What Franman does

Franman is a privately held maritime services company founded in 1991 by Costis J. Frangoulis and headquartered in Athens, Greece. It operates on the Japanese Trading House "one-stop-shop" model, functioning as an intermediary that connects shipping companies with a global network of equipment manufacturers and suppliers. The company runs seven divisions: Shipbuilding Equipment (principal representation), Spare Parts, Ship Repairs, Service (after-sales technical support), Ship Supplies, Maritime Security, and Underwater Services. It holds exclusive agency agreements with 130+ equipment principals across Japan, South Korea, China, Europe, and the US, and serves 700+ shipping companies through its Cyprus subsidiary and Japan liaison office.

The core offering is representation and distribution rather than proprietary technology. Revenue is generated through transaction-based commissions on equipment sales, hardware sales of OEM spare parts and ship supplies, and professional services (dry-docking coordination, security management, underwater inspections via a network of 161 providers across 69 countries). Franman has equipped 5,500 newbuildings and delivered 17,500 equipment units over its 33-year history. The go-to-market is sales-led, combining field sales representatives with channel partnerships, supported by participation in maritime industry events such as Posidonia. There is no proprietary software product; IT and AI capabilities are limited to a partnership with Darktrace for third-party cybersecurity.

Franman is wholly founder-controlled with no external venture or private equity investment. It holds ISO 9001:2015 certification (since 1999) and has received industry recognition including the Lloyds List Piraeus International Centre Award (2021) and Great Place to Work certification (2022). In 2024 the company expanded its footprint via an exclusive agency agreement with Saudi Arabia's IMI Shipyard and the formation of Franman Shipbrokers S.A.

Name

Franman

Legal name

Franman

Website

https://franman.gr

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

11–50 employees

Short description

Franman is an Athens-based maritime services company founded in 1991 that connects 700+ shipping companies with 130+ equipment manufacturer principals across shipbuilding equipment, spare parts, repairs, supplies, maritime security, and underwater services.

Ownership category

akta.pro rank

Product category

Maritime Equipment and Services Distribution

NAICS

Ship Building and Repairing (336611), Support Activities for Water Transportation (4883)

SIC

Ship & Boat Building & Repairing (3730), Wholesale-Industrial Machinery & Equipment (5084)

akta.pro primary industry

Marine MRO Parts & Consumables Distribution (TLAKAOAJ)

akta.pro secondary industries

Piping, HVAC & Auxiliary Systems Repair (TLAKAKAH), Project Management & Owner’s Engineering / Technical Consultancy (Spec Writing, Bid Support, Site Support) (IMAJAGAO), Marine Electrical Installation, Commissioning & Field Services (IMAJAJAL)

Keywords

• Maritime equipment supply
• Ship spare parts
• Ship repair services
• Maritime security services
• Underwater vessel inspection

Headquarters

HQ city

Athens

HQ country

Greece

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Equipment Representation and Sales: Revenue from representing equipment manufacturers and newbuilding equipment sales to shipping companies. Acts as exclusive agent for various principals.
2. Spare Parts Sales: Ongoing sales of spare parts for ship equipment to existing customer base of 700+ shipping companies.
3. Service and Maintenance: Service provision, maintenance, and technical support for ship equipment and systems.
4. Ship Supplies: Supply of ship provisions and consumables to shipping companies.
5. Maritime Security Services: Maritime security services including risk management and underwater services.

Go-to-market motion3 records

Distribution channels2 records

Marketing channels4 records

Core offering

Franman operates as a maritime trading house providing a wide range of equipment, parts, products, and services to the shipping industry. The company follows the Japanese Trading Houses' one-stop-shop philosophy, representing over 130 equipment manufacturer principals globally and connecting 700+ shipping companies with 200+ suppliers of equipment and services across shipbuilding equipment, spare parts, ship repairs, after-sales service, ship supplies, maritime security, and underwater services.

Product overview

Franman is a maritime trading house providing comprehensive equipment, parts, products and services to the shipping industry. The company operates as a one-stop-shop following the Japanese Trading Houses model, with seven core divisions: Shipbuilding Equipment (representation of equipment manufacturers), Spare Parts (OEM parts supply), Ship Repairs (dry-docking and conversions), Service (after-sales technical support), Ship Supplies (provisions and stores), Maritime Security (security management), and Underwater Services (inspections and maintenance). The company represents over 130 principal manufacturers across Japan, South Korea, China, Europe and USA, connecting 700 shipping companies with 200 suppliers. Equipment portfolio includes engine room systems (boilers, engines, generators, scrubbers), cargo handling equipment, deck machinery, navigation systems, and performance optimization technology.

Differentiator

Problem solved

Functional benefit

Products and services

• Shipbuilding Equipment Division
• Spare Parts Division
• Ship Repairs Division
• Service Division
• Ship Supplies Division
• Maritime Security Division
• Underwater Services Division
• Franman Shipbrokers S.A

Quantifiable outcome

• 5,500 newbuildings equipped
• +2 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core and minor.

• Silverstream TechnologiescoreChannel Partner/ Reseller/ Distributor · 1 January 2023Partnership established in 2023 with UK-based Silverstream Technologies for air lubrication system technology representation.
• International Maritime Industries (IMI)coreChannel Partner/ Reseller/ DistributorExclusive agent for Greece and Cyprus for International Maritime Industries, a major shipbuilding and maritime equipment provider.
• LHE (Leader Heat Exchanger)coreChannel Partner/ Reseller/ DistributorSouth Korean manufacturer of plate type heat exchangers, providing equipment through Franman's distribution network.
• Kobelco (Kobe Steel)coreChannel Partner/ Reseller/ DistributorJapanese manufacturer providing process gas compressors for maritime applications through Franman's representation.
• Life Clinic GroupminorOthersProvider of team coaching and wellness services for Franman's internal team development.
• EOS Risk Management LtdcoreStrategic or Co-development PartnerUK-based maritime security specialist providing risk management and security services for shipping clients.
• Honeywell Process SolutionscoreChannel Partner/ Reseller/ DistributorProcess solutions provider in South Korea for maritime automation and control systems.
• Japanese PrincipalscoreChannel Partner/ Reseller/ DistributorNetwork of Japanese equipment manufacturers represented through Franman's liaison office in Tokyo.
• Korean PrincipalscoreChannel Partner/ Reseller/ DistributorNetwork of Korean equipment manufacturers providing maritime equipment through Franman.
• Chinese PrincipalscoreChannel Partner/ Reseller/ DistributorNetwork of Chinese equipment manufacturers represented in the Franman distribution network.

Scale indicators7 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• Wärtsilä Services: Major marine equipment manufacturer and lifecycle services provider operating globally. Overlaps with Franman's Service Division (after-sales technical support) and Equipment Representation for engine room systems like Yanmar and Kobelco that compete in similar territories.
• V.Group (V.Ships): Largest independent ship management and marine services company in the world covering crew management, technical management, and ship services. Broader scope than Franman but overlaps in technical services, spare parts supply, and ship repair coordination from a larger enterprise perspective.
• Kongsberg Maritime: Maritime technology provider offering integrated navigation, automation, and digital solutions to commercial shipping. Overlaps in marine electrical/automation representation and consultancy services where Franman represents Honeywell Marine and similar principals.

Direct peers

• Inchcape Shipping Services: Port agency, maritime services, and ship supply provider operating across 60+ countries. Directly comparable service scope to Franman — vessel services, husbandry, supplies — though at much larger scale and globally distributed footprint.
• Goltens Worldwide: Marine services provider specializing in engine repair, spare parts, ship repair, and equipment representation across Asia, Middle East, and Europe. Closely matches Franman's Equipment Representation, Spare Parts, and Ship Repair divisions with similar trading-house operating model.
• Wrist Ship Supply (formerly BASS): World's largest ship supply and provisions distributor serving 1,400+ ports globally. Directly comparable to Franman's Ship Supplies Division, with overlapping provisions, deck/engine stores, and consumables distribution model for merchant vessels.
• TTS Group (Marine / Handling): Marine equipment manufacturer and ship service provider specializing in cargo handling, deck machinery, and offshore equipment. Comparable equipment representation business model in the shipbuilding supply space, though primarily as a principal/manufacturer rather than a multi-principal agency.
• Wilh. Wilhelmsen ASA (Wilhelmsen Ship Service): Global maritime services group operating ship supply, ship management, and vessel agency services across 2,200+ ports. Closest direct peer to Franman given overlap in agency/representation, spare parts distribution, and ship supply serving international shipping customers.

Regional players

• Trio Maritime (East Mediterranean): Regional maritime services company providing ship supply, agency, and technical services in the Eastern Mediterranean. Geographic and service overlap with Franman in core Greek and East Med shipping markets, but smaller scale and narrower service portfolio.

Emerging players

• ShipServ: Digital procurement platform connecting ship operators with marine suppliers. Competes with Franman's traditional agency/distribution model by enabling direct procurement between shipping companies and equipment suppliers — a partial disintermediation risk to Franman's trading-house intermediation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/franman_ltd

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Franman