Managing Shipping Companies, the Way Their Pioneers Did: The Case-Studies of Vafias N Family and Aristotelis S. Onassis - Modern Economy

ME > Vol.11 No.12, December 2020

Volume 11, Issue 12 (December 2020)

ISSN Print: 2152-7245 ISSN Online: 2152-7261

Google-based Impact Factor: 0.74 Citations h5-index & Ranking

Managing Shipping Companies, the Way Their Pioneers Did: The Case-Studies of Vafias N Family and Aristotelis S. Onassis ()

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Download as PDF (Size: 10228KB) PP. 2156-2182

DOI: 10.4236/me.2020.1112142 488 Downloads 2,205 Views Citations

Author(s)

Alexandros M. Goulielmos^1,2

Affiliation(s)

¹Former Professor of Marine Economics, Faculty of Maritime and Industrial Studies, Department of Maritime Studies, University of Piraeus, Piraeus, Greece.
²Professor Emeritus of Shipping, Transport and Logistics Department, Business College of Athens, Athens, Greece.

ABSTRACT

We thought that the best method to teach is by example. The business life of 2 Greek shipowners is presented: of Harry Vafias, a young educated shipowner in the niche market of small LPG carriers (≤26,000 cbm), and of the legendary shipowner Aristotelis S. Onassis. Onassis dominated by building gigantic crude oil tankers, from 1938 to 1975. These cover the modern and the old. To be listed in NASDAQ was uncommon at the time of Onassis as well the institution of 3^rd party management. For Greeks, ship-owning is a way of life; modern shipowners consider it as a business to profit… Comparison between the 2 above worlds shows the developments occurred in ship management the last 90 years or so. Certain principles, however, are present no matter the time passed: economies of scale; maximization of tonnage owned using particular strategy; minimization of cost; creation of competitive advantages. We presented also our theory “to manage by Attractors”. Finally, a reference is made to the legendary acquisition by Greeks of 107 Liberty ships from USA in 1946.

KEYWORDS

Onassis Business Life (Part I), Vafias H Business Life, Management by 4 Functions & 5 Targets, Management by Attractors (new) Buying 107 Liberty Ships in 1946

Share and Cite:

Goulielmos, A. (2020) Managing Shipping Companies, the Way Their Pioneers Did: The Case-Studies of Vafias N Family and Aristotelis S. Onassis. Modern Economy, 11, 2156-2182. doi: 10.4236/me.2020.1112142.

Cited by

[1]	Shipping: How a Low-Earnings Industry Has Created Very Rich Owners? The Stopford's Paradox
	Modern Economy, 2022

[2]	When in Shipping, Do as Greeks Do: For a Successful Creation and Management of a Shipping Company Dealing with Tankers and/or Bulk Carriers
	Modern Economy, 2021

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