BUSINESS

Greek shippers more than double their orders

NIKOS ROUSSANOGLOU

TAGS: Shipping

Greek-owned shipping companies made a total of 58 new ship orders in the first half of the year, which is more than twice the number of orders made in the same period last year, according to VesselsValue.

The data of the ship valuations specialists show that in January-June 2016 Greek shipowners ordered just 28 vessels, a far cry from the 72 orders made in the first half of 2015.

On a global level orders in the year to end-June amounted to 245, down 3.5 percent from the 254 orders made a year earlier. Consequently the major increase in Greek orders is of great significance, as it occurred during a period when the international market was in decline.

Greek activity has restored Greek shipping on top of the shipbuilding orders, as the runner-up is China, a distant second with 40 new ships ordered. There was a significant decline in demand from Japanese companies, to just 13 in the January-June 2017 period from 36 last year and 105 in the first half of 2015.

Data also point to Greeks sticking exclusively with the two main categories of ships: Greek shippers ordered 42 tankers and 16 dry-bulk carriers. Notably in the last three years the 151 Greek orders have included 104 tankers, given the crisis in dry-bulkers.

Online