The Tung family founded the Hong Kong shipping empire, Orient Overseas. Established by Tung Chao-yung in 1947, Orient Overseas had more than 330 offices in 70 countries at the time of its sale to the China shipping company COSCO in 2018.
After years of working in Asia’s shipping sector, Chao-yung created China’s first international merchant fleet, which would later offer regular cargo and passenger services as the Orient Overseas Line.
At the time of his death in 1982, the Tung fleet consisted of 140 ships, including the world’s largest tanker, Seawise Giant. An advocate for education, Chao-yung bought the RMS Queen Elizabeth ocean liner in 1970 to use as a floating university.
Chao-yung’s eldest son, Tung Chee Hwa, ran Orient Overseas for 14 years before stepping away to become Hong Kong’s first chief executive in 1997. His younger brother, Tung Chee Chen, ran the family business until its sale to COSCO shipping lines, a deal that pocketed $4.34 billion for each of the Tung brothers.
Orient Overseas is now known as Orient Overseas Container Line (OOCL).
