Foremost Group

Foremost has built its fleet in shipyards in Asia with financing from major American, Taiwanese, and European banks.[9] As is typical to the industry, it does not directly contract for the movement of cargo but instead charters its vessels to charterers such as major agricultural companies or other dry bulk commodities shippers. Seventy two percent of the freight its ships carry on behalf of its charterers is shipped to China, with its ships operating primarily in the region of Korea to Australia,[10][2][11] but also world-wide. Iron ore, bauxite, and other bulk dry goods are the principal cargoes carried by its charterers, who choose the routes and cargoes carried.[12][10]

Customers have been reported to include Japan's NYK Line and MOL, Dreyfus of France, and both Bunge and Cargill of the United States.[13]

In 2020, Foremost joined the North American Marine Environment Protection Association (NAMEPA).  Lloyd’s List called Foremost "one of the most respected dry cargo shipping companies in the world."[14]

The Foremost Foundation was started to "to help young people access higher education and greater opportunities generally, while also supporting health care initiatives and U.S.-Asia cultural exchanges."[19]

Based in part on Foremost's Pacific-Rim trade, President Donald Trump referred to James Chao's daughter, Elaine Chao, using a racist slur and labelled the Taiwan-born U.S. citizen as a "China lover." The slur was immediately condemned by political and community leaders and civil rights groups including the CEO of the Anti-Defamation League.[20] The Wall Street Journal noted "Foremost Group ships travel often to Chinese ports because much of the world’s commodity trade goes to and from China... You can’t be in the global shipping business and not travel to Chinese ports."[21]

Some media reports questioned Elaine Chao's impartiality as Secretary of Transportation, in which role she oversaw the U.S. Maritime Administration during the Trump administration .[22][23] The Department of Transportation (DoT) regulates US-registered cargo vessels but does not regulate any foreign vessels. Foremost has no US-registered vessels and performs only international shipping; thus it is neither regulated nor promoted by DoT. According to the New York Times, investigations made no "formal finding that Ms. Chao violated ethics rules" regarding Foremost and prosecutors declined to bring any charges.[4][24][17][25] The Wall Street Journal noted that "Elaine is neither an employee nor owner" of Foremost; the Washington Post's "Fact Checker" similarly reported that "Secretary Chao has no interest, ownership or involvement in the company."[26][27]