Greek shipowners order 85 newbuilds

Greek shipowners invested a total of more than $9 billion in new and secondhand vessels in the last 12 months.

Greeks placed orders with shipyards for 85 newbuilds for the sum of $5.5 billion, according to data Golden Destiny shipbrokers shared with Kathimerini. Furthermore, Allied Shipbroking figures showed local shippers acquired another 233 ships on the secondary market for $3.59 billion.

In total the Greeks bought 318 oceangoing vessels last year, while according to Allied they also sold 175 ships for $2.55 billion on the secondary market and another 57 ships for scrap value.

This intensive investment activity forms part of the typical renewal and modernization cycle of the Greek-owned merchant fleet, the world's biggest.

Therefore Greece remains the country with the highest ownership in the world in absolute figures: Although Greece's population...