Merchant fleet gets younger

The Greek-flagged commercial fleet decreased in ship numbers by 3.9 percent in December 2011, compared with the same month in 2010, but grew in capacity by 0.7 percent, according to data released by the Hellenic Statistical Authority (ELSTAT).

At the end of last year ships over 100 deadweight tons bearing the Greek flag numbered 2,014, with a total capacity of 43,397,583 dwt.

Shipping sources told Kathimerini that «Greek-flagged vessels are constantly decreasing their average age as in recent years many newly built ships have entered the Greek register.”

Out of the 2014 ships in the country?s register, 811 (or 40.2 percent) are no more than 15 years old, following the investment that Greek shipping companies have made in new vessels in recent years.