Tuesday October 21, 2014 Search
Weather | Athens
24o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Shrewd attitude helps Greeks retake global shipping lead

By Nikos Roussanoglou

Greeks have returned to the top spot in the global chart of merchant fleet capacity, according to data from Clarksons, the world’s leading provider of integrated shipping services.

Greek shipowners now control ships with a gross tonnage of 164 million tons, overtaking the Japanese on 159.4 million tons. As a result, Greek shipping is back on top after about a decade in second place.

This global lead has been achieved even though the Greeks rank third in ship numbers behind the Japanese and the Chinese: Greek shipowners control 4,984 vessels against 8,537 managed by the Japanese and 6,427 by the Chinese. This shows that the Greek ships are on average much bigger than those of the Japanese and the Chinese, as well as the Germans and the South Koreans which follow.

In its latest global shipping snapshot Clarksons also makes reference to the conservative attitude of Greek shipowners throughout the international shipping rally from 2004 to the start of the credit crisis. Although Greek shipping was seen as the biggest risk-taker for at least 20 years and since the mid-90s had overtaken the Japanese to conquer the top spot through the size of its fleet, the Japanese had dominated the industry in the last decade by investing more funds during the price growth period in the sector, which led to them sustaining significant losses during the three-year crisis.

On the other hand, the Greeks were more self-contained during the period of industry growth, which meant the crisis had less of an impact on them. Now they are in the position to stage a dynamic return to investing as vessel prices have declined considerably compared with previous years. In the first quarter of 2014 alone Greek shippers have invested a total of almost 5 billion euros in new ships.

ekathimerini.com , Tuesday May 6, 2014 (22:55)  
Think-tank says political uncertainty slowing investment in Greece
Tax debts to Greek state exceed 70 billion euros
Greek 2013 budget gap revised down to 1.8 pct/GDP
Greece said to seek tailor-made plan for bailout exit
Greek farmers warn they´re warming up for protests
Greek farmers are warming up for extended protest action, representatives of their unions warned on Tuesday after meeting in Larissa, central Greece, over the weekend. Farmers, who are compl...
Accomplice of Greece´s Number 1 fugitive arrested while trying to leave country
Self-styled anarchist Polykarpos Georgiadis, linked to Greece's Number 1 fugitive, was arrested at Athens International Airport on Tuesday while trying to board a flight to Brussels, in viol...
Inside News
BASKETBALL
PAOK fans stop coach Markopoulos´s move to Olympiakos
Olympiakos is once again in the lookout for a new coach after the refusal of PAOK to release Soulis Markopoulos, while Panathinaikos defeated Kolossos on Rhodes on Monday to become the only ...
BASKETBALL
Reds lose to Nea Kifissia, search for new coach
Nea Kifissia recorded the biggest win of its short history in the top flight defeating Olympiakos 68-67 on Sunday, in a Basket League weekend marred by the abandonment of the Thessaloniki de...
Inside Sports
INTERVIEW
The past, present and future of the Greek debt crisis
For a decade, until mid-2012, Josef Ackermann was the CEO at Deutsche Bank. It was a position that earned him the nickname “shadow chancellor” of Germany and allowed him to play a decisive r...
COMMENTARY
Self-opposing coalition
Even though a number of polls see the total percentage of the two ruling parties trailing that of SYRIZA, New Democracy and PASOK are still in government and the leftists in opposition. This...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek farmers warn they´re warming up for protests
2. Accomplice of Greece´s Number 1 fugitive arrested while trying to leave country
3. Think-tank says political uncertainty slowing investment in Greece
4. Trial over 2012 torture of Egyptian bakery worker in Salamina begins
5. Tax debts to Greek state exceed 70 billion euros
6. Greek 2013 budget gap revised down to 1.8 pct/GDP
more news
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Gang importing heroin into Greece busted
3. Gutsy rectors
4. Self-opposing coalition
5. Applications for heating oil subsidy set to start
6. SDOE to probe Proton Bank loan to Thessaloniki businessman
Today
This Week
1. Possible third figure in Amphipolis mosaic may be uncovered shortly
2. Greece to contribute 1 mln towards Gaza reconstruction
3. Greece nearing bailout exit, says gov't spokesperson after IMF talks
4. Istanbul skyscraper casts shadow over Greece's banking ambitions
5. Coalition shooting itself in the foot
6. GPO poll gives SYRIZA clear lead over New Democracy
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.