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Angelicoussis tops Greece's 'tonne millionaires' list

Angelicoussis tops Greece's 'tonne millionaires' list
The “shipping crisis” seems to have had little impact on Greece's major owners as the largest owners have increased in number and their fleets are bigger.

There are presently 72 fleets under Greek control which top 1m dwt. There are 61 fleets running 20 or more vessels. A year ago there were also 72 “tonne millionaires” but just 57 fleets of over 20 units.

A survey by Naftiliaki Greek Shipping Review reveals that between them the 72 ownerships run 2,774 ships of a total 272.9m dwt, some 153 vessels and 15m dwt more than a year ago. This group therefore runs some 70% of the Greek-owned fleet and controls around 80% of its tonnage. With some 500 shipping companies in all, this also emphasises the fact shipping in Greece is a career with many small players earning a living from it.

John Angelicoussis, with his diversified fleet of bulkers, tankers and gas carriers and consolidated his position at the top of the “tonne millionaires” with a fleet of 105 ships of 20.57m dwt, up 10 vessels and 2.15m dwt. Indeed, the top positions have not changed over the past 12 months as Angeliki Frangou's Navios stable retains second position with 16.76m dwt and 167 ships up 1.22m dwt and up a whopping 19 ships, making Navios by some way the largest fleet shipwise.

George Economou's Cardiff/TMS is in third place, 12.13m dwt (down 1m dwt) and 95 ships (down seven vessels) while George Procopiou, 12.1m dwt / 96 ships (up 400,000dwt / nine vessel), Euronav Hellas, 11.47m dwt / 48 vessels (up 300,000dwt / one vessel).

The fleet controlled by Petros Pappas/Star Bulk/Product Shipping & Trading comprises 9.24m dwt and 94 units (up 2.2m dwt /23 vessels) and Angelicoussis' sister, Anna Angelicoussi's group has 9m dwt and 48 ships (up 1.22m dwt but three ships less).

When it come to traditional owners and dynasties, after Angelicoussis family comes the Martinos brothers, Thanasis, Dinos and Andreas whose individual companies, led by Dinos' Thenamaris 7.34m dwt /74 ships, control 200 units of 19.77m dwt.

Among the three newcomers to the list is John Hadjipateras' NYSE-listed Dorian LPG, which in a very short time has built a fleet of 24 gas carriers, of 1.27m dwt. The Restis-backed Seanergy Maritime enters the list with 1.2m dwt / 10 bulkers, though with Restis selling down vessels to the Nasdaq-listed Seanergy, the family's Enterprises Shipping & Trading / Golden Energy has slipped down the list from eighth place in 2015 to 24 this time round. The Basil Papachristidis-linked Hellespont has risen from the bottom of the league table in 2015 to number 49 having grown the fleet by 11 units and 1.8m dwt.

All but seven of the 20-plus fleets are among the fleets over 1m dwt. By way of comparison, at the same time in 2011, there were 50 Greek fleets of over 20 ships, but 13 of them were under 1m dwt.

In both the “tonne millionaires” and the 20 plus fleets, 15 are listed on a stock exchange.