Richard F. Smith, a King’s Point graduate, initiated Seaking Corp. in 1962 with Jimmy Chan, son of a prominent Shanghai based owner who had migrated to New York; and Nick Kosakos. They first operated a fleet of Liberty ships among them the famous “Grand Faith” and “Grand Explorer”. In the early 70’s, the company grew with a fleet of tankers, and entered the emerging box market working mainly with Sealand (“Grand Navigator” being the first of the series).
Birth of Crest Shipping Agencies ( NY) Ltd.
In 1978, Richard F. Smith spun off with the tanker division, giving birth to an independent Crest Shipping. The company ran a steady fleet of five tankers trading worldwide but with a focus on the Venezuela-US Gulf trades with US Oil Majors.