$28bn and counting -- Greeks splurge at yards this year shows no sign of letting up

Piraeus: In the first ten months of the year Greek shipping firms have ordered a staggering 479 ships totaling $28bn, according to figures from local shipbroker George Moundreas & Associates SA. In the whole of 2006 a record was set when Greeks ordered 322 ships worth $16.64bn; this record was smashed as early as June this year.
The orderbook currently under contract only for 2007 represents about 13% of the Hellenic-owned fleet, which stood at 3,669 vessels as of February, according to official statistics provided by Greek Shipowners Cooperation Committee, based in London. [08/11/07]