Capítulo 1414: Chapter 1414: Becoming the World's Shipping King Behind the Scenes
"Haha, Wah Kwong Shipping has been suspended!'
Early that morning, Xia Yu received the latest news from below, but he was not surprised.
Wah Kwong Shipping is currently the third largest shipping company in Xiangjiang, second only to Orient Overseas Container Line and Wheelock Shipping.
The current chairman and president is Zhao Congyan, the head of the Zhao family.
In the 1970s, Zhao Congyan, Bao Yugang, Dong Haoyun and Cao Wenjin were known as the 'four great shipping kings' of Hong Kong.
However, Bao Yugang later abandoned the ship and went ashore, leaving three of the four Chinese shipping kings.
In addition to the main business of Wah Kwong Shipping Company, the Chiu family also had another subsidiary, Far East Real Estate Company, which was the predecessor of the later Cheuk Nang Real Estate Company.
However, because Xia Yu had suppressed the housing prices in Hong Kong so strongly that the real estate market in Hong Kong could only rely on commercial real estate for development, the development of Far East Real Estate Company could only be considered good, not outstanding.
After all, in Hong Kong, if you want to make more profits in commercial real estate, you must have the ability to create a mature and prosperous business district.
If you don't have this ability, you can only rely on other people's business districts, and the development cost of commercial real estate will inevitably be extremely high.
And, precisely, to create a mature and prosperous business district, it is extremely necessary to have the ability to integrate various social resources and invite various businesses with high traffic to move in.
In Xiangjiang, Xia Yu has the most of these resources.
...
'Liabilities exceeded 8.3 billion Hong Kong dollars, assets were 9.7 billion Hong Kong dollars, the market value fell to 960 million Hong Kong dollars, and trading has now been suspended.'
'The debt ratio has reached 85.6%. Although it is still some way from bankruptcy, the capital chain has broken, and it will be very difficult for Zhao Congyan to save it.'
'The performance obligation that is due immediately is HK$1.17 billion. No bank will definitely dare to extend credit to him now.'
Xia Yu thought about this and picked up his phone to call Fok Kin-ning, asking him to arrange for Wheelock Shipping to increase its acquisition of Wah Kwong Shipping during the shipping market bottom fishing operation.
Although Wah Kwong Shipping Company's total assets are now only HK$9.7 billion, this is the lowest point in shipping prices.
Once the market recovers, Wah Kwong Shipping Company's total assets will naturally be more than HK$9.7 billion.
The current price of second-hand cargo ships is only one-fifth of the selling price of new cargo ships of similar size before the shipping crisis broke out six or seven years ago!
As long as the global shipping market comes out of the doldrums, it will be a breeze for Wah Kwong Shipping Company to see its total assets rise back to HK$20 billion, and its debt ratio will immediately fall below 50%.
With this debt ratio, Wah Kwong Shipping Company will be a quality shipping company.
Of course, the prerequisite is that Wheelock Shipping Company will retain Wah Kwong Shipping Company as a separate company after the acquisition, rather than merging it...
But in any case, this is a bargain, a sure profit!
...
In July, there was a flurry of big news in the global shipping market.
First, here on the island nation.
The year before, the world's largest shipping company, Sanko Steamship, had begun bankruptcy restructuring.
Because of its large scale, extremely high debt, and the fact that the shipping market had been in a downturn, it was difficult to find investors to take over after Sanko Steamship began bankruptcy restructuring.
Even if some investors were found, they were all relatively small in scale and unable to support Sanko Steamship in completing its restructuring.
As a result, the Sanko Steamship Group could only slow down the pace of restructuring, while restructuring, while actively looking for investors.
But this time, the Sanko Steamship Group received support from a large number of companies, including the king of island brokerage firms, Nomura Securities, one of the four major credit companies, Sunshine Credit, Chiba Bank, Shizuoka Bank, and so on.
These companies are all companies of the Zennichi Group that Xia Yu wants to build in the island country.
After these companies came forward, they acquired the entire Sanko Kisen Group for just 32 billion yen.
Of course, 32 billion yen is something that any one of these companies could have come up with. The reason why so many companies came forward together was to take on the Sanko Kisen Group's original high debt.
This acquisition went very smoothly, and even without using connections, the island country government was very supportive.
After all, the sooner the Sanko Steamship Group was restructured, the sooner shipbuilding companies such as Seko, Kawasaki, Hakodate, Usuki, Oshima, Keihin and Universal Shipbuilding could follow suit and escape the crisis. This saved the entire island nation's shipbuilding industry.
In addition to acquiring the Sanko Steamship Group, Xia Yu's Zhenri Group has also made a series of major moves in the island nation.
The first was the full acquisition of the Imabari Shipbuilding Group, which had no background with the six major consortia in the island country. It was a shipbuilding company founded in 1901 and ranked ninth in the island country's shipbuilding sector.
After acquiring the Imabari Shipbuilding Group, it allowed it to make successive moves and merge and acquire some shipyards in trouble across the island country.
After the acquisition, although the integration was not completed, in terms of scale, it became the island country's fourth largest shipbuilding group.
It is second only to the Ishikawajima-Harima Heavy Industries Group of the Mitsui Group, the Kawasaki Shipbuilding Group of the Dai-Ichi Kangyo Group and the Mitsubishi Heavy Industries Group of the Mitsubishi Group.
Sumitomo Heavy Industries Marine & Engineering and Hitachi Zosen are both ranked below the Imabari Shipbuilding Group.
...
And in Europe.
The Bright Fund has stepped in.
First, it acquired the Danish giant A.P. Moller-Maersk A/S for £1.97 billion.
Founded in 1904, the company is mainly engaged in shipbuilding and maritime transportation, oil and gas exploration and development, air transportation, retailing of commodities, etc., with more than 30 subsidiaries and more than 20,000 employees worldwide.
The reason for the merger is that its two main pillars, shipbuilding and maritime transportation, and oil and gas exploration and exploitation, have both fallen into a quagmire.
The international oil price has fallen like a dog, and the global shipbuilding and shipping markets have been in the doldrums for so many years, causing A.P. Moller-Maersk to suffer heavy losses.
After taking it over, the Bright Fund immediately mobilised its financial companies to provide a loan of £1 billion.
After getting this loan, A.P. Moller-Maersk rose to prominence.
First, it acquired the Swiss Mediterranean Shipping Company for £240 million, a container shipping company focusing on developing routes between Africa and the Mediterranean.
Then, for £210 million, it acquired Hapag-Lloyd of West Germany, a company formed in 1970 by the merger of the shipping companies Hapag from 1847 and Norddeutscher Lloyd from 1856. The company's business covered southern and northern Europe, North America, Latin America and Asia, and it was also dedicated to container services.
It then acquired the British Iron & Steel Container Transport Group for £170 million and the Dutch Java Group for £150 million.
After completing the acquisition of these four container giants,
AP Moller-Maersk has firmly established itself as the world's dominant container shipping company.
It has 824 container ships, which can transport 452,8430 TEU (standard containers) at the same time.
Based on the original market shares of these five container companies, they together account for 43.2% of the global container shipping market.
Wheelock Shipping has also been making big moves.
First, it spent 920 million US dollars to acquire the Norwegian shipping giant, the Benenson Group, which is the world's largest transporter of liquefied gas and natural gas, with a total fleet capacity of 5.24 million tons.
Then, for a cost of 1 billion Hong Kong dollars, it took over and privatised Hong Kong's Kwong Wah Shipping Company, which has a total fleet capacity of 2.85 million tons.
Add to this the second-hand cargo ships that Wheelock Shipping Company has been buying like crazy.
This has caused Wheelock Shipping Company's total fleet capacity to soar to 15.25 million tons!
Another shipping giant in Hong Kong, Orient Overseas Container Line, is not far behind. It has successively bought some cargo ships at bargain prices, increasing the total carrying capacity of its fleet to 12.8 million tons!
In just over a month.
The global shipping market has suddenly seen the emergence of three shipping companies with a carrying capacity of 10 million tons, and one of them has a carrying capacity of over 20 million tons, which is truly shocking.
AP Moller-Maersk, with a carrying capacity of 22.3 million tons, ranks first in the world!
Wheelock Shipping Company, with a capacity of 15.25 million tons, ranks second in the world!
OOCL, with a capacity of 12.8 million tons, ranks third in the world!
As for the original shipping overlord, the Sanko Steamship Group, its capacity has fallen from the 10 million ton level to only 8.02 million tons, but it is still enough to rank fifth in the world!
Xia Yu has become the undisputed world shipping king behind the scenes!
Such earth-shaking changes in the global shipping market have triggered research in related industries and the financial industry.
The results of the research are largely the same, that is, the global shipping market has hit rock bottom and the market is about to recover!
And on August 3, after the international crude oil price fell to 13.87 US dollars a barrel, it surprisingly rebounded the next day.
And it continued to rise for a week, rising back to 14 US dollars a barrel.
The financial market judged that the international crude oil price had already begun to bottom out, which further revitalised the global shipping market.
However, Xia Yu did not pay attention to the changes in the shipping market.
The four giant shipping giants also had the right people to run them, so he didn't need to worry.
What's more, he didn't have the heart to care.
Because before the bottoming out and rebounding of international crude oil prices, companies around the world that had shorted international crude oil prices had successively completed their harvests, and the list of statistical results had been compiled!
He had become rich again!
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