1949 to 1960s: Building the Maritime Business

Mar 2024

Frank Tsao Wen-King, the third generation of the Tsao family, expanded their family business into the maritime industry from their new base in Hong Kong, China. Here are some notable events that took place under his leadership:

  • In 1966, International Maritime Carriers Ltd was founded to own and operate general cargo vessels. The company was later renamed IMC and is now the mother company of IMC Industrial Group.
  • In 1957, the Hong Kong Shipowners Association was formed with eleven charter members, laying the foundation for Asian shipowners.
  • In 1950, Frank Tsao Wen-King bought the Eastern Trader, another ocean-going vessel with a deadweight tonnage of 3660, solidifying their position as one of the first Asian shipowners. Frank Tsao later became known as one of the four Shipping Kings in Hong Kong, China.
  • In 1949, the family purchased their first ocean-going ship, the Ebonol, which had a deadweight tonnage 1200. This purchase established their shipping enterprise, Great Southern Steamship Co. Ltd.