Greek-owned shipping companies last year invested US$4.7 billion in the acquisition of used oceangoing vessels and another $4.7 billion in new builds. As a result, Greek shipping ranked top in transactions and among the biggest investors in new ships, with total investment exceeding $9.3 billion for almost 400 vessels, according to Clarksons shipbrokers.
The above amounts only concern published and confirmed agreements and they do not include any deals that remained private, market sources explain.
The strong recovery of the dry-bulk market and the mild growth in the container market, combined with attractive prices in the secondary market and even more alluring rates at shipyards led to a major increase in oceangoing ship investments last year.
Clarksons reported a historic high in used ship transactions last year as far as total capacity is concerned, which was 31 percent higher than 2016. The shipbrokerage’s data showed that used vessels with a combined capacity of 83.2 million deadweight tons (dwt) changed hands, most of which concerned Greek acquisitions and sales.
According to Allied Shipbroking, Greeks acquired 289 used oceangoing ships in the year to December 24, spending $4.64 billion, and sold 190 ships to others for $2.66 billion.