Word: niarchoses
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WHEN Contributing Editor Michael -(TM) Demarest wrote this week's cover story on Greek Shipping Magnate Stavros Spyros Niarchos and the boom in postwar shipping, he brought to his subject an understanding and feeling that came from long personal experience at sea. Mike spent three of the World War...
Lord of the 697-ton Creole, and the hero of a new Greek legend, is Stavros Spyros Niarchos, 47, world's biggest independent shipowner. The legend of Niarchos, fondly referred to in the world's press as the "Golden Greek," is a blurred montage of shipboard launching parties...
Ten years ago the largest tankers plying the seas were 18,500-tonners. Last week Shipowner Aristotle Socrates Onassis', who operates under five flags, confirmed plans to build a 100,500-tonners more than twice as big as the largest existing tanker, the 7,750-tonners owned by his...
Niarchos is reputed to get more ship per dollar than anyone else in the business, because, as he says, he "always waits until the yards are thirsty." Thus, when he ordered eight supertankers in thirsty Japanese yards last year, he was able to squeeze costs to $117 a deadweight ton...
Niarchos plans to keep on building bigger ships on the theory that operating costs increase only slightly as capacity goes up. He talks of atomic-powered 100,000-tonners in the not-too-distant future. Present-day merchant fleets, Niarchos points out, are never too far from the financial reefs...