We focus on, satisfying our clients’ demands, for the benefit of our employees and shareholders, thus fulfilling our corporate social sensitivities and commitments” (Tsakos Group-b, 2010). Owing to its scale and efficiency of operations that are controlled from Bermuda, Panama, Uruguay, England, Romania, Ukraine, Ghana, South Korea, Japan, Philippines and of course Greece (Tsakos Group-c, 2010), and through a commendable fleet of seventy eight ships (Tsakos Group-d, 2010) that consist of tankers, LNGs, dry cargo vessels and containers, the company currently enjoys a position among the top three Greek companies that are involved in ship management. Moreover, Tsakos is globally significant by being counted among the ten leading tanker companies.
It has been observed that the political environment prevailing in Greece is largely stable, albeit “Greece has long been at odds with its close neighbour, Turkey, over territorial disputes in the Aegean and the divided island of Cyprus” (BBC, 2010). Despite the fact that in terms of per capita GDP Greece ranks globally 26th, the recent financial crisis has taken a toll on the nation’s economy and “Greece continues to face a large competitiveness gap which has been accompanied by a marked deterioration in the external current account balance” (Honjo & Chua, 2008, pp.2). The social tenets of Greece are quite strong and its people are mostly religious. High rates of literacy make the nation competent enough to make forays into the global arena in terms of trade and economy. It is a noteworthy fact that there has been a strong and almost inseparable association between Greece and the art and trade of shipping, since time immemorial. Owing to this fact, maritime trade has remained a key component of the Greek economy since ages. The significance of shipping to Greece can be appreciated from the words of Capt. Panagiotis N. Tsakos, who himself hails from a family associated with this business