Epirotiki Line - Modern Era

Modern Era

Initially Epirotiki focused entirely on the cruise ship market and started round trip cruises operating in the Aegean Sea, 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. During the 1980s and after the company diversified into dry cargo carriers and crude oil tankers under separate management.

In the marine tourism sector Epirotiki solidified its position through partnerships and mergers. In 1993 Epirotiki made a partnership with Carnival Cruise Lines, purchasing ships from Carnival in exchange for shares in Epirotiki. The company acquired the vessels Pallas Athena, Olympic and Apollon (II).

Around the same time, however, the company faced difficulties, as three of its cruise ships (Jupiter, Pegasus, and Oceanos) sank between 1988 and 1991.

In 1995 Epirotiki merged 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.

In 2001 Louis Cruise Lines, a member of the Louis Group of Companies, purchased the shares in Royal Olympic Cruises, and the ROCL management passed to the Louis Group.

Read more about this topic:  Epirotiki Line

Other articles related to "modern era, modern":

Santa Rosa, California - History, Growth and Development - Modern Era
... City Council adopted the City's first modern General Plan in 1991, the population was about 113,000 ...
Chatham Anglers - History - The Modern Era
... Chatham has seen significant success in the league's modern era, winning a total of five Cape League Championships ... They began the modern era by reaching the Cape League championship series for four consecutive years ...
History Of Corsica - Modern Era - First World War and After
... The civilian population was correspondingly pro-allied ... Prisoners of war were sent to Corsica ...
Michaelsberg Abbey, Siegburg - History - Modern Era
... In 1941 the abbey was again dissolved, this time by the Schutzstaffel (SS) the monks were expelled and the buildings commandeered ... The buildings were almost completely destroyed by a bombing raid in 1944, although they were in use as a military hospital and flying the flag of the Red Cross ...
Poggio Picenze - History - Modern Era
... In 2009, Poggio Picenze would suffer fatalities from an earthquake that occurred at 332 local time (132 UTC) on 6 April 2009, and was rated 5.8 on the Richter scale and 6.3 on the moment magnitude scale its epicenter was near L'Aquila, the capital of Abruzzo, which together with surrounding villages suffered the most damage ... There have been several thousand aftershocks since, and more than thirty of which had a Richter magnitude greater than 3.5 ...

Famous quotes containing the words era and/or modern:

    Erasmus was the light of his century; others were its strength: he lighted the way; others knew how to walk on it while he himself remained in the shadow as the source of light always does. But he who points the way into a new era is no less worthy of veneration than he who is the first to enter it; those who work invisibly have also accomplished a feat.
    Stefan Zweig (18811942)

    Insurance. An ingenious modern game of chance in which the player is permitted to enjoy the comfortable conviction that he is beating the man who keeps the table.
    Ambrose Bierce (1842–1914)