ECONOMY

Greek-flagged ships are setting sail for other registers

greek-flagged-ships-are-setting-sail-for-other-registers

At least 15 ships of more than 1,500 gross tons left the Greek register in July and August this year – the first couple of months of the capital controls – against just four in the same period last year, according to Merchant Marine Ministry data.

The negative atmosphere surrounding oceangoing shipping in Greece has led to the loss of 33 vessels from the Greek register this year, nine of which lowered the Greek flag within August.

Sources say that the trend continued in September, as the combination of the political and economic uncertainty with the capital controls and the constant talk of changes to the framework within which shipping operates are driving shippers away.