Αs Greece celebrates the 200th anniversary of its independence, shipping's influence is hard to overlook.

Festivities marking the event are being organised by Gianna Angelopoulos-Daskalaki, a member of one of the nation’s wealthiest shipping families.

The estate of the late magnate Stavros Niarchos financed nearly one-third of the celebration’s showcase project — overhauling the National Gallery in Athens at a cost of $55m.

Even the mansion serving as the prime ministerial office was commissioned by a shipowner from Chios more than a century ago.

Governments have repaid shipping’s largesse in kind over the years, with the industry enjoying tax privileges and constitutional safeguards that other domestic sectors can only dream about.

However, the relationship between the Greek state, shipping and its people is much deeper than a cynical quid pro quo: the industry captures Greek hearts.

Shipping offers Greeks a rare opportunity to feel they are still among the best in an industry, at a time when they excel in little else.

It is the only branch of the economy that is a world beater, commanding international respect, attention and publicity like no other Greek endeavour.

This does not mean shipowners are universally loved — a selfish, heartless shipowner is a staple character in Greek films and TV shows. And left-wing political groups have been attacking the industry for decades, especially after senior shipowners expressed support for the military junta between 1967 and 1974.

However, such invective is outweighed by the admiration that the industry evokes and the sheer opportunity it provided to the thousands of islanders it helped lift out of poverty before mass tourism began.

Rags-to-riches stories are not made in the local retail or technology sectors — as in other countries — but in shipping.

Therefore, politicians and lawmakers are reluctant to take any measure that would risk shattering that dream.

An exodus of the maritime community would be met with a universal outcry and seen as a recipe for economic decline.

(From left) Antonis Papadimitriou, president of the Onassis Foundation; Prime Minister Kyriakos Mitsotakis; and health minister Vassilis Kikilias at Athens airport on 30 March 2020 to take delivery of medical gear donated by the Onassis Foundation during the coronavirus crisis. Photo: TradeWinds

Even the leftist government that ruled Greece during part of its debt crisis between 2010 and 2018 did its best to defend shipping against a tax burden that some of the country’s creditors wanted to impose on the industry.

Two-way street

This was not the only time in modern Greek history that the state jumped in to support the industry.

Government guarantees helped shipowners to overcome foreign exchange controls after World War II and replenish their depleted fleets with surplus vessels from the US Navy.

This gave them a crucial head start over their rivals in other countries, such as Norway, who did not receive comparable government support.

Such help belies frequent bragging by Greek owners that they are entirely independent of their government and can do very well without its support.

Greek shipping far predates the Greek state. For centuries, Greek shipowners have been using foreign flags for physical security or economic convenience, while domestic affairs never weighed heavily on their minds, as Greece did not provide meaningful cargo volumes.

Nonetheless, state support remains crucial. The Union of Greek Shipowners can always use the friendly, if not powerful, voice of its government in the International Maritime Organization or the European Union.

Only in times of extreme stress has this relationship between governments and shipowners been put to the test.

Partly under pressure from UK and US allies in the two world wars, Greek governments increased taxes, mobilised vessels and took measures beyond those the shipping community thought justified or tolerable.

Much of Greek shipping relocated to New York as a result. However, almost the entire scene returned home after the 1960s, when Athens introduced the tonnage-tax regime that exists to this day.

Shipping’s contribution to the national economy has been steadily growing as a result. Shipowners have been among the country’s first and biggest private bankers. It has been estimated that by the 1970s, they controlled almost one-fifth of Greece’s industrial assets.

Today, shipowner investment is under almost every stone and the industry is the second-biggest foreign-exchange earner after tourism.