This fleet was nationalized in 1949 by President Perón, who established "Flota Mercante del Estado" (State Merchant Marine) while retaining the Dodero family as owners of the management concession. This partnership ended with the 1955 coup that deposed Perón, however, and its management was nationalized as "Flota Argentina de Navegaceon de Ultramar". President Arturo Frondizi merged the fleet and management entities into "Empresa Líneas Marítimas del Estado" (ELMA) in 1960; ELMA was stripped of its cargo preference at the Port of Buenos Aires in 1991, and unable to privatize the carrier, sold its fleet piecemeal.