Chapter 1589: The Zhang Baogao
Translator: Nyoi-Bo Studio Editor: Nyoi-Bo Studio
Li Du looked at the information. This auction was indeed big.
The auction took place on a cargo s.h.i.+p, the Zhang Baogao, a super large Panamax cargo s.h.i.+p with a length of 300 meters, a width of 43 meters and a height of 14.5 meters.
The cla.s.sification of cargo s.h.i.+ps was very strict. They were divided into ordinary container cla.s.s, full container cla.s.s, Panamax cla.s.s, Panamax Max cla.s.s, super Panamax cla.s.s, super large Panamax cla.s.s, new Panamax cla.s.s, and 3E cla.s.s.
The division was cla.s.sified based on the number of containers the s.h.i.+p could accommodate, its load, its length, width, and its draft depth. Although the super big Panamax cla.s.s was not the highest-cla.s.s cargo s.h.i.+p, it was very magnificent. Its size and capacity were impressive.
Li Du looked at the gra.s.s outside the windows and thought about the measurements: three hundred meters long and more than forty meters wide. It was indeed very magnificent to think of a s.h.i.+p of that size.
Even more impressive was the number of containers in the auction, of which there were more than 2500!
That was not considered too many. This number was just a fraction of the standard load for a super large Panamax s.h.i.+p, which was 8,000 containers.
It was true that there were 8,000 containers when the Zhang Baogao left the post, but the boxes were not filled up and there were plenty of empty s.p.a.ces. This was why the Korean Trade Group went bankrupt. The industry had been suffering from inflation these years.
Normally, when a cargo s.h.i.+p left the port, less than 20 percent of the containers would be empty. These empty slots would usually be filled up with goods in the port where they stopped during the journey.
In short, a s.h.i.+pping company with effective operation would not end up with an excessive number of empty containers.
The reason the Korea Trade Group s.h.i.+pped a large number of empty containers out of the port was also to reduce the amount of bankruptcy liquidation compensation. Their top management officers had already known that these s.h.i.+ps would not possibly come back to the port after sailing out of it.
Li Du read some reports on recent s.h.i.+pping information that raised questions about the Zhang Baogao’s departure from port, saying the s.h.i.+p was practically sailing empty and it was a burning cash act.
The Korean Trade Group explained to the rest of the world that the s.h.i.+p was mainly used to transport vehicles, and was carrying about 1,400 units of family cars, including 1,100 units of Hyundai, 100 units of SsangYong and 100 units of Double Stars, with a total value of more than 50 million dollars.
In fact, of course, there was no such thing. After the insurance company arranged some officers to go onboard the s.h.i.+p and check out the goods, they found that there were some cars, but they were all used ones. Such cars had no market in the United States and were worthless.
They also checked the containers and arranged a professional company to evaluate the value of the contents. After some calculations and screening, they felt that warehouse auction was the most appropriate way to deal with the containers.
The auction would take place during three days in early February, with more than 2,000 containers being auctioned in a secret manner, allowing treasure hunters to visit as they wished and bid for whatever they wanted when they boarded the s.h.i.+p, and insurance companies would come and collect the bids given out after three days.
Li Du looked at the time. After the auction, he could go back to his hometown to celebrate the Chinese New Year. He felt this auction was quite convenient because it would not delay him in carrying out his plans, which was nice.
After a long wait, it was time for the auction. They were leaving from the Seattle harbor and the cruise went west into the Pacific Ocean. Zhang Baogao was decked there.
Therefore, before they went to attend the auction, they had to go to Seattle.
Seattle was one of several large cities in the far north of the United States. It was located in the state of Was.h.i.+ngton, near Oregon and not far from the Canadian border.
The city experienced a period of rapid growth 30 or 40 years ago, and combined bold innovation with flamboyant individuality. With the help of the global web, it became the largest metropolis in the American northwest.
Before the Internet developed, Seattle’s main business industry that supported the city’s economy was s.h.i.+pping. It was the second-largest container port in the United States and the closest port to the Far East, where many of the s.h.i.+pping industries started.
Li Du arrived in Seattle by helicopter two days before the auction.
The insurance company was stingy, offering only five days’ accommodation for selected clients, which included three days during the auction and one day before and after.
After looking at the accommodations, Li Du refused to stay there. The insurance company was stingy enough to offer them a three-star hotel.
He asked Lu Guan to book a five-star hotel. They came to Seattle once in a blue moon, and there was no need to treat themselves too poorly.
Bill Sh.o.r.eton got into the warehouse-auction business relatively recently. As he remembered, being in a warehouse auction in other states was a process of grueling work, and at the end of the day they would wish for nothing more than a bed to crush in.
Now he began to understand how attending an auction should be like. Following Li Du to Seattle to partic.i.p.ate in the auction this time opened new horizons for him.
First, they did not come here by truck, but by helicopter.
When getting on the helicopter, he asked in a dumbfounded manner, “Boss, are we not driving a truck?”
Li Du said, “Why do we need to drive a truck? If we manage to win a container, with the size of them, how much can our truck carry? And if we don’t have any harvest, won’t the truck drive be for nothing? Anyway, it’s better to fly.”
The helicopter soared from Los Angeles to the ocean, hurtling down the coast, and flew to Seattle.
After reaching Seattle, the helicopter headed to Pioneer Square and landed on the tarmac on the top floor of a luxury hotel.
Again, Bill was surprised. “We’re not going to stay here, are we?”
Li Du did not know where they were staying, so he pointed to Lu Guan with a gesture that meant Lu Guan was the one who arranged for the accommodations.
Lu Guan straightened his chest and said, “Boss, the hotel I chose is the Western Park Hotel, which is the most antique and famous hotel in Pioneer Square. You will be satisfied.”
Li Du nodded. “I don’t need too much, it would be fine as long as we have a bed to crash in.”
Bill’s mouth opened wide in shock. He had heard about the Western Park hotel and knew it was one of the best hotels in the northwest, with the least expensive rooms priced 400 to 500 dollars per night. It was the best hotel in the entire northwest area of America. He did not expect that they would choose such a highly rated hotel to stay in during their partic.i.p.ation in this auction.
Playboy, who was also invited to the auction, came along with Li Du too. He was a potential Million Dollar Club member, a wealthy man well known among Arizona’s treasure hunters’ circle.
Playboy saw the change in Bill’s facial expression. He straightened his clothes, smiled and said, “You scared this man.”
When Bill heard this, he waved his hands, afraid that he might make Li Du feel disgraced, and said, “No, no, no. I was not scared. I am just a little surprised. G.o.d, we are just here for the auction, after all!”
Li Du nodded and said, “Yes, the huge auction business we are doing may bring tens of millions, so what’s the problem with having a stay here?”
Bill’s lips parted a few times and he said helplessly, “It is someone else who has a problem, boss. You have no problem.”
When Li Du partic.i.p.ated in auctions in other places, no matter what he ate or where he lived, he had never been wronged. From the first time he had made such a trip, Hans had arranged the food and lodging for him.
The hotel that Lu Guan found was very good, actually, Li Du was not quite satisfied with this, and found that he still preferred the arrangements Hans made. Hans could always find some places filed with local amorous feelings and culture which was not very well-known.
Hans was the one who really understood him. Li Du did not come to these places simply to eat and sleep well. More importantly, he wanted to broaden his horizons.