London: Elias Tsakos, founder of Piraeus-based Entrust Maritime, has passed away after a short period of ill health.
His funeral will take place in Karadamyla on the island of Chios (pictured) on Saturday, with a memorial service to be held in Piraeus at a later date.
The brother of Capt Panagiotis Tsakos, Elias was born and raised on the island of Chios. From there, he left for Athens to attend the Merchant Marine Engineering Academy of Aspropyrgos, from which he graduated in 1961.
At sea, Tsakos worked his way through the ranks from engine cadet to chief engineer, and worked as superintendent engineer for the Aegis Shipping.
During this time, he continued to study and achieved engineering diplomas in both steam turbine and diesel engines, and attended post-graduate engineering courses in the UK.
In 1970, Tsakos returned to Athens and established Tsakos Shipping and Trading with his brother Captain Panagiotis N Tsakos and his cousin Captain Pantelis Efthimiades.
In his position as senior superintendent engineer, Tsakos took delivery of 28 second-hand ships, some of which had been acquired in lay-up and others in poor working condition. He became the company’s technical manager in 1981, followed by marine manager.
In 1985, Tsakos was promoted to CEO of Tsakos Shipping and Trading, a position he held for five years.
He went on to found ship management company Entrust Maritime in 1990, which today manages one panamax bulk carrier and two handymaxes.