Thor Nexus: Chang Yun Chung bulker hijacked
Chang Yun Chung, 92, Chairman, PIL
Teo Siong Seng, 54 managing director of Pacific International Lines
Bulk Carrier Thor Nexus, Thai-flag, destined for Bangladesh out of U.A.E hijacked 350 nautical east of Salala Dec 25. earlier
Thor Nexus - IMO 8712491
Call Sign: HSDJ2
Gross tonnage: 15,520
Deadweight: 20,000 t
181.51 x 23.06 x 10.07 m
Gear: C-1-40,C-3-25,D-1-12; Teu: 1,128; Passengers: 10
Speed: 16.0 kn
Build: Warnow Werft, 1989.
Ex Name: Bellavia, Seaboard Valparaiso (2002).
Ship manager: Pacific International Lines
Pacific International Lines (PIL) incorporated in 1967 has developed from a coastal ship-owner/operator in Singapore to become one of the largest shipowners in Asia. Today, it is ranked 19th amongst the top containership operators in the world. PIL has diversified into logistics related activities such as supply chain management, consolidation/distribution facilities, warehousing, container depot operations, trucking as well as having interest in ship-agencies worldwide, container manufacturing, marine engineering and real estate.
As of November 2007, PIL owns and operates a fleet of 106 vessels with a total TEU capacity of about 165, 272 TEUs. 32 new container vessels with a total capacity of 89, 064 TEUs will be delivered by March 2011. PIL also owns and operates a fleet of more than 334, 554 TEUs of marine containers.
Singapore's 40 Richest
#15 Chang Yun Chung
Net Worth: $670 million
Marital Status: Married, 14 children
Pacific International Lines, which he founded with friends in 1967, owns 123 vessels and is among the top 20 shipping companies in the world. Fortune rising on renewed demand for container ships and jump in freight rates. Its ship Kota Wajar was hijacked in the Indian Ocean last October by Somali pirates and held for more than 2 months before ship and crew were released. Son Teo Siong Seng, 55, who runs daily operations and heads Hong Kong-listed subsidiary Singamas Container Holdings, still refers to his father as "Chairman."
[Fortune up] Public fortunes were calculated using share prices and exchange rates as of Aug. 7, 2010. For privately held assets we estimated what they would be worth if public. Fortunes held by more than one person are denoted with \"& family.\"