The Business History of Additional 10 Greek-Owned Shipping Companies Evaluated by Nonlinear Management

Abstract

We analyzed the business lives of 10 additional Greek-owned shipping companies by revealing their strategies since their foundation in about 1850s till recently. Moreover, Greek shipowners were unable to forecast the freight markets. They were also unable to understand fully, and manage properly, company’s Cash Flow. In addition, Greek shipowners—with the exception of Onassis—were afraid to grow by ordering newbuildings, using bank credit, and not 100% cash. Further, they had their wives unprepared for their unexpected death, and they were unable to stop 1 the split ups in their companies. We also showed that Greek shipowners were unable to survive from the frequent depressions and to protect their company from the change in the parity 2 , say between Yen and $. Finally, Greeks—with the exception of max. 3% of the companies—were afraid to be listed in the world Stock Exchanges due to the probability to be bought-over. Our main preoccupation was also with the “human resource management” in the shore office, and on board, given the “compulsory delegation” of the ship management to company’s Captains.