In 1934, the two brothers, Georgios and Nikolaos Angelakis, founded a merchant and trading business at the port of Sitia in Crete. Originally the business mainly involved the trading of olive oil, agricultural products, cement and other construction materials.
By the late 1940s, the brothers moved their principal business activities to Piraeus, having acquired their first motor ships. The Company expanded in the 1960s and 1970s by acquiring and operating larger Tweendeckers, Multipurpose vessels and Bulk Carriers.
By the early 1980s, the Company owned and operated 15 vessels, both second-hand and newbuilding. Today, three generations later, the Company continues its activities in the dry bulk sector, with its fleet trading worldwide and delivering all types of dry bulk cargoes and commodities.