Shipping as an industry has been attracting a rather interesting mix of entrepreneurs, investors and staff during the past two years. The profits earned are so appealing these past few years, that a large number of businessmen, which weren't related to the sea business, decided to turn into ship owners, or investors in ship owning companies. Between the years 2005 and 2006, it is estimated that about 30 new shipping companies entered the shipping industry with small vessel fleets at first, but which are growing on a gradual basis.
What's impressive is that the new ship owners don't just suffice with buying second hand vessels, but also move ahead rather quickly with new building orders, a business move, typical of medium-sized or large shipping companies, with experience and a background in managing their ships.
In fact, a number of these companies go public, by listing their shares in various stockmarkets. Mr. Koutsolioutsos, CEO of Follie Follie is one of the main shareholders of Seanergy Maritime, founded in 2007 and entered the American Stock Exchange as a blank check company, raising $220 million for the purchase of ships. Another example is Soloi, a company founded in 2006 with Mr. Johnny Kalimeris (known from his administrative positions in both public and private TV channels), being the main shareholders. He is the son-in-law of the eminent Cypriot entrepreneur Mr. Dakis Ioannou. The company Everlast is another example, with Mr. Sam Fais, former owner of Elmec Sport, being the main shareholder, with a former senior manager of British ship broking company Clarkson, also participating in the venture. Everlast has contracted eight dry bulk carriers, worth $280 million, to be delivered during 2009 and 2010.
Globus Maritime is also another indicative example. Mr. George Fidakis is the main shareholder and Chairman of the AIM-listed shipping company. Mr. Fidakis is also the Chairman of FG Europe, a group listed in the Athens Stock Exchange. Globus Maritime manages dry bulk carriers and is run by executives like Mr. George Karageorgiou, with significant experience in listed shipping companies. Another important example is the case of Sanyo. Papageorgiou family has a large experience in the shipping industry, through its participation in Torm Shipping, but lately a part of the family is moving forward with the creation of another new shipping company, mainly active in dry bulk cargoes.
We could also refer to Meadway Maritime, which is run by a former stockbroker and is now owner of 10 dry bulk carriers, as is Fourlis family, which is rumored to have also invested in the dry bulk trade. Not to leave out of this, Evripos Shipmanagement, whose owners are mainly active in timber trade. They entered shipping three years ago and recently placed an order with Cosco for the construction of 57,000-dwt bulk carriers to be delivered in 2010.
We could continue this list, but the big question is this: Besides entrepreneurs, investors and executives, is it maybe the right time for the young people of Hellas to become attracted to shipping? The Hellenic shipping industry has an urgent need of executives for its shipping companies, as well for officers (captains and engineers), which are all rewarded generously, with decent salaries and exceptional working conditions. So, maybe it's time for the "Hellenic Family" and our youth, boys and girls to wake up?
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