The History of the Main Business Patterns of 30 Greek-Owned Shipping Companies: What Explanations Can Be Given by Management?

We analyzed the business history of 30, or so, Greek-owned shipping companies & revealed the following 7—at least—main characteristics: • Twenty-four owners out of 30 (80%) come from a Greek island. • All owners belong to a family (100%). • Twelve companies out of the 30 (40%) were clearly traditional. • Seventy-three % of the companies mobilized 1 generation or more, as follows: 1 generation 8 companies; 2 - 3 generations, 17; 4 - 5 generations 6. • Seven (21%) companies showed a Rapid growth Strategy1, reaching up to & over 1m dwt; 6 (18%) a Medium growth Strategy, of up to & over 1/2m dwt; 6 a Low Growth Strategy, from say 20,000 dwt to 499,999 dwt, while 14 companies did not state their dwt. • Eight companies out of 30 obtained 1 at least Liberty ship from the 107 built in USA in 1946. • From the 1st group, 2 companies established also a ship-broking office; 2 established an office in Piraeus, 7 in London & 2 in NY; 5/10 of the owners had a prior sea profession, & also 5/10 of the owners established their own shipping company; 3/10 of the companies had partners; also 3/10 built new ships. • Similar patterns as the 1st group were followed by the other 2 groups.