Page 22 - Next Generation 2015 - Digtial Issue
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Next Generation Europe
Signal launch sees one of shipping family’s Advanced analytics won’t eclipse
scions explore impact of maths in the industry more traditional business practices,
such as travelling to meet charterers
Greece Thinking of the markets as living and improve access to cargoes through
Martinos Family organisms, Signal tries to “understand relationships, it “just adds to them”, he
the DNA-like market structure” and maintains.
FEW companies in shipping get the thereafter, as its understanding
chance to genuinely experiment and improves, monetise the capability He also believes all aspects of
innovate, but this was at least part of commercially. the culture inherited in growing up
the reason why Ioannis Martinos set in a well-established shipping family
up his own shipping company, Signal Advanced analytics can improve remain valid, “especially the culture of
Maritime, in 2014. the efficiency of a company’s operation, honouring your word”.
though getting it right can be hard work,
In doing so, he gave up his role he says. In the second quarter of 2015,
of co-chief executive of Thenamaris, Signal’s managed fleet comprised
one of Greece’s most admired shipping While much of the specifics eight vessels, seven of them tankers,
firms, which is now led solely by brother of what the company is doing is including chartered-in tonnage and Mr
Nikolas. proprietary, Mr Martinos says successful Martinos envisages more chartering-in,
implementation can yield performance while awaiting more attractive prices for
The family is no stranger to the idea improvements in the areas of running acquisitions.
of splitting to create breathing space for expenses, energy management and
family members to do their own thing. chartering revenue. The fleet is technically managed
by Thenamaris. Mr Martinos has kept
The previous generation in the By way of example, he estimates a his stake in the family company and,
1990s separated their assets, with mixed tanker fleet operating in the spot despite Signal’s independence, he says
Thanassis Martinos forming Eastern market can benefit by about $1m per there is “a common vision and some
Mediterranean Maritime and Andreas ship per year. collaboration” between the two.
Martinos launching Minerva Marine,
leaving Constantinos — the father “This amount does not necessarily The advantage of having an
of Ioannis and Nikolas — to helm change the course of a shipping established world-class company doing
Thenamaris, the family mothership. company in the short run,” he says. “It the technical management is that “a lot
does, however, add up in the long run.” of difficult things are taken care of and
However, the move to launch Signal we are free to focus on the commercial
was ideas-driven, with the aim to create Mr Martinos, who holds degrees in side and develop new market-related
a company “with a twist… combining mechanical and aerospace engineering tools”, he says.
shipmanagement best practice and from Tufts and MIT, says disarmingly:
advanced analytics”. “It’s not rocket science — I don’t think “It is an opportunity to explore
it’s going to change shipping any some more exotic ideas without taking a
“The shipping industry comprises a time soon. But it’s one more way to significant risk.
collection of fascinating markets,” says improve your revenues and reduce your
Mr Martinos. expenses.” “Maths has crept into all other
industries to some extent. We are
exploring what kind of an impact it can
have in our industry.”
George’s son Christos Greece Some reasons for the busy pace
and nephew Anthony Economou family are readily apparent. The scope of the
group is now huge, and it is diversified in
Kandylidis already INSIDERS say there is never a dull dry bulk, tankers, offshore drilling and
occupy leading roles moment working in the shipping group liquefied natural gas carriers.
in the family’s diverse of entrepreneur George Economou,
and the lively agenda will most Some divisions are public, others
businesses certainly apply to kin who have already traditionally private, while there are
established themselves as key figures in also joint ventures with private equity
the empire, as well as others who may in the LNG carrier operation, and with
follow in the future. an investment bank in the co-owned
shipping pools operation, Heidmar.
22 | Lloyd’s List Next Generation 2015 | www.lloydslist.com
