Shipowner Costas Fostiropoulos, founder of maritime outfits Fairsky Shipping & Trading and Almi Tankers, died earlier this week in Greece.

According to a press report, he was 78 years old.

Hailing from a clan with a long tradition in business and banking in Asia Minor that eventually moved to Greece, Fostiropoulos studied mechanical engineering and economics in Germany.

That put him in a position to inherit his family’s car assembly and importing business of Mercedes-Benz vehicles.