The turbulent journey bringing the aircraft carrier Liaoning back to China

Mr. Tu Zeng Binh pointed at the aircraft carrier Liaoning in March 2002.

Hong Kong businessman Xu Tangping did the impossible in 1998, convincing a Ukrainian shipyard to sell him an unfinished Soviet aircraft carrier for $20 million.

Mr. Tu reached an agreement with his partner after many days of negotiations and lavish receptions.

Wind and waves on the way

The Ukrainian shipyard made it clear that it was not responsible for bringing the aircraft carrier from the Black Sea to China.

Mr. Tu’s team hired Dutch International Transport Contractors (ITC) to tow the ship.

Relations between China and the US became tense weeks before Mr. Tu’s crew left port.

Therefore, Türkiye, a NATO ally, does not allow aircraft carriers to pass through the Strait of Hormuz.

Varyag ship’s journey to China (click on the photo to see more).

`I felt helpless when the ship had to be `buried` at the entrance to the Bosphorus Strait. There was a time when I prepared for the worst. We would rather let the giant ship sink to the bottom of the strait than let it

The ship waited languidly at the Black Sea port for another 15 months, until times `smiled` on Mr. Tu.

During a press conference today, Chinese Foreign Ministry spokesperson Hua Chunying said `nothing is known about the issue` of the Liaoning aircraft carrier posted on SCMP.

China’s President at the time, Jiang Zemin, visited Ankara in April 2000.

The aircraft carrier once again entered the Black Sea.

However, stormy weather severed the cables connecting the tugboat to the aircraft carrier, once again putting the project in danger.

Through 2001, the carrier and a series of tugs slowly made their way through the Mediterranean, through the Strait of Gibraltar, and out into the Atlantic.

Mr. Tu said at that time he felt like `a lost son who found his way home`.

`But I still didn’t feel truly relieved until the ship was officially handed over to the navy 12 years later. It felt like finally seeing my children grow up and get married.`

Photo taken of Mr. Tu Zengping in 2012, when the Liaoning aircraft carrier was officially handed over to the Chinese navy.

Sweet and bitter

However, the Liaoning aircraft carrier deal was both a sweet and bitter victory for Mr. Tu because he had to pay the cost of renting the port and towing the ship.

`20 million USD is just the auction price of the aircraft carrier. In reality, I had to pay at least 120 million USD for this deal from 1996 – 1999. However, I still have not received a penny from the government.

To have money to repay the debt, Mr. Tu had to sell his magnificent house in Victoria Peak, an area where Hong Kong’s rich people lived in 1999, and mortgage his house of more than 26,000 square meters in Binh Chau, Hong Kong.

A source close to the aircraft carrier deal said Tu had to shoulder these costs because many of the navy officials who approached him to commission the mission were dead or in prison.

Mr. Tu had to liquidate more personal assets due to increasing costs.

`It took me 18 years to pay off the principal and interest. I paid the last debt this year. I feel relieved because my friend is now 81 years old. I promised myself that I would

Former Chinese naval intelligence boss Ji Shengde, who entrusted Mr. Xu with the Liaoning aircraft carrier transaction.

Pride remains

Mr. Tu has been involved in several lawsuits due to debts.

According to China’s Carrier, in a book published by China Development Press, Mr. Xu has been asking the State Council for compensation for many years, however, Beijing will only pay $20 million of the price.

`It’s unreasonable and unfair. How can Ukraine issue receipts for the meals, gifts and stacks of dollars Mr. Tu spent? What about other losses in raising money?`

A friend of Mr. Tu said the costs from the ship purchase had pushed him into serious financial difficulties.

Mr. Xu said the central government refused to pay because `the navy had no budget in the late 1990s, due to China’s poor economy at the time.`

`But that is not an adequate reason. How could China develop ‘two bombs and a satellite program’ in the 1960s when it was a difficult time for the country? Many people wondered

`China has made enormous economic strides in the past two decades, but the government still does not use that power to push the country towards sustainable development. The defense industry is one of the key problems.`

However, the aircraft carrier deal also gave Mr. Tu some comfort.