Evergreen chairman Chang named news maker of the year

EVERGREEN Group chairman Chang Yung-fa has been named newsmaker of the year at an awards ceremony in Singapore.

"Dr Chang is a trendsetter whose statements are always interesting, prudent and frequently serve as a check on the excesses of the shipping industry," said Tom Leander, editor of Lloyd's List, sponsor of the award.

Dr Chang made news for going against conventional wisdom. When the shipping industry was booming before the financial crisis, he refused to follow other carriers in ordering new ships, fearing overcapacity.

Evergreen has since ordered 100 containerships for US$5 billion with the first to be delivered in 2013, making Evergreen the first carrier to place substantial orders after the global recession.

Besides, the Lloyd's List Asia Award for lifetime achievement went to Arun Mehta, the founding managing director of Varun Shipping and one of India's leading private shipping companies.

Mr Mehta was selected for his contribution to the development of his company and of the Indian shipping industry, especially for furthering deregulation.
(Source:www.schednet.com)