Page 12 - Next Generation 2015 - Digtial Issue

Next Generation Europe
Maritime, which has 12 LNG carriers
already on the water and another 18 on
order.
With a science background and a
fascination with technical innovation,
she does not stick purely to the
commercial side but has become
comfortable with technological aspects
of the business.
In terms of further sectors
of shipping that have caught Ms
Angelicoussis’ interest, she is eyeing
the offshore market and floating
storage and regasification units, the
latter being “a natural next step”, given evident from talking with the brothers. father was young. We also have a keen
the group’s major status as an LNG
carrier owner.
She relates that her father counsels story.
sticking with what you know and are
good at, and not spreading oneself “too
thin”. With that in mind, diversification Enesel and London agents N. S. Lemos
into such sectors will not be rushed
into; rather, they are possibilities
“at the right time and with the right
partner”.
Among many aspects that mark the
Angelicoussis Shipping Group out as a
rarity is the fact that it was one of the in philosophy, politics and economics
forerunners of today’s publicly-traded
shipping culture, but later decisively
chose to return to being a privately-held Oxford graduates.
business.
A few years ago, the owner is
reliably said to have again looked
into a potential stock market listing,
at least for the LNG fleet. That is
a classic option when it comes to
succession-planning.
It is a measure of how quickly
Ms Angelicoussis has grown into her
management role that a public listing is
no longer on the radar.
Father and daughter see eye-to-eye
on the subject, she says. “As long as
we have no need to raise equity, our
aligned view is that remaining private
is the best thing for us.
“Before I came on the scene,
maybe there was a natural concern
that there was no succession. But that
issue has been taken away,” adds Ms
Angelicoussis. “I am here to stay.”
12 | Lloyd’s List Next Generation 2015 | www.lloydslist.com
Sixth-generation brothers keep an eye on
handing over to the seventh
Greece
Andonis and Filippos Lemos
ANDONIS and Filippos Lemos being greedy”, a mantra taught from
represent the sixth generation that an early age, and always remaining
is responsible for a family shipping cognisant of the industry’s treacherous
business that dates back to about 1848, nature and profound cyclicality.
originating from the small Aegean
island of Oinousses. But this is not to say that they have
shut themselves into a time-capsule.
A strong sense of continuity, and
of stewardship, in being the latest “We believe that the culture is still
standard bearers of this legacy is as applicable today as it was when our
But this has not prevented them from awareness of history,” the brothers
putting their own stamp on a new say. “As a family, since 1848 we have
chapter they are writing in the group’s never been out of the industry, and,
by learning how our family navigated
through all of those difficult periods
Throughout their prior history, we are by nature cautious first and
foremost and recognise our role as
& Co., or their predecessor companies, service providers to the market, and
were led by sea captains. feel a responsibility towards all those
we work with.”
By contrast, marking a carefully
managed intergenerational shift, They believe it is more difficult
elder brother Andonis is a qualified than ever in today’s culture to
lawyer, while Filippos is a graduate “disconnect yourself from all the
hype and the numbers, and not fall
with experience in financial services into the trap of hubris.” Because of
and investment management. Both are this their business approach places
great importance on deep research,
risk analysis, identification of risk
Their father, Nikolas S. Lemos, mitigation and exit strategies, and,
unequivocally handed them the keys to most importantly, the identification
the shipping business at an early age and recruitment of high quality
and they have now been running the personnel.
operation for longer than many people
realise and are responsible for the
group’s most recent achievements.
Shipping is a calling and a
commitment but it exists alongside
other businesses which have been
founded and carefully developed by
the Lemos brothers, such as physical
commodity-trading, financial investing
and real estate.
Key conservative philosophies
that support the over-arching family
imperative to survive in shipping from
generation to generation include “never