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Monday, July 22, 2024

DSME Honors John Angelicoussis

Maritime Activity Reports, Inc.

April 12, 2023

Daewoo Shipbuilding & Marine Engineering CEO Park Doo-seon (front right) and Marangas site manager Panos Nikolaidis (front left) are attending a ceremony to commemorate the late John Angelicoussis.

Daewoo Shipbuilding & Marine Engineering CEO Park Doo-seon (front right) and Marangas site manager Panos Nikolaidis (front left) are attending a ceremony to commemorate the late John Angelicoussis.

Daewoo Shipbuilding & Marine Engineering (DSME) has held a tree planting ceremony in honor of the late John Angelicoussis who passed away in 2021.

The ceremony included the unveiling ceremony of a plaque engraved with the picture of the former of Angelicoussis Group who is held in high regard by the shipyard particularly because he offered support whenever DSME was in need. This included support through the dissolution of Daewoo Group in 1998, the Lehman Brothers financial crisis in 2008, and the liquidity crisis that continued from 2015.

Angelicoussis was born in Piraeus in 1948. He graduated from Athens University of Economics and Business and then completed the MBA programme at the Massachusetts Institute of Technology. He began his shipping career in 1973 and became President and CEO of the Angelicoussis Shipping Group in 1989. When he died in 2021, the Group owned 151 ships including bulk carriers, tankers and LNG carriers.

DSME employees fondly remember him as friendly enough to be called by the nickname “Mr. Ahn.”

In recognising its 30-year relationship with Angelicoussis Group, DSME said its largest customer has ordered as many as 121 ships since 1994, the world record for the number of orders placed between a single shipping company and a single shipyard. 110 out of 121 vessels were delivered successfully, and 11 LNG carriers are currently being built at the Okpo shipyard.

Since 2021, DSME has maintained a close relationship with Maria Angelicoussis, who took office as the third chairman of the Angelicoussis Group. She has maintained the close relationship with the yard, for example, including a donation of $2 million to be used for the welfare of executives and employees when the company was struggling due to rising steel prices and the global economic downturn last year.