Word: pao
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Dates: during 1970-1979
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Everyone knows who are the world's biggest, cleverest and richest shipowners. They are the Golden Greeks, led by those indefatigable headliners, Ari Onassis and Stavros Niarchos-right? Maybe, but someone is right in the same league. A scarcely known shipowner from Hong Kong named Y.K. Pao may soon become the largest of them...
Beginning in 1955 with an aging tramp steamer, Pao has built a fleet of 3.5 million tons, most of it in ultramodern supertankers and bulk carriers. By comparison, Niarchos controls 3.4 million tons and Onassis 4.3 million. Pao's navy has the distinct advantage of being practically brand new. But by early 1975, when some $800 million in new ships that he has already ordered are delivered, the Pao armada will total about 10 million tons. With an average age of less than 3.5 years, it will be the largest and newest private fleet on the seas...
Movable Assets. Pao's surge adds greatly to the biggest shipbuilding boom since World War II. While others find it hard to get keel space in shipyards at any price, Pao continues to stagger his competitors with orders on a scale that few can match. Because he pays top dollar, places orders in such great quantity and has cultivated close ties with owners of Japanese shipyards, he usually manages to obtain space. Last week he announced his latest deal-six supertankers totaling 1.5 million tons to be built by a consortium of five Japanese shipyards. The price: $180 million...
...America is primarily involved in flying supplies to the CIA's guerrilla army, the Clandestine Army of Meo tribesmen led by General Vang Pao. Recently, due to expanded CIA operations, Continental Air Services, a division of Continental Airways, has also been flying supplies...
...position was in part conditioned by the attitude taken by Meo General Vang Pao, who controls most of the Armee Clandestine's forces. Vang Pao is generally reluctant to launch offensives unless they are preceded by massive American bombing. He is well known in Laos for his periodic retreats to his base at Long Cheng, where he is said to sulk until his requests are granted. The need to keep Vang Pao fighting had much to do with the CIA's hard line on the bombing...