The birth of the Hong Kong Island family

August comes in a blink of an eye.

On the 1st, the Hong Kong Polytechnic (Polytechnic) was officially established, taking over the school buildings and staff of the Hong Kong Technical College. Its mission is to offer professional courses and cultivate talents to meet society’s demand for professional talents. Prior to this, the number of full-time, day-time and part-time students in the eight teaching departments of Hong Kong Polytechnic was 1,300, 540 and 7,340 respectively.

Because there are many "craft courses", there are many students studying part-time at night; however, these craft courses are not in line with the development of Hong Kong Polytechnic, so they will all be transferred to a newly established technical college in recent years.

In the following days, the Hong Kong Polytechnic will continue to improve its teaching quality to the level of a college and develop in the direction of a university.

After the establishment of the Hong Kong Polytechnic, Lin Chi-chao stepped down as the "Chairman of the Preparatory Committee", and the next responsibility will be the "Registers Committee" and the "Principal"; the chairman of the "Registers Committee" of the Hong Kong Polytechnic is Chung Shi-yuan, and the principal is Au Wai-tak (English) membership).

On the day of its establishment, the Governor of Hong Kong, Mr Dai Lincheng, the President of the University of Hong Kong, Mr Lok Pin-chun, the Director of the Chinese University of Hong Kong, Mr Kwan Cho-Yuo and the President of the Chinese University of Hong Kong, Mr Lee Cheuk-man, all came to attend.

Even though Hong Kong Polytechnic is just a ‘college’, people from both universities have discovered its growth potential because of Lin Zhichao, the biggest financial backer.

In fact, running a university or college in Hong Kong is a very troublesome matter; for example, a fierce confrontation broke out over the curriculum and educational philosophy of the Chinese University, and the deans of the original three colleges were squeezed out of the core of power because they The idea must be in conflict with the British Hong Kong government. When it comes to matters like schools, the British Hong Kong government is very strict and will never allow elements such as anti-colonialism to appear.

As for Lin Zhichao's donation to the Hong Kong Polytechnic, the British Hong Kong government would be worried about Lin Zhichao's intentions; however, Lin Zhichao did not interfere with the courses at this time because the time was not ripe.

At present, Hong Kong Polytechnic has majors in architectural design, textiles, mechanics, radio, etc. If Lin Zhichao wants to interfere, he must hope to add electronics majors and keep hotel management majors.

Don't worry, Lin Chi-chao will promote these things after Hong Kong Polytechnic gets used to Lin Chi-chao's financial support and becomes stable.

The ceremony was held in the new teaching building supported by Lin Chi-chao. Everyone looked at Hong Kong Governor Sir David Lam and the Governor of Hong Kong, Sir Alex Lam, as if they were surrounded by stars and conversing with each other.

There are not many knights in Hong Kong, and there are even fewer knights who are in full swing. Not to mention that the most important identity of Lin Zhichao is not a knight, but the "World Shipping King" who is extremely influential in the world.

"Sir Lin, I heard that you plan to donate another 5 million to the Hong Kong Polytechnic. I wonder if this is true?" Dai Linzhi said with a smile.

Everyone was also very concerned.

At this time, Hong Kong's wealthy people donated millions, which was rare once a year. Lin Chi-chao, on the other hand, donated 10 million to the establishment of the Hong Kong Polytechnic, which was used to build teaching buildings. Now that it has just been established, he is ready to donate another 5 million Hong Kong dollars. .

Lin Zhichao said with a smile: "It's true! I hope that the Polytechnic will meet the college standards as soon as possible, so I donated 5 million Hong Kong dollars, hoping to help this college."

Principal Ou Huaide immediately expressed his gratitude, and school board chairman Zhong Shiyuan also expressed gratitude.

The trustees and presidents of the University of Hong Kong and the Chinese University immediately looked at Lin Zhichao with envy.

Lin Zhichao turned a blind eye. He also donated HKD 5 million to the University of Hong Kong and built a "Lin Zhichao Building". As for the Chinese University, you can consider it in the future, but it is not the situation today.

For example, with the donation from the Hong Kong Polytechnic, Lin Chi-chao has obtained the naming rights of the ‘Hong Kong Polytechnic Lam Chi-chao Plaza’ and ‘The Hong Kong Polytechnic Lam Chi-chao Teaching Building’.

Quite interesting.

Dai Linzhi asked again: "Sir Lin is so concerned about the growth of the Polytechnic, so which major is he most concerned about? Could it be architectural design?"

This is a temptation!

Of course, Lin Zhichao was not afraid of such groundless speculation, saying: "Many majors in polytechnics will be the talent needs of Hong Kong's future economy. I hope to see polytechnics offer more majors in the future, such as electronic and electrical engineering. These few Hong Kong's electronics industry is in its infancy, but its potential is already huge. There is also hotel management, and Hong Kong's tourism industry is developing rapidly. I have been involved in these industries and want to develop them, but the talent pool in Hong Kong is still weak. I hope it can be improved in the future. So when I donate to support students, I actually hope to get help from more talents in Hong Kong. It is a long-term investment and I am very happy."

For a moment, everyone began to think about Lin Zhichao's words. They discovered that Lin Zhichao, a businessman, was very discerning and worthy of becoming a shipping king.

Dai Linzhi also had to admire him and said: "Hong Kong is really lucky to have people like Mr. Lin in Hong Kong."

"Nowhere, Hong Kong is also my blessed place!"

After chatting for a while, the inauguration ceremony finally came officially.

There were not many students attending this ceremony. After all, school had not started yet. Instead, celebrities came to attend.

Lin Zhichao took the "Pearl of the Orient" flight to Tokyo, and then went straight to Mitsubishi Nagasaki Shipyard to sign a shipbuilding contract.

Global Shipping wants to build 10 226,000-ton oil tankers in Japan. Once the news spread, many shipyards came to negotiate. Although there is no shortage of orders in the Japanese shipbuilding industry at this time, Lin Zhichao's order is really too tempting. The first is the large tonnage, and the second is the great influence of the world's shipping king.

In the end, Lin Zhichao chose three companies - Sasebo, Mitsubishi, and Hitachi. The shipbuilding technologies of these three companies are the best in Japan and they are deeply trusted by Lin Zhichao.

Global Shipping wants to build 10 ships of 226,000 tons, which puts a lot of financial pressure on it. Fortunately, with the strong support of HSBC and the share of the Bank of Japan, it is not like other companies that have difficulty in raising funds.

Global shipping at this time, including the ships that are about to be launched, totals 7.3 million tons, and only 200,000 tons of second-hand ships are left; these second-hand ships are all from the 1940s, mainly the Victory, so they can be used for up to 70 years. Early to mid-1990s.

Therefore, Global Shipping has been completely updated. The new fleet is extremely competitive in the world and has beaten even Greek shipowners.

In terms of "net debt", Global Shipping still has about 60 million US dollars. However, this time the shipbuilding of 10 226,000-ton oil tankers will require an additional debt of about US$200 million, so the debt will increase suddenly.

Of course, Global Shipping's annual profit is nearly 100 million U.S. dollars, making it a complete giant.

Overall, the fleet is worth US$700 million (excluding the 10 VLCCs to be built), has a net debt of US$60 million, and an annual profit of US$100 million. This is an extremely healthy enterprise.

Bao Yugang's debt in his previous life must have been much higher. After all, Lin Zhichao started six years earlier in this life, and his starting capital was more than three times larger.

Kenji Aikawa, the president of Mitsubishi Nagasaki Shipyard, did not expect that Lin Zhichao would shock the entire Japanese shipbuilding industry if he did not take action after only half a year of inspection.

Therefore, his face was full of enthusiasm.

In fact, these Japanese shipyards don't know that after the Suez Canal is closed next year, they will have no time to complete their orders. They usually meet the needs of domestic shipping companies first, and for overseas shipbuilding companies, they all have a sense of choice. It doesn't matter. I really can’t book a boat right away.

It is so popular that the Japanese shipbuilding industry contributes a lot to the Japanese economy.

Of course, with Lin Zhichao's relationship, ordering ships is not difficult.

What's more, he ordered 10 VLCCs in August this year, and will order 8 to 10 more in April and May next year, before the Suez Canal is closed.

In this way, although the debt will be high in a short period of time, it can be paid off almost immediately.

"Mr. Lin, do you have any idea about the delivery date?" Kenji Aikawa asked seriously in the conference room.

Lin Zhichao took the information and the contract, looked at it very carefully, and said: "The four VLCC oil tankers will be delivered in July, August and October next year. Are you sure there are no problems?" he asked rhetorically.

Aikawa Kenji said: "No problem! Because you are the first overseas customer to place a VLCC oil tanker with us, so we attach great importance to it and arrange for completion as soon as possible."

Lin Zhichao nodded. The life of a VLCC ship is only 15 to 20 years, and the return rate is 20 to 25%. However, Lin Zhichao implements long-term leasing, so the return rate is only 20%.

It seems to have reached the minimum standard of international practice. In fact, it is because Hong Kong shipping's seafarers have low wages and operating costs are low. Of course, if Lin Zhichao engages in one-way short-term rental, the return rate may reach 25% per year.

However, despite this operation, there was no shortage of orders from 1967 to 1973, but it was difficult to survive the shipping trough of 1973 to 1974. If Lin Zhichao had implemented long-term leasing, he could have signed a five-year contract for his fleet in 1972. The shipping price was reasonable and the business was large, so it was impossible for the partner not to renew the contract.

"That's no problem! It's a pleasure to cooperate. I will continue to consider cooperation next year. I am very optimistic about the prospects of VLCC."

Kenji Aikawa knew that Lin Zhichao was not giving empty checks anymore, because he would come to Japan every year to build ships. It's just that he is a little confused. Can 10 226,000-ton oil tankers really be rented out?

After all, the load capacity is 2.26 million tons at once, which is a very large business.

As everyone knows, if Lin Zhichao hadn't known that Suez would be closed next year, he would not have dared to build so many. It has developed rapidly in recent years. European, American and Japanese customers are all pressing down on Lin Zhichao's prices because of the large supply.

He has a fleet of 700 million U.S. dollars, with an annual profit of only 100 million U.S. dollars, and a return rate of only 15%. Of course, factors such as interest, cargo ships, and small oil tankers are the reasons for the decline in profit margins. Large oil tankers with 100,000 tons are still profitable. 15~20% return rate. The rate of return in Japan is also slightly lower than that in Europe and the United States, because there is a "tacit understanding between the three parties" and the price cannot be high.

After half a year of inspection, Lin Zhichao finally signed the Wan Shipbuilding Contract.

A 226,000-ton oil tanker costs US$20.5 million.

The cost of a 50,000-ton oil tanker has reached as high as 6.5 to 7 million US dollars (Japan).

Because the steel required for a 226,000-ton oil tanker can only be used to build three 56,000-ton oil tankers, which is still slightly insufficient.

If you save steel, you will save a lot of costs.

Overall, the cost is pretty good!

A 200,000-ton cargo ship in later generations will cost 60 to 80 million US dollars to build; oil tankers are even more expensive, and LNG steamships are even more expensive because the technology is more expensive.

But in terms of freight, the freight in the 21st century is only at the level of the 1970s and 1980s, or even lower. Therefore, the natural return rate of shipping is also very low, and there may even be insufficient operating expenses.

Not surprisingly, the average shipping return rate from 1967 to 1973 will be as high as more than 30%; in previous years, it may have been as high as more than 35%, and even in the first half of 1973, it was about 25%.

After signing the contract, the two parties continued to talk.

During this period, Lin Zhichao asked: "I have a batch of Victory ships produced in the United States, which I plan to convert into container carriers. I wonder if your shipyard can convert them?"

Container transportation has entered Europe, and it is time for Lin Zhichao to prepare for a rainy day. What's more, he can also take European routes because he can register in the UK.

After thinking for a while, Aikawa Kenji said: "The deck and cargo hold of the Victory Ship itself are very large, which is very suitable for modification. However, the center of gravity of the bottom of the container ship is the key, and the Victory Ship is just not enough. If Mr. Lin wants to modify it, we can arrange engineers to do it. After inspection and research, I believe it’s not a big problem.”

Lin Zhichao understands technology very well, so he expressed his own opinions. The main thing is to add weight to the bottom chamber to maintain balance.

Finally, he said: "This matter is not urgent, but we can communicate the plan first."

Although the business is small, Lin Zhichao takes the opportunity to enter container transportation, so he attaches great importance to it.

"No problem, we will arrange it!"

The two sides had a great conversation, and Aikawa Kenji also asked Lin Zhichao about shipping prospects, oil tanker prospects, and even related technical issues. Lin Zhichao is also very talkative. Although he has not revealed any core secrets, his optimistic view on shipping has not changed.

In late August, Lin Zhichao sent his two sons to high schools in London and Vancouver respectively. His second son, Lin Ruijiang, went to Vancouver to study, and his third son (born by Xu Caiying) Lin Ruihai went to London to study.

They all arranged homestays, and it was arranged by Lin Zhichao himself. It was Lin Zhichao's idea of ​​​​taking care of his family as much as possible after work.

It’s already September when I return to Hong Kong.

On this day, Lin Zhichao's father-in-law and his family came to visit No. 79 Deep Water Bay. Since both of Lin Zhichao's wives were his daughters, they did not shy away from Tang Zhongyuan's family coming to their home. In the past, they would even invite his father-in-law and mother-in-law to live with him until they settled down in Deep Water Bay. I have never lived at home.

Lin Zhichao has been thinking that even if only Tang Caiyun is Lin Zhichao's wife, he will not help his father-in-law too much. It is precisely because of Xu Caiying that he is grateful. It is not that Xu Caiying has a higher status than Tang Caiyun, but it is more difficult to marry two sisters.

"Zhichao, I recently acquired two properties and plan to diversify development." Tang Zhongyuan said with a smile.

There was some confidence in his words and he did not mean to ask for advice. This showed that he had sufficient funds and had already achieved something in his career. In fact, since his eldest son Tang Xianqian graduated from university, Tang Zhongyuan has rarely asked Lin Zhichao about business matters; Lin Zhichao will not participate in his career, and the occasional conversations are just normal exchanges.

After all, Tang Zhongyuan no longer needs his help. He is already a Hong Kong industrial tycoon, a king of ready-made garments, and a king of African textiles. His achievements are no less than that of Tang Bingyuan, and even much more than that of Tang Bingyuan. Because the added value of the garment industry is higher than that of the textile industry, Tang Zhongyuan's achievements in Nigeria have given him great influence.

Lin Zhichao asked curiously: "What kind of properties did my father-in-law buy?"

Tang Zhongyuan immediately said: "A commercial building under construction in Tsim Sha Tsui, Kowloon, and a piece of land in North Point cost almost 15 million Hong Kong dollars." After finishing speaking, he couldn't help but look at Lin Zhichao.

It seems to be saying, how about this bargain hunting?

I still can't help but want to hear my son-in-law's opinion. After all, he is the one who truly has a long-term perspective.

Lin Zhichao said: "If you buy a property this year, it will be 40 to 50% cheaper than at the end of 1964, but the situation is not very good. Father-in-law, don't forget, will the situation in the mainland affect Hong Kong? Of course, at this time, father-in-law You won’t lose money if you buy at the bottom, just make long-term plans!”

Tang Zhongyuan was stunned. He didn't expect his son-in-law to think so long-term. He immediately asked for advice: "Will the situation in the mainland really affect Hong Kong?"

Lin Zhichao shook his head and said: "I'm not sure, but I think Britain is stronger and will definitely keep Hong Kong."

Tang Zhongyuan immediately felt relieved. After all, if they return at this time, they capitalists will have only one fate, and that is to abandon everything in Hong Kong and run away.

"It's okay, 15 million is not too expensive, I'm happy with it!"

Lin Zhichao nodded and said: "My father-in-law has sufficient funds, so of course there will be no problem!"

Tang Zhongyuan earns so much every year, and there is no problem with cash flow of tens of millions.

Later, Tang Zhongyuan asked: "How is Vancouver, Canada?"

As a rich man, how could he not be prepared for both things? Tang Zhongyuan also invested in factories in Southeast Asia and purchased properties in the UK. Although the proportions were very small, they were all second-hand. Especially the dozen or so factories in Nigeria are estimated to be worth tens of millions.

"Very good! Canada has always been open to wealthy people and technical talents, and Vancouver is the first choice place for us Chinese to immigrate. You only need to invest 250,000 Canadian dollars (1 Canadian dollar is approximately equal to 1 US dollar) for three years to immigrate. Father-in-law Any ideas?"

Weng and son-in-law talk about everything!

After Tang Zhongyuan thought for a while, he said: "I am still optimistic about the development of Hong Kong! However, I still plan to make two preparations. I will go to Vancouver to inspect and purchase some properties later. What, you plan to let my grandson immigrate?"

Lin Zhichao smiled and said: "Ruijiang! But the reason why I asked him to immigrate is not because I am not optimistic about Hong Kong, but because I plan to invest in Canada in the future. It will be more convenient to have a Canadian son."

In fact, Lin Zhichao is not necessarily doing it for investment, but he hopes that his seven sons can be American, British, Canadian, Australian, Hong Kong, and Singaporean. It is enough to keep two Hong Kong citizens. In fact, everyone holds dual citizenships. The two sons of Hong Kong citizens just do not become foreign nationals.

But no matter which nationality he joins, Lin Zhichao warned his children to always regard themselves as Chinese!

Except for his two mixed-race sons, he did not tell them this sentence.