Two months after German shipowners chose Gaby Bornheim as the first woman to lead their association, the Union of Greek Shipowners (UGS) has elected Melina Travlos president.
Travlos’ election for a three-year term reflects some fundamental changes underway in the world’s biggest shipowning nation.
In the not-too-distant past, Greek shipping daughters used to serve just as wedding material around which male business alliances were formed.
In recent years, however, women have been increasingly been thrown into the deep, taking an active role in company succession from legendary founding fathers.
Travlos, 55, was one of the earliest examples. She has been working since her teenage years at Neptune Lines, the car carrier company founded by her late father Nikos.
A UGS stalwart, she served as one of two secretaries on the previous board under outgoing president Theodore Veniamis.
Characteristic of the same trend is the election to the new board of Maria Angelicoussis, who succeeded her late father John, and Semiramis Palios of Diana Shipping.
Ioanna Procopiou and Angeliki Frangou have held UGS board positions in the past.
The generational change also extends to the male gender. New on the 30-strong board are Nikolas Martinos of Thenamaris — son of outgoing vice president Dinos Martinos — as well as Alexandros Pappas, son of major shipping player Petros Pappas.
At the same time, the incoming generation isn’t afraid of bringing in external management nous to help run their affairs — sometimes even from outside Greece.
In September, Travlos called in Australian manager Craig Jasienski as Neptune Lines chief executive.
Travlos will have large shoes to fill. Her predecessor has led the UGS since 2009 — an unusually long period.
“This should be telling you what a good job he did,” one of Veniamis’ supporters told TradeWinds.
Veniamis steered the union through some of the most treacherous waters in post-war history.
Internal gripes
Calls within and outside Greece to scrap or tamper with the country’s constitutionally enshrined preferential tonnage tax regime intensified during the sovereign debt crisis.
Veniamis showed flexibility, yielding to temporary and voluntary tax increases to avoid any radical revamp of the tax regime by European Union creditors or a radical left Greek government that took office in 2015.
His tenure was not free of criticism. The question of exhaust scrubbers split the association and some members suspected Veniamis of using his UGS pulpit to promote his personal views against the technology.
In another rare sign of discord, heavyweight shipowner Panos Laskaridis publicly clashed with Veniamis and resigned from the UGS last year, after the association joined criticism of Laskaridis’ outspoken views.
Since UGS presidents are usually elected unopposed, shipowning sources expressed fears that a potential counter-candidacy to Travlos by George Angelopoulos of Arcadia Shipmanagement could be a sign that internal gripes might hobble the union in the future.
Angelopoulos never formally threw his hat into the ring and Travlos was elected unanimously at a meeting of the new board on Thursday, so she is expected to face no significant opposition from within.
“It’s imperative that we all pull in the same direction now,” an owner told TradeWinds. “A lot is at stake and things will be really difficult from now on.”
Some of Veniamis’ achievements may be starting to crumble.
The UGS managed to keep EU regulators at bay by accepting a 10% tax on shipping profits.
EU competition commissioner Margrethe Vestager, however, is said to be challenging the arrangement in a letter to the Greek government last year.
At the same time, key environmental legislation is pending at the EU and the International Maritime Organisation.
Travlos has proved she is able to cope with adversity.
A month or two after she began work in Neptune’s offices, her father left on his first holiday in years.
There were no mobile phones in Greece at that time, and after announcing that he was off to sail around the Greek islands, Nikos Travlos told his daughter: “You can make mistakes. I don’t mind, as long as you learn.”
She rose to the challenge.
