ECONOMY

Greeks still rulers of the waves

Despite the financial crisis, Greek shipowners remain the dominant force in the tanker sector, as they control 18 percent of the active fleet and 17 percent of the tankers on order, according to data supplied by EA Gibson Shipbrokers. The figures published show that 50 percent of the global fleet is controlled by just six countries, while China is the growing dynamic, standing second on the list of orders made for new ships. «The worst is over for the tanker market,» Nikos Tsakos, the head of Tsakos Energy Navigation, told Bloomberg, expressing the optimism that has recently begun spreading among tanker owners. Although the sector does not take in the money it used to, its picture has recently improved. At the same time, data supplied by Allied Shipbroking showed that Greek shipowners have invested more than $3.1 billion since the start of the year to acquire 161 used vessels. Of that, some $2.2 billion has gone toward the acquisition of 115 dry-bulk carriers.