Bao Yugang, from scratch to the world ship king

Early life

Bao Yugang was born in October 1918 in Zhongbao Village, Haizhuang Township, Ningbo, Zhejiang.

In 1945, he became the manager and deputy general manager of the sales department of the Bank of Shanghai.

In 1948, he moved to Hong Kong. Since then, he has engaged in import and export trade with the mainland.

From 0 to 1

In 1955, the first British-built ship was bought and the Global Shipping Company was founded.

The Bao family began to raise funds from relatives and friends, and finally scraped together enough for 200,000 pounds. With £200,000 in cash, Bao Yugang shopped around in London and bought a 27-year-old coal-burning ship with a load of 8,700 tons built in the 20s from williamson and named it "Jin'an".

Bao Yugang said that the name symbolizes his vision and conception of running the shipping industry: the word "gold" means to make money, and the word "An" means to win steadily.

However, the first charter of the "Jin'an" was a "long lease", and the lease period was 9 months, and Bao Yugang's approach was immediately ridiculed by the industry - they all ridiculed him as a "layman" and "a fledgling little fool"!

　　Many people are laughing at this child who does not measure up and does not understand the rules, but Bao Yugang has his own plans, and he once said to people: "My motto is, I would rather make less money than take risks." "What he seeks is a long-term and stable income, which is a way of doing business with an eye to the future." Short-term rentals take a certain amount of risk. In fact, it was this steady and steady way that made Bao Yugang different from other ship owners, and finally sat on the throne of the world ship king.

From 1 to 2

In 1956, war broke out in the Middle East. Egypt closed the Suez Canal, the backlog of goods was serious, international freight rates soared, and the "Jin'an" just expired its lease term, so it renewed the lease at a much higher lease fee, and Bao Yugang used the money to buy an old ship.

From 2 to World Ship King

By 1957, after only 2 years of shipping, Bao Yugang was already the owner of 7 ships.

In March 1976, Newsweek published his photo on the cover with the title of King of the Sea, and since then Bao Yugang has officially won the reputation of Ship King. In 1981, Bao Yugang had more than 200 ships, with a total tonnage of 21 million tons, which was larger than the total tonnage of the fleets of the United States and the former Soviet Union, and became a veritable world ship king.

At this time, it was only 25 years since he first started in the shipping industry. 25 years, from 1 ship, 0.87 million tons, to 200 ships 21 million tons. The load capacity has been increased by 2400 times.

Land and sea go hand in hand

By the 1980s, Pao had gradually reduced his fleet from 200 to 96.

Meanwhile, with the help of Li Ka-shing, Pao took control of Wharf shares. Successful transformation. Wharf is still a Hong Kong listed company.

Bao Yugang's round-the-world shipping is managed by his foreign son-in-law, Su Haiwen.

On February 26, 2020, the Su Haiwen family ranked 626th in the "2020 Shimao Shenzhen-Hong Kong International Center Hurun Global Rich List" with a wealth of 29 billion yuan.

0-1-2-N

Wealth growth, just this one model.

Buffett, slowly hoarding equity in various companies.

Bao Yugang slowly hoarded 200 ships.

The most important thing is how to go from 0 to 1, how to go from 1 to 2.

After that, it's just a steady cycle.