George Procopiou’s four daughters are assuming an increasing, possibly even dominant, role in running his fleet of more than 120 ships.

The Greek tycoon, who is turning 74 this year, said on Thursday he will continue to be actively engaged in shipping - a pastime he has long described as a hobby rather than work.

At the same time, however, Procopiou suggested he might be taking a back seat to let his children, who between them have a controlling stake in the group, shape its future.