TITLE:
The Business Patterns of 20 Greek-Owned Shipping Companies: What Explanations Can Be Given by Management?
AUTHORS:
Alexandros M. Goulielmos
KEYWORDS:
The Long-Term Patterns of the Greek-Owned Family Shipping Companies, The Role of the Greek Islands, The Importance of Shipping Tradition, 107 Ships Built in USA for Liberty Sold to Greeks, The Play with Company’s Assets, Fleet’s Specialization
JOURNAL NAME:
Modern Economy,
Vol.16 No.1,
January
26,
2025
ABSTRACT: The purpose was to write the business history of a number of Greek-owned shipping family-companies and reveal their past strategies. Three out of the 20 were traditional, having more than 1 member & 1 generation, some starting in 1900, or before, and 7 out of 20, came from a Greek island. All companies grew by increasing their number of ships, but few undertook a serious shipbuilding program. Almost all companies opened a London or New York or Piraeus office, given the limited Greek trade for the expanding fast Hellenic Merchant Marine towards a global cross-trader. The majority of the companies were organized in partnerships, mainly among relatives, where a frequent splitting-up is expected. Greeks established about 1150 companies, owning/managing 4507 large vessels of 436 m dwt (18.5% of the world fleet) by 2024! Greek shipowners, however, could not face efficiently & effectively the shipping depression of the 1980s, which we have described in detail. In one company, out of the 20- specialized in Product Carriers, we consider it to be the prototype example of the Hellenic maritime entrepreneurship, for which we have, as Greeks, to be proud of!