ECONOMY

Shipowners invest over $6.9 billion

Greek shipowners have spent more than $6.9 billion on secondhand vessels so far this year, with the majority of funds going to the dry-bulk sector, according to a leading shipbroker. Allied Shipbroking said in a recent report that Greek shipowners have purchased a total of 148 vessels, of which $4.3 billion went to the dry sector while another $2.3 billion was spent on tankers. Greek shipowners topped the world list of buyers of secondhand vessels, with Chinese and German shippers spending $3.9 billion and $2.3 billion respectively for the same period, according to the report. On a global level, $25.5 billion has been invested in secondhand vessels versus $45.8 billion for the total of 2007. In 2006, the amount reached $33.8 billion. According to government estimates, Greek shipowners manage 17 percent of the global fleet, 20 percent of the dry-cargo fleet and 23 percent of the tanker fleet.