Angela Chao Speaks on Shipping Industry at Panama Texas Business Summit

Angela Chao Recognized in LEADERS Magazine as Prominent Female Leader
January 30, 2022

Angela Chao Speaks on Shipping Industry at Panama Texas Business Summit

Angela Chao was a featured speaker this week at the Panama Texas Business Summit in San Antonio, Texas. Chao, the CEO and Chair of Foremost Group, was invited to speak at this commercial exchange between Texas and Panama thanks to her many years of experience in maritime shipping management.

Among the attendees were government personnel and industry leaders from both Panama and Texas. Before the conference, CEO, Chairman and Organizer of the Panama Texas Business Summit, Eric Paz, called Chao, “one of the most widely recognized leaders in shipping,” and added, “We are pleased that Angela Chao will share her insights and perspective at this year’s summit.

“The Panama Canal – and the relationship between the U.S. and Panama,” Chao said prior to her speech, “are critical to battling continued inflation and supply chain disruptions.”

During the conference, Chao commented, “The Panama Canal had over 12,000 transits in 2021, facilitating 292 million tons of cargo in 2021. Last year, dry bulk carriers accounted for 25% of all Panama Canal transits and over 36% of cargo that transited. The Panama Canal also brought in almost $3 billion of toll revenue.”

These statistics are significant as Foremost Group owns and manages one of the world’s most eco-friendly and modern fleet of dry bulk carriers. Foremost Group was founded in 1964 by Chao’s parents, Dr. James SC Chao and Mrs. Ruth Mulan Chu Chao, and over the past 30 years the privately-owned American shipping company has been able to keep the average age of ships in their fleet below five years old. This replacement cycle has ensured that Foremost Group maintains a technologically advanced, energy efficient, and eco-friendly fleet that complies with all international regulations.

Prior to the inauguration of the expanded Panama Canal in June 2016, Foremost Group was only able to send the smallest ships of their fleet through the Canal. However, with the new locks, and the upgraded transit system involving tugboats as opposed to ropes along the lock wall, Foremost Group is now able to send the entirety of their fleet through the canal free of worry.

“We are so proud to have ships transiting the newly expanded Panama Canal again,” Chao stated, “Allowing goods to be shipped through shorter routes which also reduces the environmental impact to our world.”

At the end of her speech, Chao said, “May I add how incredibly proud I am to be in shipping – we are the most environmentally friendly mode of transportation in the world.”

She finished, “We at Foremost are proud to be part of the maritime industry which builds bridges around the world, among countries, peoples and cultures.”