Top 10 Greek Shipowners

Top 10 Greek ShipownersAs the Greek-owned merchant fleet remains one of the world’s biggest, ranking first in tankers, second in dry bulk carriers, second in LNG tankers and container ships, Greek ship-owners see their investments skyrocket.

One in five ships under construction belong to Greek ship-owners, and one in three ships are bought by Greek shipping companies, with the 40 Greek shippers controlling around 10.5 percent of the world’s cargo capacity, and 9.18 percent of the world’s tonnage.

The Greek-owned fleet has managed to compete directly with big shipping countries such as China and Japan, continuing its long tradition in shipping and the successful course demonstrated by Greek ship-owners. The Greek-owned fleet in April comprised 4,894 vessels with 291,735,318 deadweight tonnage (dwt) and 168,922,455 gross tonnage (gt), leaving Japan second, and China third.

According to data from the biggest global ship-broker company Clarkson’s, the top Greek ship-owners who stand out in the international shipping industry are:

  1. John Angelicoussis’ companies include Anangel, Maran Tankers and Maran Gas, and comprise 114 vessels with 20,581,974 dwt and 12,088,789 gt. Angelicoussis ranks first among Greek shippers and eight in the world ranking.
  2. George Economou is CEO of Cardiff Marine and Dryships groups, and his fleet comprises 128 ships with 16,433,577 dwt and 9,177,969 gt. 22 of the ships are currently under construction, while 37 are registered in Greece.
  3. George Prokopiou’s Dynacom has 95 vessels with 12,486,682 dwt and 7,443,560 gt.
  4. Angeliki Frangou is CEO of Navios group and comprises 117 vessels with 11,252,528 dwt and 6,268,888 gt. She ranks 19th in the world’s shipping ranking.
  5. Petros Papas’ group includes companies Ocean Buk, Star Bulk, and PST Tankers, and has 83 ships with 9,141,075 dwt and 5,059,602 gt.
  6. The shipping group of Nikos Tsakos comprises 62 tankers, 12 dry bulk carriers, 2 LNG tankers, 7 container ships, 1 ro-ro, and 1 support ship with 8,069,708 dwt and 4,538,878 gt.
  7. Euronav and GacLog owned by Peter Livanos comprise 48 vessels with 8,002,370 dwt and 5,198,364 gt.
  8. Victor Restis owns 84 vessels with 7,198,505 dwt and 3,896,054 gt.
  9. Marmaras Navigation owned by Diamantis Diamantidis comprises 52 ships with 7,015,218 dwt and 3,699,812 gt. 42 vessels are registered in Greece.
  10. Andreas Martinou’s Minerva Marine includes 54 vessels with 6,422,434 dwt and 3,457,921 gt.

It is noted that although the Greek-owned merchant fleet is smaller than those of other countries, Greek shippers rank first as they invest in vessels with larger holding capacity and dwt.


  1. And these ‘patriots’ still enjoy a tax-free ride while being the biggest and most successful industry in the land. What other country offers such a travesty to its wealthiest businesses?

    In the same day on this news site an article sadly reveals that Greece is the “least competitive country in Europe”–and then we see this kind of jaw-dropping wealth owned by a chosen few millionaires/billionaires who have NO TAX obligations to the country that treats them like gods.

    What’s up with that, people? Does anyone else see the injustice of this? It’s totally disgusting to the rest of us mortals who must pay exorbitant taxes on the meager income we endure in this nation, and in the face of further cutbacks and added taxes. It all wouldn’t be so disgusting if this elite group did not show off their wealth so ostentatiously–with no compulsion to help out their fellow countrymen in they’re greatest hour of need since WWII.

    What happened to the flat tax across the board on Greek owned shipping companies (regardless of the phony flags they fly on board their ships)? Just a 5-10% tax on their yearly earnings would greatly reduce the country’s woes. Do you suppose Greece would be at the bottom of the heap in almost every indices if it could only get out of its debilitating debt? Wouldn’t that liability become more manageable if the greatest industry here paid anything close to a fair share on their income? Can you see any other modern nation telling it largest industry–“You owe NO INCOME TAX on your profits. Now go enjoy yourselves, live exceedingly well and have no guilt about your greed? We all admire you for it!

    This miserable situation enjoyed by Greek shipping firms has only existed on the books so long because the politicians are in bed with them. Together they have made quite a fortune for all their own future generations to come.

    Once again Greece lives by the “Golden Rule”–Who ever has the gold makes the rules!

  2. Tonto, I agree with your post but it’s not only the ship owners who get away with it. Many other businesses in Greece avoid taxes -food industry- white collar workers- among the mass corruption with politicians and the like. Tax avoidance tax evasion. Your point is well taken but it’s not just them. In the US, GE and many other billion dollar corporations avoid taxes thru legal manipulations etc………………….

  3. SM: I’m not talking about “avoiding taxes”–yes a problem facing many countries–and Greeks enjoy their enormous share of that, top to bottom.

    No pal, I am referring to the TOTAL EXEMPTION from ANY tax obligation granted to Greek shipping companies in this country.

    It’s really absurd in this economic crises to comprehend how this can be tolerated. Do the Greek people even grasp this concept? An income tax-free life for certain sacred cows?

    Why are not more people outraged by the glaring unfairness of this? We pay something like 40% taxes on our income (whether we pay it, void it or continue to owe it with interest) and the richest dynasties (and extended families) of those shown above pay ZERO! (And these are only the 10 most successful firms–there are many many more). What would the ‘added value’ of their fair taxes be to the nation?

    How can this be? Greeks are supposed to be smart and aware. Are people so blind just because the journalist here are paid to never cover this travesty? Ask your local politicians about it–the ones who will travel this summer on the shipping families’ yachts.

    Where is ancient Diogenes when you need him? Would he be happy with this lunatic legacy? Crony capitalism, nepotism, and propaganda are what is really killing Greece.

  4. We’d need Prometheus at this moment, a strong opposition force, liberated by Hercules and start fighting for Justice.


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