Greek shipping

The soaring of the Greek-owned merchant fleet's numbers since 2010 confirms that the nation is consolidating its position at the top of the global shipping industry.

Shipowners from Greece have submitted more than twice as many orders for new vessels as any other country so far this year, making the most of the exceptionally low prices at Asian shipyards, particularly those in South Korea, which have been offering discounts to attract more orders and cover some of their debts.

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.

Over 1,700 Greek-owned oceangoing ships, managed by more than 170 Greek shipping companies, were honored on Monday evening at a special ceremony by the International Propeller Club of the United States - Port of Piraeus, for saving human lives at sea.

Borrowing by Greek shipping companies' from local banks dropped 15.22 percent in 2015 compared to the year before, data from Petrofin Bank Research have shown.

The total borrowing of Greek-owned shipping firms from Greek and foreign lenders came to $62.71 billion last year, down 2.04 percent from 2014. Of that, $9.17 billion came from Greek banks.

Greek-interest merchant shipping fleet totaled 4,092 vessels in February 23, 2016, recording an increase of 35 vessels compared with the same period last year, the Greek Shipping Cooperation Committee said in a report.

The London-based Committee said that the data included 347 vessels currently ordered in international shipyards.

Greek businessmen are making a fortune in London real estate, industry, new technology and all matter of industry. The Greek crisis has done little to curb the wealth of traditionally wealthy Greek dynasties who have merely transfered their business interest abroad.

George Logothetis

Sirens sounded this week in the all-important Greek shipping sector, a field where Greek interests traditionally enjoy top international rankings in terms of vessel ownership, revenues, tonnage and annual percentage of transported cargo.

By Ilias Bellos

The wide margin of difference between the health of Greek and German shipping is clearly illustrated by the deal for the sale of 14 oceangoing vessels by German bank HSH Nordbank AG debtor companies to Greek firm Navios, owned by Angeliki Frangou.

By Ilias Bellos

The Greek-owned merchant fleet remains a world leader in terms of value, with assets whose worth is estimated at $105.65 billion, above the combined fleets of the United Kingdom, Germany and Norway, according to data compiled by VesselsValue.com, which specializes in ocean-going ship valuations.