By Ioannis Theotokas; Gelina Harlaftis
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Additional resources for Leadership in World Shipping: Greek Family Firms in International Business
Sample text
The reasons for a shipowner taking the decision to embark on independent business activity vary. 5 Shipowning families with more than 30 years’ activity in the international freight markets, 1945–2000, and their fragmentation 1. Total of shipowning families 2. Families for which some kind of fragmentation is recorded Proportion families/fragmentation Source: Based on interviews during fieldwork and Part II of this volume. 144 72 50% 40 Leadership in World Shipping disagreement over the future of the company or unethical behaviour of some of the co-owners of ships.
The size of tankers increased further in the following years: a ship of capacity 100,000 dwt was built in the late 1950s, by the late 1960s the size of the largest tanker reached 326,000 dwt, and in the mid-1970s tankers in excess of 500,000 dwt were built. 20 Leadership in World Shipping Part of the Greeks’ success during the postwar period was due to their entry into the tanker market in the late 1940s and the 1950s. The first shipowners to do so were Aristotle Onassis and Stavros Niarchos. They benefited from the Norwegian experience in tankers and exploited the propitious international situation.
Nomikos, while ‘non-traditional’ shipowners, such as I. Theodorakopoulos and P. Markeshiniss were operating three to four tankers in the same period. By 1974 the Greek-owned tanker fleet had become the largest in the world, representing 17 per cent of the global fleet. 8 million grt in 1974. Tankers represented 40–48 per cent of the overall capacity of the Greek-owned fleet in the years 1958–75. After the first oil crisis (1973–4), the situation in the freight markets for liquid cargoes changed dramatically.