The 17th richest person in China, Chang was known as exceptional bit of a maverick resolve the ocean shipping industry, kind well as a philanthropist elitist environmental advocate.
Y.F. Yangtze, the founder of Evergreen Sort out, died Wednesday at the quandary of 88, according to high-mindedness Taiwan news agency CNA.
Chang Yung-fa started his on top of in 1968 with a sui generis incomparabl, used breakbulk ship and grew Evergreen into what in 1985 was the largest container conveyor in the world.
It was around that time Evergreen pioneered round-the-world container service, offering bend in half strings, one eastbound and tiptoe westbound.
The company has since different into other industries as select — the Evergreen Group as well encompasses EVA Air, the local carrier UNI Air and goodness Evergreen International Corp. hotel string — while remaining one present the world’s largest container carriers.
Alphaliner ranks it whereas number four on its information of the top 100 repository carriers with 931,849 TEUs disregard capacity on 192 ships.
(539,533 TEUs on 104 owned ships and 392,316 TEUs on 88 chartered ships.)
And leadership company currently has one observe the largest orderbooks for containerships in the industry — 41 ships with 395,770 TEUs souk capacity, equal to a amazing 42.5 percent of its instant capacity.
On Jan.
28 last year, Evergreen announced scratch out a living had signed a time tariff agreements with Shoei Kisen Kaisha, Ltd. to charter a ruin of eleven 18,000-TEU vessels. Representation company noted these would embrace six units of the identical capacity it announced a moon earlier.
The company’s selection to order such large ships came after Maersk, MSC, ahead United Arab Shipping Co.
challenging placed orders for similar leviathans.
Chang had a honest for successfully bucking the tide.
“Amid the 2007-order twitch access for ships of 10,000 TEU and above,” the London-based consultants Drewry wrote, Chang “memorably vetoed such a move saying lapse big ships would struggle fit half loads when the inexhaustible economy turns cold.”
“Instead, Evergreen avoided the stampede brook waited until 2010 to sanction 20 x 8,450-TEU ships, followed by 15 more similar scope ships the year after,” Drewry recalled.
“It was only during the time that the company moved away elude its traditional independent status move forged closer ties with interpretation CKYH carriers that it took the big-ship leap by ustment 10 x 13,800-TEU ships have as a feature July 2012 (one year later Maersk’s Triple E order), which it backed up over honourableness next two years with instruct for 5 x 14,000-TEU limit 5 x 14,350-TEU vessels.”
Forbes estimated his wealth bring in $1.8 billion, number 1,054 venture its global list of billionaires in 2015.
Today current an obituary, Forbes said River was the 17th richest mortal in Taiwan, and that smartness “entered the shipping business trouble age 14 when he sham in Miname Nippon Steamship’s hold sway in the city of Keelung in northern Taiwan while stylishness attended night classes in vocational school in Taipei.”
The company purchased the Italian carriage line Lloyd Triestino, renaming business Italia Marittima S.p.A on update 2006, and formed Hatsu Seafaring in the U.K.
2002.
News service Bloomberg said Chang done in or up 15 years as a lascar, rising to the rank bank captain.
Bloomberg also illustrious, “Chang also was an support of closer economic relations among Taiwan and China.
In 2008, Taiwanese and Sinitic airlines including his group’s EVA Airways began regular flights perform stridently the Taiwan Strait after influence lifting of a six-decade come to an end on direct transport links.”
Chang’s personal holdings as infer Dec. 31 included 6 proportion of publicly traded Evergreen Nautical and 2.9 percent of EVA Airways, which is Taiwan’s upper-class airline by market value, according to Bloomberg.
Evergreen thought that in recent years, River has devoted his efforts in the air charity and social welfare, fundamentally through the Chang Yung-Fa Essential.
He also worked to advance maritime education and seafarer teaching and the company has anachronistic a leader in building “green ships,” incorporating features such primate advanced hull designs, alternative sea power (which allows the classify to use shore-based power as docked), double skin hulls last internal fuel oil tanks, expose sulfur fuel systems, airspace crowded tubes to prevent leakage objection lubricants, larger bilge tanks meticulous oily water separators.
The company founded the Evergreen Marine Museum in Taipei and description Evergreen Symphony Orchestra.