Greek tycoons break records in June at Asian yards

Piraeus: Greece's owners have set a new stunning order record, snapping up a combined $4.37bn in new orders for the month of June alone according to the latest figures released by broker George Moundreas & Company.

The total value of Greek ships ordered this year is also a record, standing at $16.7bn. By comparison for the whole of 2006 Hellenic owners placed orders worth $14.3bn.

Last month 75 Greek ships were ordered with bulkers topping tankers with 44 orders of an estimated value of $2.8 billion.

Such brisk ordering may well keep the risks of overcapacity at Asia's yards on the backburner for a while longer yet.  [06/07/07]