\/p>\n\n\n\n

\u201cI encourage our Japanese friends and partners to look closely at our treasured relationship and view it in a more multilayered and innovative manner. Through Hong Kong, China and Japan can collaborate to create a stronger Asian voice within the regional and global shipping sector.\u201d<\/p>\n\n\n\n

www.wahkwong.com.hk<\/strong><\/a><\/p>\n\n\n\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

In the 1950s when the seeds of Hong Kong\u2019s and Japan\u2019s economic miracles were sown, T.Y. Chao established Wah Kwong Maritime Transport Holdings Ltd. in 1952. \u201cShipping is a global business,\u201d explained Hing Chao, the executive chairman and a third-generation custodian of the company. \u201cFrom the very beginning when my grandfather started the company, we […]<\/p>\n","protected":false},"author":1,"featured_media":20234,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[331,292,259,522,615,123],"tags":[506],"class_list":{"0":"post-20230","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-331","8":"category-articles","9":"category-bridging-japan","10":"category-hong-kong-jt-bridging-japan","11":"category-shipping-logistics-hong-kong-jt-bridging-japan","12":"category-shipping-logistics","13":"tag-industrial"},"yoast_head":"\nWah Kwong: Steering toward a responsible future for shipping - Bridges Magazine<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sms-bridges.com\/staging\/wah-kwong-steering-toward-a-responsible-future-for-shipping\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wah Kwong: Steering toward a responsible future for shipping - Bridges Magazine\" \/>\n<meta property=\"og:description\" content=\"In the 1950s when the seeds of Hong Kong\u2019s and Japan\u2019s economic miracles were sown, T.Y. 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