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Angelicoussis remains top of Greek shipowner tonne millionaires

Angelicoussis remains top of Greek shipowner tonne millionaires
We are continually reading how the “shipping crisis” seems to have had little impact on Greece shipping, as the community 'bounds along consolidating its standing at the top of most stats on world's fleet. Greek publication Naftiliaki has now added to the mountain of statistics, confirming the country's largest owners have mainly stood their ground, while others have crumbled.

There are presently 69 fleets under Greek control which top 1m dwt, three fewer than mid-2016, but the smaller number of owning companies control more ships and carrying capacity than ever. Further, there are a couple of companies a vessel or so short of the 1m dwt.

Naftiliaki's 30th annual survey of Greece's largest operators reveals, the 69 tonne millionaires, between them run 2,838 ships of just over 289.8m dwt, some 58 ships and 16.9m dwt more than 12 months ago. In 2016 the fleet grew by 153 ships on 2015 as newbuildings were streaming in but the 12 months saw an increase of just 15m dwt.

At the end of May the tonne millionaires' operated about 70% of the Greek-owned fleet and around 86% of its tonnage. Still, with some 500 shipping companies in all in the Greek clusters, it's clear shipowning is in the Greek DNA, and is seen as a career with many small players earning a living from it. Indeed, there are 62 fleets of 20 ships or more, seven of them not among the 1m dwt-plus group.

John Angelicoussis' diversified fleet of bulkers, tankers and gas carriers has consolidated its position at the top of the “tonne millionaires” with a fleet of 120 ships of 24.9m dwt, up 15 ships and 4.33m dwt on 12 months ago.

The Athens-based owner has been expanding through taking delivery of newbuildings having in 2016 grown by 10 vessels and 2.15m dwt on 2015. Further, Angelicoussis¹ tankers have often been in the news for their part in innovative projects working with companies developing technology, as it's well known for its practical approach to the transportation of goods by sea.

The privately owned Angelicoussis fleet leads a cluster of companies which have grown backed by investors through being listed in New York ­ 16 in all - and indeed, the next truly private operator is Angelicoussis' sister, Anna. Her group has decreased its tonnage by just over 1m dwt since last year while adding four vessels to the fleet and is at number eight on the list down a place, with 8.88m dwt comprising 20 tankers, 31 bulkers, and an LNG carrier.

Two women are among the top eight as Angeliki Frangou's Navios stable retains second position overall with 16.76m dwt and 167 ships up 1.22m dwt and a whopping 19 ships, making Navios by some way the largest fleet shipwise. And that does not include several deals now in progress, nor her South American operation.

Fast restructuring George Economou's Cardiff / TMS / DryShips stable remains in third place, the fleet some six ships larger at 101 and 12.99m dwt - 858,523dwt up on 2016 -- taking the group back to the level it was in 2015. George Procopiou, 12.62m dwt / 100 ships (up 500,000dwt / and four vessels) is in fourth, and though Peter G Livanos is no longer a major stakeholder in Euronav Hellas, 11.28m dwt / 46 vessels (down 190,000dwt / two vessels) the company is included in the list and remains at five, ahead of the growing fleet run by Peter Pappas (Star Bulk / Oceanbulk / Product Tankers) which comprises 10.809m dwt and 107 ships, up 1.57m dwt and 13 ships. Livanos'
GasLog is in 39 th spot, with 2.24m dwt and 27 gas carriers, four spot behind the Vafis family's StealthGas (55 LPG carriers) 18 tankers and eight bulk carriers. 

Led by middle brother, Dinos the Martinos dynasty of Thanassis / Eastern Mediterranean and Andreas / Minerva Marine control between them 206 units of 22.05m dwt , up seven ships and 2.28m dwt.

Out of the list are Hellespont / Papachristidis, Quintana Shipmanagement, Paragon / Box Ships / Michael Bodouroglou and Polys L Haji-Ioannou, the first time in 30 years the late king of the tankers' Loucas Haji-Ioannou's family is not represented in the list.