Though life remains challenging for those in shipping, Greek owners continue to cement their role as the dominant force in global shipping, forever growing and renewing their fleet. Indeed, the current value of the Greek-owned fleet stands at a bulk carrier or so below $100bn, reinforcing the country's position as the most powerful in the world, fleet wise.
At the dawn of 2018, the Greek cluster controlled the largest fleet, the greatest cargo carrying capacity and top asset value.
Ship valuation platform, VesselsValue, puts the value of the Greek-controlled tanker, bulker and LNG fleets respectively at $36bn, $35.75bn and $13.5bn. VesselsValue puts the Greek control of these markets at about 19% of the total worth of floating assets.
"The strong commitment of Greek owners to the global shipping markets looks unlikely to change as others, such as Germany, are liquidating assets," said VesselsValue. It notes the trend in Chinese ownership is rising, as state owned companies are consolidating and placing new orders.
"This is a reminder that there are always new challengers for the throne of peak market value. Greek owners, with their sharp focus on commercial results, should continue to lead the pack for the foreseeable future," said VesselsValue.
The second most valuable fleet is that of Japan, worth $89.122bn, followed by expanding China, $83.544bn, the USA $46.96bn, Singapore, $44.9bn and Norway, with $42.85bn.