The company, which was established in 1952 by Chao Tsong-yea, had been listed in Hong Kong in 1973, but after a period of share price weakness, was delisted and taken private in 2000.
Wah Kwong Shipping has 12 vessels, comprising handymax, panamax and capsize bulk carriers and Very Large Crude Carriers (VLCC), with an average age of less than three years. It also has a plan to build 19 new vessels.