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The corporate history of the Group in shipping began in 1937 when Diamantis J. Pateras, represented by his elder son, John, jointly formed the company “LEMOS & PATERAS LTD” in London, with the Lemos family.
During World War II, a large part of the Fleet was lost to enemy action – read more about “DIAMANTIS” vessel
https://uboat.net/allies/merchants/ship/54.html
After the War, when the U.S.A. disposed of “LIBERTY” ships to Greek Owners at reduced prices and with favourable financing terms to replace their heavily depleted Merchant Marine, 12 of these LIBERTY’S were acquired and managed by the Company to lay the foundations of a new fleet (photo of “GLADIATOR”).
In 1948 the Group expanded to New York under the initiative of Costas D. Pateras and set up an owning and trading company called “NAUTILUS SHIPPING CORPORATION” involved in the oil and tanker trades.