Peace between labor & management⁴⁸ (ownership)

Increased productivity by automation, pre-fabrication, “learning by doing”; no rivets (1969); attracting export ship orders (especially between 1961 & 1971)

Bank finance (*); subsidies (1964); 1961: 70% to be paid in 7 years; 1966: 80% in 8 years

Improved quality

Large sizes could be built; adaptive ability to the new technological advances & automation

The cost of building did not increase; yards produced in three 8-hours shifts of 24 hours

(*) Special treatment had the tankers to be built under long time charters from oil companies (1966)

1960-67: Large yards bought the smaller ones; & one large one merged with other large one; a consolidation era

1961-64: Greeks ordered 72 ships (~2.3 m GRT); their 246 ships priced at $1b (1961)

1949-64: Japan built 13.5 m GRT for exports; 42% was for Greeks 5.7 m (65% tankers)

1963: the 2^nd ship export boom; 1965: the 3^rd ship export boom