5 - The Vagliano Fleet and Innovation in Ship Management

Summary

A landmark in the Vagliano’s shipping business, was the creation of a hybrid ship management office in London. The multinational dimension of their managing-agency operations made their London office a national bureau of sorts—a conduit enabling Greek shipowners to engage in international business. Essentially, this was a shipping company and agency for the national Greek fleet. Their London office created in 1858 provided the first model of a modern ship-management firm and became the driving force behind the globalization of both Greek-owned shipping and bulk shipping all over the world. The career of Aristotle Onassis was one of the results of the Vaglianos’ innovations. Onassis started his business from one of the twenty London offices that were formed after the death of Panaghi Vagliano. The Vagliano brothers pioneered the transition of Greek-owned shipping from sail to steam. They were prime movers in adopting steamships, launching an unprecedented programme of new ship building in British yards in the late 1870s to early 1880s.