Aristanaz was owned by Michael A. Karageorgis (M.A.Karageorgis Maritime, Piraeus, Greece). One of the major Greek owners of the 1970's with many newbuilding orders in Japan for general cargo as well as product tankers. Unfortunately the company went almost bankrupt in the early nineties. Son Aristomenis Karageorgis was elected as President of Union of Greek Shipowners in late '70s.