Greek ship register springs a leak

The removal of 62 vessels from the Greek ship register within the space of a year highlights the Greek flag's declining competitiveness. Along with the losses observed in 2015, the Greek register appears to have shrunk by 100 oceangoing ships in just two years.

Although the Greek-owned fleet remains the world leader in terms of both ship numbers and capacity, the Greek flag has dropped to third among those that Greek shipowners prefer, according to the annual report of the Greek Shipping Cooperation Committee in London.

Topping the chart is the Marshall Islands, with 791 Greek-owned ships at end-February (74 more than a year earlier). Liberia is in second place with 774 Greek-owned vessels (up 31 on last year). There are only 747 left sailing under the Greek flag, although their total capacity is largely unchanged from last year. That is because while certain owners...