ECONOMY

Greek-flagged fleet shrinks 3.7 pct in March y-o-y

The number of Greek-flagged ships declined by 3.7 percent in March compared with the same month in 2012, according to figures released on Friday by the Hellenic Statistical Authority (ELSTAT).

However, the total capacity of the Greek merchant fleet (concerning ships of 100 deadweight tons or more) declined by just 0.3 percent year-on-year.

The difference in the two figures is due to the acquisition of larger ships to replace old ones.