By Paul Mazzarulli - 27 Jan. 2020, with grateful assistance by Mike Corey of Southport Maritime and Alan Rowe at MJLF & Associates.

 

A legend of the ship sale & purchase brokerage community, George L. Axiotakis passed away on January 23, 2021 at Yale New Haven Hospital. Best known as a mentor, George spent almost fifty years in the shipping industry, leaving his mark on some of the most well-known names and firms in the brokerage sector, including C. D. Mallory & Co., Glander International Inc., and MJLF & Associates Inc. 

Though versed in brokerage, negotiations, operations, and accounting (the degree he earned from New York University in 1951), George’s true gift was his ability to guide his peers, and in some cases his peers’ children, in the shipping industry, teaching everything from how to read a charter party to never asking for Turkish coffee when visiting a ship run by a Greek captain. Never one to seek out attention or the spotlight, George was always comfortable in a supporting role, even when he was the primary driver behind a transaction, and was happy to share, if not give outright, credit to his coworkers and partners for numerous deals. 

 

Truly a team player

Born in New York City on October 18th 1930, George graduated from New York University and served two years in the U.S. Army. His entry to the shipping industry coincided with the rise of the secondhand market for U.S. military “Liberty Ships” and the rise of the “New York Greeks” and the “London Greeks” in the bulk and tanker markets. In terms of timing, one could not have planned it better - a front-row seat to one of the most monumental developments in the chartering and sale & purchase markets. Initially hired as an accountant at the now defunct Cargo Ships & Tankers Inc., at 17 Battery Place in lower Manhattan, George - along with a devoted group of colleagues and mentees - moved uptown to C. D. Mallory & Co., to oversee operations for time charters and vessel sales. 

While there, his broader skills as a deal facilitator, host, and liaison were immediately apparent, enabling him to be a “utility infielder” operating across multiple disciplines and throughout various roles - often simultaneously - at the firm. (The baseball analogy continued through the years, as he was the coach of MJLF’s CMA-league softball team in the 1990s.) 

 

A multicultural pioneer

Another of George’s skills was the ability to understand the culture and practices of Greek ship owners (especially those from Chios) and establish a comfort level with counterparties in the U.S. At the same time, he developed a long-standing and respected relationship with Iino Lines (Japan-based IINO Kaiun Kaisha Ltd.), becoming one of their most trusted brokers and counselors in the vessel sale & purchase market. The level of mutual respect was apparent when, in 1992, George took a group of MJLF trainees to visit an Iino Aframax tanker discharging crude oil in New Jersey, and was enthusiastically greeted by the master - on direct orders from headquarters in Tokyo to treat him as a top-level VIP. He will also be remembered for introducing countless New Yorkers to true Greek culture by hosting his annual lamb roast, in various office balconies and parking lots. 

 

Witness to the full evolution of ship brokerage

Joining the market when international phone calls were an expense not to be taken lightly, George knew how to keep conversations to the point, but still respect the cultural traditions of whatever nation he was doing business with. At one point able to literally read the outcoming tape from a Telex machine, George navigated the evolution of communications with no fear of future shock. Adapting through the years of international direct-dial, fax machines, and email, he managed to observe the simultaneous shifts in communication patterns along with the complexity of ship design and commercial practices. However, he remained true to his old-school roots and as recently as the early 2000s was not afraid to light a cigar in the “smoke-free” atmosphere of MJLF’s Clearwater House offices in celebration of a masterful transaction. His moxie carried on in political discussions on the brokerage floor, often to the consternation of anyone supporting a counter-opinion. 

 

The Professor

Despite his enthusiasm for a transaction and the joy he always had for the international nature of the shipping business, George’s biggest talent was his ability to mentor up-and-coming young brokers. His ability to understand every aspect of a transaction - ranging from when to give redelivery notice under a time charter to the importance of saving the confirmation of a fax transmission - George imparted a full life-cycle of knowledge whenever dealing with wide-eyed and confused trainees. But he was also unafraid to stand up to co-brokers and even his bosses. Diligently looking over the onboard inventory in a tanker survey, it was quick work for George to deduce who was responsible for a few missing parts, and even easier for him to call them out on it in a way that made them accountable but at the same time amused. 

In 2004, shortly after his retirement from MJLF, George got the call from Peter Georgiopoulos for a special assignment, to handle the delivery of a fleet of dry bulk vessels that Peter had a acquired from Chinese Owners, Top Glory. George was the perfect pair of safe hands to steer this deal to a successful conclusion, and so began Genco Shipping and Trading.

He was among the last of his kind, and joins a fraternity of shipping legends who have permanently left their mark on the industry. 

 

Final notes

He leaves behind his beloved wife of nearly 50 years, Gilda, two sons George and Lukas from his first marriage, and Gilda’s son Theodore (Ted) from her previous marriage, and their extended families.

By coincidence, or by a grander cosmic design, the town of Mystic where George and Gilda have lived in recent years, is where the historic Mallory family had their origins as shipbuilders and owners, going back to 1816. The cycle of influence will undoubtedly continue on another plane.