Athenian Sea Carriers Limited: Take the bull by the horns

by Kevin Oates

Although shipping remains an industry not especially favoured by the capital markets, there is no doubt that increased industry standards from charterers, class societies, peer pressure and Intertanko, to name but a few, are forcing some companies to focus on structural change and quality matters and even accept the inevitable requirement of financial transparency. And all else being equal, these companies now fit the niche of capital market acceptability.

Athenian Sea Carriers
Athenian is one of the Greek companies that has made this change. The principal of Athenian, Minos Kyriakou, has also followed another trend of top Greek owners in the last decade – that of diversification. Indeed in the last ten years in Greece Minos Kyriakou has received much attention for his media activities. During this period his ANTENNA radio and television stations have become domestic leaders, have tapped US and European bond and equity markets, and have spread their wings to provide live TV services to the vast Greek populations in Australia, South Africa and America. What is perhaps not so well known is that the initial capital for the media projects came from a long and successful career in shipping.

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