ECONOMY

Greek shipowners choose Chinese shipyards

Greek shipowners have chosen Chinese shipyards for the construction of at least 60 percent of the new vessels ordered in the last few years, Merchant Marine Minister Costis Mousouroulis told journalists in China in the context of Greek Prime Minister Antonis Samaras’s visit to the Asian powerhouse last week.

There currently are 142 ships under construction in Chinese shipyards, while in the last seven years Greek shipping companies have invested at least 13.2 billion euros in having new ships built in China, said Mousouroulis.

Several Chinese banks reached funding deals with Greek shipping companies last week, with Mousouroulis explaining that the Chinese are eager to lend to Greek firms that intend to choose the Asian country’s shipyards for their new vessels, in a period with very limited funding from Greek banks.

The minister also confirmed Cosco’s interest in the whole of the port of Piraeus.