×

Warning

JUser: :_load: Unable to load user with ID: 51

The Greek-controlled fleet just grows and grows. Today, the 18.6% share of the world fleet controlled by Greek shipowners is some 4% more than that run by the Japanese and the gap is growing as the carrying capacity of the Greek-owned fleet is the largest ever standing at 314.5m dwt mid-March.

Bankers like tankers, but Greek shipowners favour bulkers. In a clear reflection of their view of the shipping market banks are more inclined to finance the acquisition of tankers, as opposed to bulk carriers.

In its clearest warning yet to the newly elected radical coalition government, the Union of Greek Shipowners (UGS) has revealed the temptations being put to Greek shipowners to re-locate from the Greek cluster.

Greek shipping embarked on a multi-billion dollar Christmas / New Year splurge. Though we are only a couple of weeks into the year, Greek shipowners have already confirmed financial dealings topping $6bn.

Aegean Oil tanker Araevo has been bombed by an unidentified fighter aircraft at the rebel-held port of Derna, Libya, killing at least one and injuring a further two.

There are a lot of bloody noses on Wall Street these days, especially among shipping stocks. A particularly day bad day for publicly traded shipping shares was 8 December as many shipping stocks went into free fall and experienced double-digit percentage losses.

On 10 October 2014 the Greek newbuilding orderbook stood at some 537 ships of 48.2m dwt. By 1 November, the confirmed orderbook had grown by 14 ships and 1.2m dwt, according to Naftiliaki’s most recent research of the Greek shipping’s newbuilding programme.

Greek police have detained a suspect allegedly linked to a planned attack on the leadership of the Union of Greek Shipowners, the chairman of Nasdaq-listed Capital Product Partners, Evangelos Marinakis and chairman of the Federation of Greek Industries Theodoros Fessas.

A minimum 478 Greek shipping companies will soon begin paying an additional voluntary tax to the country’s treasury, under an agreement hammered out between the Union of Greek Shipowners and the Athens government some 15 months ago.

Despite the low freights, the stagnating sale & purchase market and bank lending restrictions, opportunities do arise and Greek shipowners are not shy in jumping on them.

Page 6 of 8