Remarks by Sole Honoree Dr. James S. C. Chao at United States Coast Guard Foundation Tribute Dinner

Pier 61

New York City

Thursday, October 9, 2025

Thank you for this extraordinary acknowledgement. The motto of Foremost Group is honor, integrity and performance. The United States Coast Guard typifies those ideals, so I am humbled to be recognized by the Coast Guard Foundation, given its prominence supporting the broader Coast Guard community across this country. Your mission is one we embrace at Foremost Group, and we are proud of our longstanding affiliation with this important organization.

When I founded Foremost Group in 1964 with my late wife, Mrs. Ruth Mulan Chu Chao, we were determined to become a model of excellence for ocean transportation services. We achieved that goal by establishing a unique culture rooted in our core principles and a commitment to everyday excellence. As a result, Foremost Group earned its place as a global leader in dry bulk shipping and a well-deserved reputation for its commitment to performance, exceptional service and the highest ethical standards.

Sustainability is an essential element of our culture and our dedication to performance and service. We first started exploring environmentally friendly shipping technology more than 40 years ago, long before others in our industry and the transportation sector more broadly. Today, Foremost has one of the most eco-friendly fleets in the world. We are committed to reducing carbon emissions and protecting the ocean environment by incorporating fuel efficient design and non-fossil fuel technologies into our fleet. We continue to invest in new more sustainable technologies that make us one of the greenest shippers in the world and give us a competitive advantage with charterers who want to improve their environmental and sustainability performance.

Excellence in the shipping industry demands strict adherence to safety standards and access to ongoing education. Safety has always been a hallmark of our operations, and we have pushed to enhance those standards over the years. Relatedly, education has always been a personal priority for me and my family, so we have prioritized ongoing education for the Foremost team. I am proud of this recognition today from the Coast Guard Foundation because it is further validation of our commitment to sustainability, safety and the importance of ongoing education.

My life has been devoted to ocean shipping, going back to my days as a university student studying navigation. I love this industry. And running a shipping company is much more than a job to me – it’s my mission in life. That is why I am so humbled and honored to be recognized by the Coast Guard Foundation. I also want to acknowledge my fellow honoree, U.S. Coast Guard Cutter William Chadwick, for his bravery in rescuing six mariners from a shipping vessel last year. I am a proud member of the maritime community, and it is truly an honor to be recognized by such esteemed professional peers.

I accept this acknowledgment on behalf of all my hardworking colleagues at Foremost Group. Their dedication to excellence makes recognition like this possible, and I am grateful for their unwavering commitment to our clients and our core principles. I want to thank them, and I want to thank you.