All Marine Spares International, LLC is an International Maritime Machinery Specialist that focuses on the study and supply of American, European, Korean, Japanese, and Chinese-made machinery systems for the shipping, offshore, navy, and shipbuilding sectors. The company’s specialty is mechanical machinery. All Marine Spares represents over 30 manufacturers who are Industry Leaders themselves, located around the world for various commodities. Theodosios (Ted) D. Panourgias, is the owner of All Marine Spares.
Revenue Growth 2022
Inspired by his Father
From a maritime family in Kastoria, Greece, Ted has a rich history in the shipping industry. His father, Dimitrios Panourgias, had an impressive career, starting with the Greek Navy and eventually obtaining a Master Mariner License. He led operations for renowned vessel owners like Hellenic Lines, Sealand, AP Moeller, and Maersk in Port Elizabeth, New Jersey. Inspired by this, Ted embarked on his entrepreneurial journey at the age of 23, co-founding Marine Technical Services in Staten Island, NY with his godfather. Despite achieving over $1 million in revenue within a year, unfortunate circumstances led to the business's closure. However, this setback fueled his determination to establish his own venture. At 26, Ted founded All Marine Spares International and quickly gained a global reputation for excellence.
Diving Deeper into the Loand World
“Working at CTSBDC exposed me to more resources and opportunities, I received an intellectual resource with experience in areas that I did not have. It was a valuable support for me”, said Ted. He also notes that he was introduced to some of the networks associated with various individuals and received new ideas to think about that he may not have thought of before, opportunities offered by the SBA and CT State.
Our Business is Booming!
“The last 2 years were excellent years for AMSI, with exponential growth year over year. We are confident with our projections for 2023. We are very excited about our prospects for the next decade”, says Ted.
All Marine Spares successfully raised nearly $973,900 in funding, including COVID-19 emergency financing, which helped stabilize the business and position it for growth. An important part of Ted’s growth plan was exporting. For help with that goal, he turned to Denise Whitford of the Connecticut Small Business Development Center. Denise helped Ted compile industry and market trends understand the regulatory environment in his target markets and explore financing options.
The results have been promising. All Marine Spares achieved a solid 9.9% increase in exports and an 8% increase in sales. These impressive growth figures highlight the company's success in expanding its market reach and capturing new opportunities.
“Ted’s commitment to his customers has been unwavering since we first met. He’s remained open and alert to new market opportunities and has skillfully put people and processes in place to develop his goals. It was such a pleasure to work with him and see business flourish as an international leader.”, says Denise.
CTSBDC is willing to Help Your Business!
“Denise has a well-thought-out business mind and incredible experience to lean on. She has been methodical with her planning and scheduling meetings with us and keeping on top of plans and goals. Not to mention the constant follow-up.”, highlights Ted.
Ted highly recommends taking immediate action and reaching out to us to schedule a meeting. By doing so, anyone can explore how the CTSBDC can assist you and connect with the right advisor who can address your specific needs. Ted assures that although it may require some effort initially, the investment will undoubtedly yield positive results in the long run.