C.Y. Tung Shipping Magnate
C.Y. Tung, who controlled one of the world’s largest shipping fleets, died Thursday of a heart attack. He was 71 years old.
Mr Tung, a citizen of Taiwan who was based in Hong Kong, built a fleet of tankers, passenger ships, bulk carriers and container vessels – more than 150 sips with a tonnage of about 11 million tons, nearly double the tonnage of the fleet owned by the Greek shipping magnate Aristotle Onassis.
Formerly a shipping clerk in Tianjin, China, Mr Tung moved to the bustling port of Shanghai, where he began his shipping empire with a small tramp steamer. He fled China in 1949 with the Communist takeover and moved to Hong Kong, where his many firms prospered. (1)
Sources:
- The New York Times 17th April 1982