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Location, location, location

Just as shipowners can spread their risk with some diversity in their fleets, so too can they benefit from a geographical spread of their operating bases.

“The good thing about being in the shipping business is that you can pack up, get on a ship and leave anytime you want.” Thus spoke T.Y.Chao, legendary founder of Hong Kong’s Wah Kwong Shipping to his son George. T.Y. certainly knew what he was speaking of, having brought his young family from the chaos of 1949 Shanghai to start a new life in Hong Kong aboard the steamship Kwok Sing in which he held a 50% share. Uprooting family and business ties when the going gets tough is never an easy decis...

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