Total investments of 13.5 billion dollars in purchases and construction of ships are estimated to have been made by Greek shipowners in 2022, maintaining first place worldwide in these transactions.
In more detail, according to the data of British shipping firm Clarksons, Greek shipowners placed orders with a total value of 7.9 billion dollars, corresponding to 100 ships with a total transport capacity of 6.7 million dwt. In terms of number of ships, most orders were placed in containerships (38 ships), followed by bulkers (22 ships), tankers (18 ships) and LNG Carriers (14 ships).
How many ships and what kind does the Greek-owned fleet have?
However, the total number of Greek-owned ships under construction is 230, with a carrying capacity of 18.4 million dwt and a value of $20 billion. In terms of dwt, they represent 8% of all global orders. Of these, 45 are bulkers, 68 containerships, 56 tankers, 36 LNG Carriers, 21 LPG Carriers and four of various other types.
In terms of ship sales, according to the shipping brokerage house Allied Shipbroking, in 2022 Greek shipowners invested $5.6 billion in purchases of 254 “second-hand” ships. It is noted that in 2021 they had bought 375 ships investing 7.5 billion dollars.
The comparison of the data of 2021 and 2022 shows a decrease in the activity of Greek shipping companies in ship purchases, while they remained equally active in sales. This means that the Greek shipowners made the most of the increase in ship values mainly in tankers and by going out as sellers and secured high profits.
What they invested in
Greek shipowners in 2022, in the markets, focused more on tankers acquiring 115 for $2.7 billion in contrast to 2021 which focused on dry bulk carriers investing $4.1 billion to buy 230 bulkers.
It is worth noting that according to data released by shipping brokerage Xclusiv, the tanker fleet is expected to shrink in the coming years, mainly due to the fact that the order book is at its lowest level since 1996, but also because older ships make up a large part of the total tanker fleet (vessels over 20 years old are 635, 8.5% of the active fleet).
Therefore, in an even limited increase in oil demand, a very strong tanker freight market is expected given the reduction in the active fleet. And in dry bulk carriers fleet growth is controlled, as vessels on order make up 6.8% of the active fleet.
Latest News
Greek Retailers Remain Optimistic About Easter Shoppers’ Turnout
While stores are expected to be open on Sunday, April 28, the majority of Easter shoppers will likely do their shopping during the Holy Week, following the deposit of Easter bonuses
Europeche: Greek Apricot Production Recovers
Europeche forecasts the production will bounce back despite a slight decrease in varieties attributed to high winter temperatures
Bank of Greece (BoG): Business-Household Deposits Up 1,675bln in March 2024
In March 2024, the monthly net flow of credit to the general government was negative by 469 million euros
FT: Greece’s Economic Rebound a Balance of Growth and Poverty
Eurostat data revealed a significant 10.8% drop in Greek public debt relative to GDP in 2023, alongside a 2% economic expansion, outpacing Germany's performance.
Lavrio Port Authority Next Up for Privatization
A deadline for the submission of expressions of interest is May 14, 2024
Eurostat: Greece Records Largest Drop in Natural Gas Prices in 2nd Half of 2023
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022
GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool
President and CEO of Gek Terna George Peristeris explained the company's plans on Tuesday on the sidelines of the inauguration of sections of Greece's E65 highway
NielsenIQ: 3% Supermarket Revenue Increase in Q1
Private label products are gaining traction, comprising 25.4% of shopping basket shares, up from 24.7%
Store Hours Change Today in Observation of Orthodox Easter
The President of the Athens Chamber of Commerce hopes the Easter period will provide a much-needed boost to retail traffic in the capital
Athens-area Mass Transit Systems Set to Finally Install Contact-less Fare Payment
Paying fares via bank cards, smartphones and smartwatches in all mass transit systems in the Greek capital, namely, buses, trolleys, the metro and tram lines, is scheduled by the end of the year