Despite Greece’s financial difficulties it remains the dominant player in shipping with its owners successfully playing the market cycles.
Meeting new emissions regulations was a major focus at the Greener Shipping Summit 2017 in Athens last week.
The United Nations Conference on Trade and Development (Unctad) has confirmed Greek shipowners remain the dominant force in the global industry, topping operators overall based on fleet capacity, while heading the wet and dry categories, and rising to third among containership fleets.
The leap in assets at Credit Suisse’s private bank to a record high has been aided by the bank’s new strategy of lending money to the world’s ultra-wealthy. Switzerland’s second-biggest bank is trying to lure more rich customers by helping them fund their businesses and lifestyles, with shipping, aviation and real estate loans a central focus.
The dry bulk shipping arena’s upward trajectory is continuing and as earnings season for Q3 2017 results have continued onward, equity analysts were turning more positive.
As tanker and bulker newbuilding vessel orders begin to rise, there has still been an overall drop in newbuilding orders in first-half 2017 across shipping segments compared to the same period last year. This as it maybe, Greek shipowners have doubled their contracting in the first half, according to data from VesselsValue.
Senior British officials were in Athens recently urging the Greek shipping community to have faith in the City of London after the UK leaves the European Union.
Greek shipowners are still able to get their hands on funds to buy ships as evidenced by the annual Petrofin Bank Research survey of bank funding portfolios in the name of Greek owners.
Liquidity problems for shipbuilders and shipowners have played into the hands of the cash rich says Seasure Shipbroking's VesselsValue (VV) platform and has resulted in a flurry of orders this year, with Greek interests to the fore.