A century-old wealthy family that rose from Shanghai

In early summer in Osaka, Japan, the sea breeze carries the rusty scent unique to industrial ports, blowing across the docks of the Mitsubishi Heavy Industries shipyard.

In early May 1969, the place was decorated with great pomp and circumstance—colorful ribbons wrapped around the giant gantry crane, a traditional Japanese taiko drum band played on the side, and ceremonial staff in kimonos held flowers, their eyes focused on the all-black giant ship in the dock.

This is the last of the second batch of VLCCs (Very Large Crude Carriers) from Global Shipping. It is named "Dongxing" and the words "22.7 tons" on the side of the ship are particularly eye-catching in the sunlight.

Chen Guangliang stood in the center of the viewing platform, wearing a custom-made dark gray suit.

He looked at the hull of the "Dongxing" ship with a calm yet powerful gaze, as if he were examining a meticulously crafted work of art.

Beside him, Masao Yamaguchi, president of Yamaguchi Shipping, held a wine glass, his tone full of admiration: "Mr. Chen, you have truly mastered the art of 'timing.' While the Suez Canal was closed for two years and shipowners around the world were still observing, you had already expanded the VLCC fleet of Global Shipping to 30 vessels, with a total tonnage of nearly 650 million tons launched in just over two years. You can't find anyone else in the world with such boldness."

Chen Guangliang smiled and clinked glasses with him, the champagne bubbles rising in the glass: "Mr. Yamaguchi, you flatter me. I just have a bit more 'daring' courage than others. On the day the canal closed in 1967, I judged that this blockade would not be short-lived—the conflict between Egypt and Israel was deeply rooted and could not be resolved in less than three to five years, while global oil demand was rising every year, and oil tankers would only be in short supply."

These words may seem casual, but behind them lies accurate prediction and decisive planning.

In June 1967, the Suez Canal was closed due to the Third Middle East War, forcing global crude oil shipping routes to detour around the Cape of Good Hope, increasing the voyage by 5000 nautical miles and causing a sharp drop in tanker turnover. At the time, most shipowners were worried that the canal might reopen at any time and dared not place large orders for ships. However, Chen Guangliang defied the majority opinion and, together with the Development Bank of Japan and Sumitomo Bank, invested heavily to order 6.5 million tons of VLCCs from shipyards such as Mitsubishi and Kawasaki, thus seizing the market gap during the "ship shortage".

At this moment, as the host announced, Japanese female sociologist Fusae Ichikawa (invited as the guest for the "bottle-breaking ceremony") walked to the bow of the ship holding a champagne bottle tied with a ribbon. With a "bang," the bottle hit the ship's crash pad, shattering glass and champagne splashing everywhere, accompanied by enthusiastic applause and cheers.

The "Dongxing" slowly glided into Osaka Bay under the tugboat's towing. The black hull rippled in the azure water, like a "sea monster" awakening.

The charter for the "Dongxing" had already been finalized—Yamaguchi Shipping signed a five-year long-term charter agreement at a very good price to use it for crude oil transportation from the Middle East to Japan.

As Masao Yamaguchi watched the ship sail away, he remarked, "Now Japanese shipping companies are all learning from us. Instead of building their own ships and taking on the risks, they should charter VLCCs from Worldwide Shipping for a long term. Your fleet is not only large in tonnage and has low operating costs, but more importantly, it is professional and safer than our own ships."

Upon hearing this, Chen Guangliang turned his gaze to the distance—there, 25 VLCCs being built for Global Shipping were under construction.

He knew that the Japanese shipping companies' "retreat" was just the beginning of global shipping reshaping the global shipping landscape.

In Europe, Greek shipowners are in a state of anxiety: Global Shipping has snatched crude oil transportation orders from giants such as Esso, Texaco, Shell, and BP with its strategy of "lower charter rates and longer payment terms." The Athens Shipowners Association even held an emergency meeting, calling for "a boycott of the low-price competition from Chinese fleets."
In the United States, Worldwide Shipping's ships are registered under "flags of convenience" such as Liberia and Panama, cleverly circumventing U.S. restrictions on foreign fleets. They lease tankers to companies like Exxon and Mobil, becoming an "invisible pillar of shipping capacity" for U.S. crude oil imports.

A week after the launch of the "Dongxing", a headline in The New York Times brought Global Shipping into the global spotlight: "Global Shipping's tonnage surpasses that of the Soviet Union, and the Chinese shipping magnate controls half of the 'floating oil depot'".

The charts accompanying the report clearly show that, as of May 1969, the total shipping capacity of the world reached 12 million tons, of which oil tankers accounted for nearly 10 million tons. This not only exceeded the 11 million tons of the Soviet merchant fleet, but also reached 57% of the tonnage of the US "commercial operator ships" (21 million tons).

"If we only consider oil tankers, Global Shipping's capacity accounts for 30% of the world's total oil tanker tonnage, which is much more than the total oil tanker capacity of Greece."

The report stated, "What is even more noteworthy is that most of the company's ships are operated under 'long-term leases': tankers leased to Japanese companies are counted in Japanese merchant ship tonnage; those leased to European companies are included in European shipping statistics, and their 'hidden capacity' far exceeds the figures on paper."

Once the news was released, it was widely reprinted by media outlets around the world.

Hong Kong's Oriental Daily News published an article titled "A Shining Star for the Chinese: Chen Guangliang and His Maritime Empire," which detailed his journey from restarting his fleet in 1945 to becoming the "world's third largest shipping force" in 1969.

The Financial Times of the UK analyzed: "The rise of global shipping has broken the monopoly of Greece, Japan, the United States and the United Kingdom on global shipping. In the next decade, the pricing power of global crude oil transportation may be in the hands of this Chinese shipping magnate."

In the office of Global Shipping's Hong Kong headquarters, Chen Wenjin, holding a newspaper, excitedly told her father, "The global shipping industry is talking about us now. Even the President of Panama sent a congratulatory telegram, hoping that we can register more ships in Panama."

Chen Guangliang appeared unusually calm. Pointing to the Middle East, Europe, and America shipping routes on the map, he said, "1200 million tons is just the beginning. My goal is 2000 million tons. Once those VLCCs under construction are delivered, we will be able to approach the commercial shipping capacity of the United States. Only then can we truly control the 'lifeline' of crude oil transportation."

He knew perfectly well that behind the media's praise lay even fiercer competition and more complex power struggles.

Greek shipowners have begun to unite with European banks and plan to spend $1 million on shipbuilding in an attempt to win back lost orders.

But all of this was within his expectations—the shipping industry is a battlefield where "tonnage is king," and as long as he continues to expand his capacity and maintains his technological and cost advantages, he can firmly maintain the initiative.

Just three days after The New York Times published its report, Chen Guangliang received a special invitation—the White House invited him to visit Washington in early June to meet with President Nixon, who had only been in office for four months. The invitation, personally signed by Secretary of State Rogers, conveyed a strong sense of importance: "Given the important position of Worldwide Shipping in the global shipping industry and its crucial role in international energy transportation, the President wishes to exchange views with you on 'Global Shipping Security and Energy Cooperation'."

Chen Guangliang looked at the invitation and immediately understood its deeper meaning.

At this time, the Cold War between the United States and the Soviet Union was in a "white-hot" stage. Although the United States controlled 27 million tons of "total shipping tonnage" (including reserve fleets and "flag of convenience" vessels), the tonnage of merchant ships flying the American flag decreased by 500,000 tons per year starting in the 1960s, which led to a continuous weakening of its "directly controllable shipping power".

Meanwhile, the Soviet Union, with its 1100 million-ton merchant fleet, continuously strengthened its control over energy transportation in Eastern Europe and Africa, and even introduced inland waterway transportation of oil, in an attempt to suppress the United States in the "Cold War shipping race".

"The United States needs our fleet to fill their 'capacity gap'."

Chen Guangliang explained to Chen Wenjin, “Merchant ships are not only transportation tools, but can also be converted into ‘temporary transport ships’ during wartime to transport troops and supplies. Nixon approached me ostensibly for ‘energy cooperation,’ but in reality, he wanted to tie global shipping to the US ‘strategic war machine,’ so that our oil tankers could serve US overseas military operations in times of emergency.” At the end of May, Chen Guangliang arrived in Washington by plane.

In the Oval Office of the White House, Nixon, dressed in a dark suit, stepped forward to shake hands with him: "Mr. Chen, it's a pleasure to meet you. Your world shipping business has solved a major concern for the United States."

After exchanging pleasantries, Nixon got straight to the point: "The United States hopes to sign a 'strategic leasing agreement' with Worldwide Shipping—we will lease five VLCCs at preferential prices for long-term use for energy transportation between the United States and Europe and the Middle East. In return, the U.S. government will provide you with 'shipping security guarantees' and coordinate with companies such as Exxon and Mobil to give you priority in signing transportation contracts."

Chen Guangliang had a plan in mind. He calmly responded, "Mr. President, Global Shipping is a commercial company, and we are willing to provide stable shipping services to the United States. However, 'strategic leasing' needs clear boundaries—the daily operation of the ships remains under our control, and they cannot be used for purely military transport. In addition, if the United States can relax restrictions on 'flag of convenience' vessels and allow some of Global Shipping's ships to enjoy 'priority berthing' treatment in U.S. ports, we can expand the leasing scale to seven ships."

He knew he had to find a balance between "cooperation" and "independence." Accepting the US's "strategic entanglement" would secure stable orders and policy support, and prevent being placed on the US "shipping restriction list"; but excessive dependence would mean losing control of the fleet and even being drawn into the vortex of the US-Soviet Cold War.

Therefore, he proposed the principle of "commercial priority and limited cooperation," which both gave Nixon a way to "strategically support" and protected the commercial bottom line of global shipping.

Nixon pondered for a moment, then nodded in agreement: "Yes, we will have the Department of Transportation draft the details of the agreement as soon as possible. I believe this will be a model of cooperation between Chinese Americans and Chinese businesses."

After the meeting, Chen Guangliang stood on the South Lawn of the White House, looking at the Washington Monument in the distance, and was filled with emotion—in the shipping industry, one inevitably has to get involved in politics.

Fortunately, during Nixon's term, the United States and China will improve relations, and the United States' enemy will remain the Soviet Union.

Later, at his villa on Long Island, New York, Chen Guangliang held a gathering with members of his second wife's family.

Chen Guangliang and Jiang Meiying, Chen Wenjin and Kelly and their four children, Chen Leyi and Tang Wensheng and their one child, Chen Wenhua and Alice and their one child, and Chen Wenhai, who is only 17 years old this year.

Everyone held a banquet on the grass, getting along very well and harmoniously. The two foreign daughters-in-law were even more traditional than the Chinese, and even had names that followed their husbands' surnames.

"I heard that you're asking about the progress of the research and development of that phosphodiesterase inhibitor?" Chen Guangliang asked directly.

Although it was a gathering, he valued his time and did not want to instruct future generations on their careers.

Before Tang Wensheng could answer, Chen Leyi interrupted, complaining, "Father, in two years, this new drug has already cost 4000 million US dollars, and the crucial point is that it hasn't even entered clinical trials yet. Compared to those large pharmaceutical companies, we can only be considered a novice!"

Chen Guangliang said, "Don't worry about it too much. You can start using it once the new drug comes out!"

Chen Leyi was speechless. Tang Wensheng, who was standing next to her, immediately said, "Father-in-law, we expect to enter clinical trials in the second half of the year. I will definitely report the progress to you then."

Chen Leyi looked at Tang Wensheng in surprise, because she had no idea that things had progressed to this point.

Upon hearing this, Tang quickly replied, "As expected."

Chen Guangliang waved his hand and said, "The research and development time is quite fast, and the funding is reasonable. It's worthwhile."

In the early to mid-1990s in my previous life, Pfizer invested hundreds of millions of dollars and spent three years developing the drug before it entered clinical trials. However, the clinical trials were not ideal, and when they went to collect the drugs, they found that some people were unwilling to hand them over, which revealed the truth behind the situation.

Tang Wensheng immediately replied, "Indeed, the reason why the research and development time was so fast is that we clearly defined our research and development direction from the beginning—to focus on developing several phosphodiesterase inhibitors. In addition, the research and development funding of 4000 million US dollars is comparable to the investment of large pharmaceutical companies, so we recruited many biological PhDs and experts to work together."

He wanted to say that if you hadn't mentioned the effectiveness of 'several phosphodiesterase inhibitors' on cardiovascular patients, which clarified their research direction, it would probably have taken three years to achieve such results. However, Tang Wensheng wasn't stupid; he knew his father-in-law didn't like to expose more details.

Chen Guangliang said, "It's worth it. Let alone 4000 million US dollars, even 8000 million US dollars is worth investing in."

To the outside world, Tang Wensheng and his team claimed to be developing phosphodiesterase inhibitors for cardiovascular patients, but only Tang Wensheng knew that what they were developing was sildenafil.

If it enters clinical trials in the second half of the year, sildenafil is unlikely to be available in the short term; it may take another three years before it becomes available.

Chen Guangliang doesn't need it anyway, and what's bothering him now is that sometimes even one woman can't satisfy his appetite!
Later, Chen Wenhua also took the opportunity to report: "Dad, the glue for the sticky notes has been sorted out, and production can begin in the second half of the year! Of course, the stock market has also been cleared out. Last month (5), the US stock market did indeed fall, and even Warren Buffett of Wall Street announced his 'retirement' and dissolved his fund."

Chen Guangliang nodded and said, "I understand. This wave of US stock market correction will be around 30%, so we need to stay calm."

Kelly had become accustomed to her father-in-law's commands, while the new daughter-in-law, Alice, gradually came to realize her father-in-law's supreme status in the family. At the same time, both daughters-in-law discovered a problem: they didn't feel any resentment towards their father-in-law for having four wives; instead, they felt admiration and respect for him.

Why is it worship?
When they met the members of the Chen family, they were struck by their remarkable unity. In their husbands' hearts, the family always came first, and their own little family came second.

They tried to refute this idea, but their husband said, "Without the family, this little family wouldn't exist, and they wouldn't be united. Only when the family prospers will their little family prosper; more importantly, family unity is not only the principle of unity for their generation, but also for the third, fourth, and fifth generations of the Chen family, and it is proof that unity brings strength."

In this way, these outsider brides quickly integrated into the family, considering themselves members, learning to unite, and adopting a mindset of putting the Chen family first. (End of Chapter)