Based on the experience, the commercial and moral standards acquired and the acceptance gained over the years by the N.TZOUVANAKIS GROUP OF COMPANIES on the international trading markets, Chr. Tzouvanakis created VESTALCO TRADING & SHIPPING SERVICES in 1984.

With this aim and on the basis of the close relations developed over the years with ex USSR Republics State Organisations/ companies as well as with the private sector, the company established c o n s i g n ment stocks in Odessa, Novorossiysk and Batumi.

In the long run and in order to cover the ever increasing needs of its clients, a new company was created in 1988, the VESTALCO SHIPBUILDING & GENERAL REPAIRS CO LTD, whose sole purpose was to carry out repairs on vessels owned by its clients/Shipowners, especially at its repair workshops/units in Greece.

The above two successful activities gained the reliability, high standards and competitiveness in the prices of services rendered; this led their various clients/ Owners to demand further cooperation and as a result a new company was founded in 1990 - one that would undertake the chartering and management of the various clients’ ships - the VESTALCO SHIP MANAGEMENT SA.

This last activity developed the need to offer some other/ additional services to vessels that were under the chartering or management wing of VESTALCO SHIP MANAGEMENT SA. One of these services was the supply of bunkers (Bunkers/Lubricants) to these vessels.

This led, in 1985, to a representation agreement with VESTOIL. Owing to the very good performance demonstrated in the course of this activity, VESTOIL broadened its clientele especially with Greek-interest vessels (who are considered as the most competitive and hard bargaining clients). Within a few years, this resulted in the number of 1500 vessels per year being supplied on a worldwide basis.

During the last 1,5 to 2 years VESTOIL commenced and continues with immense reliability its efforts to create a similarly good reputation in the trading of oil cargoes, activity which includes the chartering of vessels for relevant transportations with the cooperation of VESTALCO SHIP MANAGEMENT SA.

From the above brief presentation it is obvious that not only the purposes for which these companies were created have succeeded and are still going strong after a period of over 20 years, but it has also become self-evident that in the course of the above companies’ sound/solid performance, provisions have been set for yet further expansion into fields required by their numerous clients.