Andy Tung steps down as co-CEO at OOCL

Andy Tung steps down as co-CEO at OOCL

Andy Tung announced on Friday he is stepping down as co-chief executive at OOCL at the end of this month, handing over the reins at the Hong Kong-based liner to his Cosco Shipping colleague Yang Zhijian.

The Tung family sold the liner business to state-owned Cosco last year for $6.3bn. Since then, the Tungs have been active developing their bulk fleet at privately held Island Navigation.

Tung will remain on the board at OOCL. Cosco executives stressed when taking over the line last year that they intended to maintain the OOCL brand.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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1 Comment

  1. Avatar
    Bruce Coatta
    December 17, 2019 at 12:22 am

    Another page turned in the world of containerization … the early days of EARLS Spreaders were very much involved with the Vancouver BC operations of the OOIL/OOCL Empire Stevedoring company, which rebranded as TSI Terminal Systems Inc around the time that Deltaport was being developed in the 1990’s before becoming todays, GCT Global Container Terminals … interestingly, GCT-DP will be approaching 30-million TEU’s handled since opening for business in 1996/97 to the coming 2020 New Year … 100% handled by EARLS Spreaders …