Company profile & activities

Evolution of the Group

The company was founded by Nikolaos M. Tsangaris (NMT) a Captain of the Merchant Marine and the heirs of his late brother George M. Tsangaris (GMT). The family's roots with Shipping go back to the late 19th-early 20th century in Kardamyla of Chios when Michael Tsangaris, their father bought his first sail boat. The two brothers thereafter served as captains of smaller vessels and then of oceangoing vessels.

On the larger vessels the majority of their seagoing experience was gained as captains from the 1940's in the J. M. Carras Group of companies. From the 1950's they held top managerial positions in their New York and Japan offices, also supervising one of the biggest newbuilding programmes of that time.

The family ventured into shipowning in 1965 with the acquisition of the M.V. “Avra Liberty” a 10,000 Dwt bulk carrier. Over the years the company concentrated on the tanker sector and since 1985 on the geared panamax segment, building a sizeable fleet and valuable relationships with major charterers, establishing itself as one of the leading operators.

When Captain George Tsangaris passed away in 1984, Nikolaos M. Tsangaris took control of the company and established in 1989 TSANGARIS BROS Ltd. in Piraeus (a Shipping Company under Law 89).

TSANGARIS BROS LTD. has been certified by LLOYD'S with ISO 9001 Certificate since 2000 for the management of vessels and the carriage of dry bulk cargo. In July 2002 the company began to offer chartering as well third party management services.

Management of the Group

Managing Directors of the company are Markos N. Madias (64) and Michael N. Tsangaris (35).
Mr. Madias is an Engineer of the Merchant Marine who has worked as Chief Engineer on vessels of J.M.Carras from 1973-1989 and thereafter joined Tsangaris Bros as a Management Executive. For the last twelve years he has been elected member of the Board of Directors of Hellenic Chamber of Shipping.
Michael N. Tsangaris is the son of Capt. Nicholas Tsangaris, a graduate of the Aspropyrgos Merchant Marine Academy and a holder of the Diploma in the Commercial operation of shipping (London Guildhall Uni.). He has extensive experience of over 10 years as an S&P and Chartering broker working for Unisea Ltd. in London and Carriers Chartering in Piraeus.

The Chartering and Insurance department is staffed by the other two sons of Captain Tsangaris. Chartering department is headed by George N. Tsangaris (32). He is a graduate of Liverpool John Moore's Univ., with a BA in Marine operations and management and holds an HND in Maritime Studies. His previous working experience is with Carriers as a Chartering broker, and Hellenic Mutual Hull Association. The insurance department is headed by Elias N. Tsangaris (28), who has completed his Maritime studies in Liverpool John Moore's Univ. He has worked for Allied shipbrokers in Piraeus and Britannia Insurance Brokers.

The operations, technical and crew departments are all staffed by well experienced individuals who have been with the Group since its inception in 1989 and some even before, when they worked for J.M.Carras, serving as Captains and Engineers on board many of the vessels of the Group.

Current fleet




Year built

Country built

m.v. “Eleni T.”





m.v “Niki T.”





m.v “Captain T.”





m.v. "TANTA T."




China (Hongxin S/Y)


The company is looking to further renew/grow its fleet with modern tonnage, taking advantage of opportunities in the Handysize second hand sector as well as placing newbuilding orders with prime yards.

In March 2007 Tsangaris Bros Ltd. created a wholly owned subsidiary, Tsangaris Bros Investments S.A. (Hellenic entity) in order to diversify into prime real estate acquisitions (commercial/residential/development land), to proceed into selective investments in high growth sectors outside shipping and manage the Corporate wealth.

Tsangaris Bros LTD