Cruising Into The 1950s
Royal Olympic Cruise Lines was created in 1995 following the merger of two well-established, family-owned cruise ship operators, Epirotiki and Sun Line. Both companies had begun cruise operations in the Greek islands during the 1950s, at a time when Greece began developing itself as a modern tourist destination in the postwar era. Epirotikis operations stretched back to 1830, when it was founded as a shipping company by George Potamianos, making it one of the worlds oldest continuously operating shipping lines. Epirotiki went on to develop a leading position in the Greek cargo and passenger transportation trade, and began operating cruises among the Greek islands in the 1930s. In the 1950s, Potamianoss grandson, Anastassios, took over the direction of the company and focused it entirely on the cruise ship market, which was then undergoing a transformation from being a privilege of the wealthy to becoming a common vacation option affordable to the larger, middle-class traveling public.
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Royal Olympic Cruise Lines Inc
NAIC:Company Perspectives:Key Dates:1830:1954:1958:1994:1995:1998:1999:2000: Olympic Voyager.2002: Olympic ExplorerCompany History:
Cruising into the 1950s
Royal Olympic Cruise Lines was created in 1995 following the merger of two well-established, family-owned cruise ship operators, Epirotiki and Sun Line. Both companies had begun cruise operations in the Greek islands during the 1950s, at a time when Greece began developing itself as a modern tourist destination in the postwar era. Epirotiki’s operations stretched back to 1830, when it was founded as a shipping company by George Potamianos, making it one of the world’s oldest continuously operating shipping lines. Epirotiki went on to develop a leading position in the Greek cargo and passenger transportation trade, and began operating cruises among the Greek islands in the 1930s. In the 1950s, Potamianos’s grandson, Anastassios, took over the direction of the company and focused it entirely on the cruise ship market, which was then undergoing a transformation from being a privilege of the wealthy to becoming a common vacation option affordable to the larger, middle-class traveling public.
Merging to Mediterranean Leadership in the 1990s
International Directory of Company Histories, Vol. 52. St. James Press, 2003.
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Merging To Mediterranean Leadership In The 1990s
In 1993, Carnival agreed to sell one of its ships to Epirotiki in exchange for a 17 percent stake in the Greek company. That agreement was meant as the first phase of a multistep transaction that would eventually give control of Epirotiki to Carnival. In 1994, the two companies carried out the second phase of the deal, transferring a second Carnival vessel to Epirotiki, and bringing Carnivals shareholders position up to 43 percent. At that point, Epirotiki restructured its management, appointing the Potamianos brothers cochairmen, and bringing in a new CEO, Pam Conover, who had formerly headed up Citicorps shipping operations. But Conovers management style quickly clashed with that of the Potamianos family. Conover was briefly removed from her position at Epirotiki, but at the beginning of 1995, Carnival stepped up its position, increasing its holding to 49 percent. Although 51 percent remained with Epirotiki, a significant part of that stake was in fact held by Carnival ally Paris Katsoufis, a Greek-born American citizen, who now took on the position as chairman of the boardrelegating the Potamianos brothers to the honorary positions of chairman emeriti.
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About The Royal Olympic Cruise Lines Inc Stock Forecast
As of 2022 July 29, Friday current price of ROCLF stock is 0.000100$ and our data indicates that the asset price has been in a downtrend for the past 1 year .
Royal Olympic Cruise Lines stock price has been showing a declining tendency so we believe that similar market segments were not very popular in the given period.
Our site uses a custom algorithm based on Deep Learning that helps our users to decide if ROCLF could be a good portfolio addition. These predictions take several variables into account such as volume changes, price changes, market cycles, similar stocks.
Future price of the stock is predicted at 0.056139560207597$ after a year according to our prediction system.
This means that if you invested $100 now, your current investment may be worth 56139.56$ on 2023 July 29, Saturday.
This means that this stock is suited as a new addition to your portfolio as trading bullish markets is always a lot easier.
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Discover Strong Past Performing Companies
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- While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access Royal Olympic Cruise Lines’s filings and announcements here.