ECONOMY

Greek merchant fleet grows, tonnage up

The Greek-flagged merchant marine grew 5.1 percent to 2,125 vessels in the three years to June 30, the Hellenic Statistical Authority (ELSTAT) said yesterday. The fleet’s total gross tonnage, a measure of the ships’ total internal volume, increased by 20.1 percent in that period, to more than 43.2 million tons, it said. Comparisons are made on a three-year basis because of the time gaps between orders and the delivery of ships. The number of tankers in the fleet rose 15.4 percent in the three years and the vessels’ gross tonnage increased 30.3 percent. The number of dry-bulk ships, which carry commodities such as iron ore, fell 5.2 percent, while their gross tonnage rose 8.1 percent, reflecting larger ships. The Greek-owned fleet, which includes vessels owned by Greeks but flying a different flag, is the second largest in the world after China.