Nicolas (Nicky) A. Pappadakis

 

«A ship is not just business, it is responsibility, it is life itself»

 

Οn graduating from College, joined family firm of A.G. PAPPADAKIS & CO LTD in London as management trainee progressing through multiple assignments, eventually to head chartering and operations of the family firm and fleet (112.000 TDW O/B/O vessels, 30-60.000 TDW tankers, 40-77.000 bulk carriers, 23.000 TDW multipurpose/ heavy lift vessels – 16.500 cargo Liners and twin deckers at various periods). Before this had served periods at sea as an apprentice on tankers/drycargo/bulkcarrier vessels. Eventually became in charge of the family maritime and aviation interests.

 

Chairman of INTERCARGO, and of the Malta International Shipping Council (Shipowners’ Association under Malta flag).

Chairman of the Greek Committee of RINA.

Immediate past President of the U.S. Propeller Club International Port of Piraeus, member of the current Board of Governors

Vice President of The Hellenic Chinese Chamber of Commerce.

Is a member of the Board of Directors of the:

·Maritime Authority of the Cayman Islands

·Union of Greek Ship-Owners

·Hellenic Committee of Lloyds Register

·Hellenic Committee of Germanischer Lloyd

·Hellenic Committee of American Bureau of Shipping

·Hellenic Committee of Det Norske Veritas

·Mediterranean Committee of China Classification Society

·The London Steam-Ship Owners’ P&I Club Committee

·HELMEPA & INTERMEPA (Hellenic Maritime Protection Association)

He has an ongoing deep concern and commitment for the sea, seafarers and environment.

Mr. Nicky Pappadakis states: «Business is not about papers. It is about trust. In shipping, your word is your charter. If you lose your reputation, you lose everything, people cannot forget that».

Mr. Pappadakis remembers the beginning of his career: «I remember sleeping in the office, traveling for days to see a ship for sale, counting every dollar for spare parts. We had no computers, no telex. Everything was done with a handshake. If you said “I will do it”, you had to do it, even if you lost money. That’s how you built your name. And I built it well, to teach generations to come».

Mr. Pappadakis points out that: «Greek shipping has three advantages no other nation has together. First, the people. We have generations of knowledge. Second, the cluster. In Piraeus we have everything — owners, managers, crew, banks, insurers, lawyers, suppliers. This makes us competitive and fast. Third, resilience. We are conservative when markets are high and brave when markets are low».

Mr. Nicky Pappadakis a shipping magnate with a human touch who is dedicated to serving the maritime industry says «Shipping teaches you humility and respect»

 

Interview to: Georgia Ermidi

As a descendant of a shipping family from Kasos with a significant maritime tradition, your family has written its own history in Greek merchant shipping. Tell me about the maritime and entrepreneurial spirit of your ancestors and about your own important moments.

I am proud to come from Kasos. Kasos is a very small island, but it has one of the biggest maritime histories in Greece.

My ancestors were captains and shipowners with sailing ships in the 19th century. Kasos at that time had more than 100 sailing vessels trading in the Black Sea and the Mediterranean. In 1824 our island was destroyed and burned because Kasiots helped the Revolution. We lost everything, but we started again from zero. This is the spirit of Kasos — we never give up, and we become better from our mistakes.

My father, Antonis Pappadakis, was my teacher. He taught me that a ship is not just business, it is responsibility, it is life itself. That’s why when I was forced to stop working, I got sick all over my body. Thanks to my wife Haidi I’m still alive. She is the best wife I had.

Important moments for me were when my father sent me to Cayman Islands to reach up for sailors they were the best in the world those days, when I first went to sea as a young boy, when we bought our first ship with fear and faith, and later when I had the honor to serve as President of Intercargo, Helmepa, and the Propeller Club of Piraeus — representing not just my family, but all Greek shipping, I succeeded in many ways, thanks God.

 

What do you remember from your beginnings in shipping and what were the biggest challenges in your first steps?

 

My shipping business started in 1947. Greece was destroyed after the war. 

The biggest challenge was that no one trusted anyone. No capital. Banks would not give loans. We had to prove ourselves with work and honesty. Our father left us a great legacy with his actions: To learn how to act in difficult times.

I remember sleeping in the office, traveling for days to see a ship for sale, counting every dollar for spare parts. We had no computers, no telex. Everything was done with a handshake. If you said “I will do it”, you had to do it, even if you lost money. That’s how you built your name. And I built it well, to teach generations to come.

 

As you have dedicated so many years of your life since 1947 to the global shipping industry, what do you have to say about the so-called miracle of Greek shipping?

 

There is no miracle. There is hard work, sacrifice, and intelligence. Respect of our Father’s actions and his orders and the fact that for us shipping is not an investment, it is life itself.

People call it a miracle because they cannot explain it with numbers. But if you lived it since 1947, you know it is the result of generations who loved the ship more than their own comfort.

 

What is the most vivid memory you have of the first ship you remember.

 

I remember the first time we hoisted the Greek flag. My father had tears in his eyes. It was difficult — the engine stopped, the pumps broke. I stayed on board for days with black hands from oil not sleeping at all! I have 7 years on my seaman’s book working on all stages of ships. My twin late brother George studied and became captain of the ship, and I became captain in aviation, plane and helicopter. Though my Father helped me to buy 2 Air Ports in England but used to say that: I am a great charter for ships.

Working in ship taught me that a shipowner must know his ship like his own child. If you take care of your ship, your ship will take care of you. That’s how I could understand their needs.

I could speak with high societies and I could speak with all kind of port workers, they all accepted and respected me the same.

 

From your experience as President of Intercargo, President of Helmepa and President of the Propeller Club of Piraeus, tell us what are the comparative advantages of Greek shipping and what can Greek shipping offer our country?

 

Greek shipping has three advantages no other nation has together.

First, the people. We have generations of knowledge. Second, the cluster. In Piraeus we have everything — owners, managers, crew, banks, insurers, lawyers, suppliers. This makes us competitive and fast. Third, resilience. We are conservative when markets are high and brave when markets are low.

What can we offer our country? Invisible income, thousands of jobs, support for the islands, and we fly the Greek flag around the world. But we need the State to see shipping not as a source of taxation, but as a strategic national industry. If Greece supports its shipping, shipping will always support Greece.

At Intercargo I learned global cooperation, at Helmepa our duty to protect the sea, and at Propeller the power of Greek-American friendship.

 

The Pappadakis family donated to the Coast Guard the unsinkable vessel “Antonis Pappadakis” with which its executives operate in difficult situations. You also donated a ship’s bridge simulator and radar to the Public Merchant Navy High Schools for the advanced maritime education of Greek sailors. Tell me about the reasons that prompted you to take these actions?

 

We did not do these things for publicity. We did them out of duty.

The vessel “Antonis Pappadakis” was named after my father. He taught me that if the sea gave you everything, you must give something back. The Coast Guard saves lives every day. We wanted to give them the best tool — an unsinkable boat.

The bridge simulator for the Merchant Navy Schools is an investment in the future. How can we ask young Greeks to become captains if we don’t give them modern tools to learn? All these actions come from the same idea of my father: you must not forget where you come from, and passed through a crowd not to be recognisable because of the stage of your wealth.

 

You have said that the Greek sailor is one and only and thanks to them, Greek shipping became a global power. Tell me about that.

 

The ship is steel. Without the Greek sailor, it is nothing. I always say it needs two to tango.

The Greek sailor has filotimo. He will stay awake 48 hours to save the ship. He will fix an engine in the middle of the ocean with nothing. He has instinct for the weather and love for his work.

I have seen Greek captains handle situations that no manual can teach. This is why the biggest charterers in the world ask for Greek crews. If today Greek shipping is number one, it is because we had the best sailors in the world.

 

What do you think are the main problems of shipping today?

 

Three main problems. First, over-regulation without global application. We have IMO, EU, US, each with different rules. We need one global regulator — IMO — with realistic rules.

Second, geopolitics. Wars, piracy, sanctions, closure of straits. Shipping is the first victim.

Third, the lack of seafarers. Young people do not want to go to sea. The life is hard, and there is criminalization when an accident happens. If we don’t solve this, in 10 years we will have no crews.

And behind all these, the pressure of decarbonization — how to build ships for fuels that do not exist yet.

 

How do shipowners manage to balance risk in a market characterized by intense cyclicality and changes in freight rates?

 

Shipping is the most cyclical business in the world.

Our father taught us: Be conservative in good times. Don’t buy 10 ships when freight is high. Keep cash aside. Be brave in bad times — that is when you buy well. Don’t be greedy. Fix some ships on time-charter to cover expenses, and leave some on the spot for profit. Keep your ships in top condition — a good ship always finds employment. And have a good relationship with your bank and charterer. Trust pays when the market falls.

The secret is not to make the most money when the market is high. The secret is to survive when the market is low.

 

Shipping is directly affected by international conflicts and geopolitical turmoil. How do you protect your crews and ships in times of crisis?

 

Safety of the crew is always number one. The ship can be replaced, a life cannot.

I used to avoid risk and reroute our vessels even if it costs more. I was in daily contact with security advisors and I supported the seafarers — with extra war bonuses, direct communication with families, and the right for any crew member to disembark if he feels unsafe.

My principle is simple, this is what my father did to me and I send many times my younger son George to work at our ships. He taught me: if you don’t send your own son there, you should not send your crew.

 

How do changes in traditional maritime trade routes affect the geography of cargo and your company's strategy?

 

The map of shipping is changing — with the Red Sea crisis, Panama Canal drought, the war in Ukraine and Hormous Straight.

When traditional routes close, a voyage that took 30 days now takes 45. The demand for ton-miles increases, ports like Piraeus will become more important now.

My strategy has been always to be flexible. We should not tie ourselves to one route. We have a diversified fleet and must keep our ships well-maintained so they can go anywhere, anytime.

 

How do you see the new challenges of shipping, such as the green transition (decarbonization) and technology / artificial intelligence on ships?

 

Two big waves.

Decarbonization is necessary, but we must be realistic. We are asked to invest billions in fuels that do not yet exist at scale. Regulation is ahead of technology. We are investing in efficiency, but we need clear, global rules from IMO, not regional penalties.

Technology and AI will not replace the seafarer, but it will help them. Better routing, better monitoring, better safety. The ship of the future will be smarter, but it will still need a human heart.

 

Shipowners are active in every corner of the planet, what does this teach you? Do you want to tell me an experience?

 

Shipping teaches you humility and respect.

I remember being in a small port in Japan many years ago. We had a problem with the ship and the local people — who we did not know — stayed all night with us to help repair it. No contract, no invoice. Just honor.

That taught me that business is not about papers. It is about trust. In shipping, your word is your charter. If you lose your reputation, you lose everything, people cannot forget that.

 

Mr.Nicky, what do you distinguish as most important in life?

 

Health, good wife, my wife Haidi, I owe my life to her and her son, and peace of mind.

We measure success with ships and tonnage. But at the end of the day, the most important thing is to go home and have your family healthy, to have friends who respect you, and to sleep well knowing you did the right thing.

Money comes and goes. Ships come and go. But your family name stay. Every body loves me because I am the continuation of my Father. I wish for my children to do the same.

 

Three words to describe you?

 

I’m an open book. 

A few people tried to take advantage, but at the end, they recognise I am too hard to swallow.

 

On this day, September 29th, Nicky Pappadakis was born.