Shipowners invest more in newbuilds

By Nikos Roussanoglou

Greek shipowners paid a total of more than 1.17 billion euros in the month of May for the acquisition of 54 ships, according to data from Golden Destiny shipbrokers.

These investments concern 31 orders to shipyards for new vessels with a total capacity of 2.2 million deadweight tons (dwt) and a value of some 880 million euros, while the other 23 vessels are from the secondhand market, with a total capacity of 2 million dwt and a value of 292 million euros.

The data confirm the trend that originally emerged at the start of the year regarding the intensification of investments in the renewal of the Greek-owned fleet. In the January-May period, Greek shipowners spent a total of 8.2 billion euros either on new ship orders or the aquisition of used vessels. In total, the Greek-owned fleet has seen the aquisition of 360 ships since the start of the year, of which 189 are under construction and 171 are secondhand.

Investment in new ships of a total capacity of 18 million dwt has added up to 3.7 billion euros, as Greek shipowners are increasingly turning to new vessels to boost their fleet.