Epirotiki Line
Encyclopedia
Epirotiki Line was a shipping company that operated from the mid 1850s to the late 1990s. Epirotiki Line operated mainly cruise vessels, but also operated a variety of other vessels such as cargo and tanker vessels.
between the island of Cephalonia
the city of Brăila
. Assisting Anastassios was his nephew, Giorgos Potamianos. When Anastassios Potamianos died in 1902 Giorgos undertook the management of the company and took the emblem of the Byzantine Cross as the company's trademark, and changed the company name to Epirotiki. In 1916 Giorgos moved to the new centre of shipping of Piraeus
, acquiring his first steam powered ship. By 1926 the company owned 15 passenger vessels ranging between 800 to 1500 GRT.
, Piraeus
was destroyed by German air attacks on the city. Only one vessel was saved, the G.Potamianos, which was appropriated by the Allies. At the conclusion of the war Epirotiki began its revival with the acquisition of three ships, ushering in its modern era.
, Greek Islands and Eastern Mediterranean
. Acquisitions of vessels such as Semiramis, Pegasus (I) and Hermes helped in the company's expansion. In the 1960s, Epirotiki continued to expand its operation, adding a number of Caribbean
destinations. Vessels acquired in this period included the Argonaut, Jason, Apollon (I) and Poseidon among others. The cruise industry grew quickly in the 1970s, and Epirotiki became the largest cruise ship company in Greece and the Eastern Mediterranean with additions to its fleet such as the Jupiter, Oceanos
, World Renaissance, Odysseus, Mistral, Pegasus (II) and Triton. Epirotiki's fortunes faltered throughout the 1980s and early 1990s. During this period the company diversified into dry cargo carriers and crude oil tankers under separate management. Fears of terrorism
diminished the tourist market and a series of incidents took their toll on the company. In 1988 the Jupiter was struck and sunk by a freighter near Piraeus
. In 1989 a passenger was killed by an unsecured hatch aboard the Neptune and the Odysseus was forced to harbor in Portugal
after it began taking on water. In 1991 an explosion and fire sunk the company's flagship Pegasus (II) in Venice
harbour, and two months after this the sinking of the Oceanos
off the South African coast. With less tourists travelling due to wars and recession, and other pressures on the company, Epirotiki sought to solidify its position through partnerships and mergers. In 1993 Epirotiki made a partnership with Carnival Cruise Lines
, agreeing to purchase ships from Carnival in exchange for shares in Epirotiki. The company acquired the vessels Pallas Athena, Olympic
and Apollon (II)
at this time, but by 1995 the partnership had collapsed in the face of Greek cabotage rules. In August 1995 Epirotiki agreed to merge its operations with Sun Line, creating a new company named Royal Olympic Cruise Lines. Initially maintaining its two brand names, Royal Olympic Cruise Lines began planning a public offering
of the company in 1997. The company restructured
its holdings, creating a new entity, Royal Olympia Cruise Lines, and listed on the NASDAQ stock exchange
(ROCLF) in 1998.
Foundation
Anastassios Potamianos began his first shipping venture in 1850 transporting cargo and passengers along the River DanubeDanube
The Danube is a river in the Central Europe and the Europe's second longest river after the Volga. It is classified as an international waterway....
between the island of Cephalonia
Kefalonia
The island of Cephalonia, also known as Kefalonia, Cephallenia, Cephallonia, Kefallinia, or Kefallonia , is the largest of the Ionian Islands in western Greece, with an area of . It is also a separate regional unit of the Ionian Islands region, and the only municipality of the regional unit...
the city of Brăila
Braila
Brăila is a city in Muntenia, eastern Romania, a port on the Danube and the capital of Brăila County, in the close vicinity of Galaţi.According to the 2002 Romanian census there were 216,292 people living within the city of Brăila, making it the 10th most populous city in Romania.-History:A...
. Assisting Anastassios was his nephew, Giorgos Potamianos. When Anastassios Potamianos died in 1902 Giorgos undertook the management of the company and took the emblem of the Byzantine Cross as the company's trademark, and changed the company name to Epirotiki. In 1916 Giorgos moved to the new centre of shipping of Piraeus
Piraeus
Piraeus is a city in the region of Attica, Greece. Piraeus is located within the Athens Urban Area, 12 km southwest from its city center , and lies along the east coast of the Saronic Gulf....
, acquiring his first steam powered ship. By 1926 the company owned 15 passenger vessels ranging between 800 to 1500 GRT.
World War II
During World War IIWorld War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
, Piraeus
Piraeus
Piraeus is a city in the region of Attica, Greece. Piraeus is located within the Athens Urban Area, 12 km southwest from its city center , and lies along the east coast of the Saronic Gulf....
was destroyed by German air attacks on the city. Only one vessel was saved, the G.Potamianos, which was appropriated by the Allies. At the conclusion of the war Epirotiki began its revival with the acquisition of three ships, ushering in its modern era.
Modern era
From the early 1950s Epirotiki Line steadily grew its fleet and service. Epirotiki focused entirely on the cruise ship market and started round trip cruises operating in the Aegean SeaAegean Sea
The Aegean Sea[p] is an elongated embayment of the Mediterranean Sea located between the southern Balkan and Anatolian peninsulas, i.e., between the mainlands of Greece and Turkey. In the north, it is connected to the Marmara Sea and Black Sea by the Dardanelles and Bosporus...
, Greek Islands and Eastern Mediterranean
Mediterranean Sea
The Mediterranean Sea is a sea connected to the Atlantic Ocean surrounded by the Mediterranean region and almost completely enclosed by land: on the north by Anatolia and Europe, on the south by North Africa, and on the east by the Levant...
. Acquisitions of vessels such as Semiramis, Pegasus (I) and Hermes helped in the company's expansion. In the 1960s, Epirotiki continued to expand its operation, adding a number of Caribbean
Caribbean
The Caribbean is a crescent-shaped group of islands more than 2,000 miles long separating the Gulf of Mexico and the Caribbean Sea, to the west and south, from the Atlantic Ocean, to the east and north...
destinations. Vessels acquired in this period included the Argonaut, Jason, Apollon (I) and Poseidon among others. The cruise industry grew quickly in the 1970s, and Epirotiki became the largest cruise ship company in Greece and the Eastern Mediterranean with additions to its fleet such as the Jupiter, Oceanos
Oceanos
MTS Oceanos was a French-built and Greek-owned cruise ship which sank off South Africa's eastern coast on 4 August 1991. Launched in July 1952 by Forges Chantiers de la Gironde in Bordeaux as the Jean Laborde, it was the last of four sister ships built for Messageries Maritimes. The ships were used...
, World Renaissance, Odysseus, Mistral, Pegasus (II) and Triton. Epirotiki's fortunes faltered throughout the 1980s and early 1990s. During this period the company diversified into dry cargo carriers and crude oil tankers under separate management. Fears of terrorism
Terrorism
Terrorism is the systematic use of terror, especially as a means of coercion. In the international community, however, terrorism has no universally agreed, legally binding, criminal law definition...
diminished the tourist market and a series of incidents took their toll on the company. In 1988 the Jupiter was struck and sunk by a freighter near Piraeus
Piraeus
Piraeus is a city in the region of Attica, Greece. Piraeus is located within the Athens Urban Area, 12 km southwest from its city center , and lies along the east coast of the Saronic Gulf....
. In 1989 a passenger was killed by an unsecured hatch aboard the Neptune and the Odysseus was forced to harbor in Portugal
Portugal
Portugal , officially the Portuguese Republic is a country situated in southwestern Europe on the Iberian Peninsula. Portugal is the westernmost country of Europe, and is bordered by the Atlantic Ocean to the West and South and by Spain to the North and East. The Atlantic archipelagos of the...
after it began taking on water. In 1991 an explosion and fire sunk the company's flagship Pegasus (II) in Venice
Venice
Venice is a city in northern Italy which is renowned for the beauty of its setting, its architecture and its artworks. It is the capital of the Veneto region...
harbour, and two months after this the sinking of the Oceanos
Oceanos
MTS Oceanos was a French-built and Greek-owned cruise ship which sank off South Africa's eastern coast on 4 August 1991. Launched in July 1952 by Forges Chantiers de la Gironde in Bordeaux as the Jean Laborde, it was the last of four sister ships built for Messageries Maritimes. The ships were used...
off the South African coast. With less tourists travelling due to wars and recession, and other pressures on the company, Epirotiki sought to solidify its position through partnerships and mergers. In 1993 Epirotiki made a partnership with Carnival Cruise Lines
Carnival Cruise Lines
Carnival Cruise Lines is a British-American owned cruise line, based in Doral, Florida, a suburb of Miami in the United States. Originally an independent company founded in 1972 by Ted Arison, the company is now one of eleven cruise ship brands owned and operated by Carnival Corporation & plc...
, agreeing to purchase ships from Carnival in exchange for shares in Epirotiki. The company acquired the vessels Pallas Athena, Olympic
Empress of Britain
RMS Empress of Britain was a transatlantic ocean liner built by Fairfield Shipbuilding at Govan on the Clyde in Scotland in 1905-1906 for Canadian Pacific Steamship . This ship -- the first of three CP vessels to be named Empress of Britain -- regularly traversed the trans-Atlantic route between...
and Apollon (II)
Empress of Canada
RMS Empress of Canada or Empress of Canada may refer to one of the following ships of the Canadian Pacific Steamship Company:, a 21,517-ton ship built in Glasgow, Scotland; Vancouver-based ship served the Far East; served as troopship in World War II; torpedoed and sunk off Africa by an Italian...
at this time, but by 1995 the partnership had collapsed in the face of Greek cabotage rules. In August 1995 Epirotiki agreed to merge its operations with Sun Line, creating a new company named Royal Olympic Cruise Lines. Initially maintaining its two brand names, Royal Olympic Cruise Lines began planning a public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
of the company in 1997. The company restructured
Restructuring
Restructuring is the corporate management term for the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs...
its holdings, creating a new entity, Royal Olympia Cruise Lines, and listed on the NASDAQ stock exchange
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
(ROCLF) in 1998.
Cruise Ship Operations
- Apollon (II) - Laid down as the Empress of CanadaRMS Empress of Canada (1961)RMS Empress of Canada was an ocean liner built in 1961 by Vickers-Armstrongs, Walker-on-Tyne, England for the Canadian Pacific Steamship Company. This ship, the third CP vessel to be named Empress of Canada, regularly traversed the transatlantic route between Canada and Europe for the next decade...
in 1959 - Odysseus - Laid down as the Princesa Isabel in 1961
- Olympic - Laid down as the Empress of Britain in 1956
- Olympic Countess - Laid down as the Cunard CountessCunard CountessOcean Countess is a cruise ship owned by Majestic International Cruises of Greece, on long-term charter to the UK-based Cruise & Maritime Voyages. She was completed in 1976 as the '4-star - Premium' style Cunard Countess for Cunard Line. Cunard Countess had an almost identical sister ship Cunard...
in 1974 - Olympic Voyager - Laid down in 2000
- Orpheus - Laid down as the Munster (IV) in 1948
- Stella Maris II - Laid down as the Bremerhaven in 1960
- Stella Oceanis - Laid down as the Aphrodite in 1965
- Stella SolarisSS Stella SolarisSS Stella Solaris was an ocean liner built for the Messageries Maritimes in 1952...
- Laid down as the Cambodge in 1953 - Triton - Laid down as the Cunard Adventurer in 1971
- World Renaissance - Laid down as the Renaissance in 1966
Notable events
- On the 2 June 1991 an explosion and fire sunk the company's flagship Pegasus (II) in VeniceVeniceVenice is a city in northern Italy which is renowned for the beauty of its setting, its architecture and its artworks. It is the capital of the Veneto region...
harbour. - On the 3 August 1991 off the Wild Coast, Eastern Cape, South AfricaEastern CapeThe Eastern Cape is a province of South Africa. Its capital is Bhisho, but its two largest cities are Port Elizabeth and East London. It was formed in 1994 out of the "independent" Xhosa homelands of Transkei and Ciskei, together with the eastern portion of the Cape Province...
, the OceanosOceanosMTS Oceanos was a French-built and Greek-owned cruise ship which sank off South Africa's eastern coast on 4 August 1991. Launched in July 1952 by Forges Chantiers de la Gironde in Bordeaux as the Jean Laborde, it was the last of four sister ships built for Messageries Maritimes. The ships were used...
began taking on water, and had lost power following an explosion in the engine room. The ship sank but with no loss of life due to a successful rescue effort. The sinking caused a large controversy with allegations that the captain and crew had abandoned the passengers and left the onboard entertainers to co-ordinate the evacuation of the ship. Further controversies involved the maintenance level and general seaworthiness of the vessel.