Singaporean shipowner Chang Yung Chung (YC Chang), the founder of Pacific International Lines (PIL), has died at the age of 102.
His family said that he died peacefully in his sleep.
Chang incorporated PIL in in 1967 as a shipowner and operator in the coastal trades.
Alphaliner now ranks PIL as the 10th largest container liner company by total capacity. It controls more than 100 vessels, of which 61 are owned and 46 are chartered.
“He turned the small coastal operator with only two ships into a company we are so proud of today,” said SS Teo, who is Chang's son and managing director of Singapore-based PIL.
“His tremendous wisdom and steady hands were born of struggle in his youth. His guidance and kindness will be deeply missed by all of us.”
Born in 1918, Chang graduated from Xiamen Datung College in China. He started his shipping career in Singapore in 1949, working for another company for 18 years before striking out on his own.
Chang spent 50 years at PIL before standing down as chairman of PIL two years ago. At that time, he also retired from the PIL board but remained as chairman emeritus and continued to advise the board in certain strategic area.
Shipping players described Chang as a hands-on person and a humble man.
“At the age of 100, he was still very active and went to the office everyday, not only for PIL business activities but also to touch base with what was happening in the industry,” said one Singapore-based shipping source.
In 2018, Chang was revealed as the world's oldest billionaire at the age of 100.
