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Greek fleet reduces in number of ships, increases in tonnage

Reflecting the trend towards renewing their fleets with larger vessels at the beginning of March the Greek-owned fleet of vessels over 1,000 gt was down on 12 months ago but up in terms of carrying capacity and gross tonnage.

Indeed, which ship number have been in decline since the boom in deliveries of newbuildings the carrying capacity is at its highest since the record of 2018 when the fleet reached 4,148 ships of 341.93m dwt. 

This revealed in statistical data assembled by the London-based Greek Shipping Cooperation Committee (GSCC) for the 33rd consecutive year. The data has been provided by IHS Markit.

According to the data, at March 2, Greek interests controlled 3,968 vessels of various categories, of 340.824m dwt and 199.694m gt.

This is a decline of 49 vessels, but an increase of 1.274m dwt and 1.53m gt. This includes the 158 vessels of various categories on order from shipyards, of a total 18.411m dwt and 13.012m gt.

Story continues below table

Greek fleet over the last 20 years 

                           Ships           dwt                    gt

Mar

2000   

3,584    

150,966,324    

90,227,491

Mar

2001

3,618

168,434,370

100,220,348

Mar

2002

3,480

164,613,935

98,195,100

May

2003

3,355

171,593,487

103,807,860

Mar

2004

3,370

180,140,898

108,929,135

Mar

2005

3,338

182,540,868

109,377,819

Mar

2006

3,397

190,058,534

113,603,803

Feb

2007

3699

218,229,552

129,765,470

Feb

2008

4,173

260,929,221

154,599,274

Feb

2009

4, 161

263,560,741

156,214,619

Feb

2010

3,996

258,121,898

152,616,046

Mar

2011

3,848

261,675,981

153,128,919

Mar

2012

3,760

264,054,167

155,904,976

Mar

2013

3,677

265,336,520

155,988,384

Mar

2014

3,901

290,847,132

170,984,684

Mar

2015

4,057

314,456,451

184,063,875

Feb

2016

4,092

320,597,574

188,904,194

Mar     

2017

4,085

328,763,767

192,430,519

Mar

2018

4,148

341,925,357

199,286,013

Mar

2019

4,017

339,549,357

198,164,080

Mar

2020

3,968

340,823,637

199,693,859

The fleet is trading under 32 flags, one fewer than in March 2019 led by Liberia and the Marshall Islands, both of which have grown over the past 12 months, while the Greek-flagged fleet has declined in terms of ship numbers, dwt and gt. The home flag fleet now comprises 636 ships, of 65.64m dwt and 38.8m gt.

Liberia and Marshall Island flags are at the forefront of the Greek-owned fleet with 866 and 850 ships, respectively, and  Liberia is at 77.323m dwt, representing 22.7%of the total Greek dwt and Marshall Islands is at 69.344m dwt, representing 20.3% of the total dwt. Malta comes next with 673 ships of 62.1m dwt.

Further, the Greek flag is no longer the largest in terms of dwt, as it represents 19.3% of the total. Panama comes next with 375 ships of 22.2m dwt, Cyprus, 226 ships of 17m dwt and the Bahamas with 203 ships of 18.24m dwt. Over the past 12 months, Cyprus lost 22 Greek-owned ships of 2m dwt.

The current orderbook for Greeks comprises 61 oil tankers, 11 chemical and products tankers, 45 liquefied gas tankers, 27 ore and bulk carriers, 11 container ships and three other cargo ships on order.

Overall, the Greek-owned fleet, stands at 7% of the world fleet in terms of ship numbers, 13.2% in terms of gt and 15.6% in terms of dwt. It’s notable that Greek parent companies represent 26.6% of the world tanker fleet and 14.7% of the ore and bulk fleet.

The GSCC notes that due to the unstable market conditions and new regulatory requirements, slight increases and decreases were noted in most of the categories of the Greek owned fleet. “In particular, many categories recorded an increase in det and a slight decrease in number of ships, reflecting a preference by Greek shipowners for larger vessels,” said the GSCC.

Containerships are an exception, presenting a slight increase both in dwt and number of ships in relation to the corresponding world fleet type for the year 2019.

Average age of the Greek-controlled fleet in terms of ships increased slightly compared to the previous year, but continues to be 2.4 years below the average age of the world fleet. The average age of the Greek fleet in terms of ships now stands at 11.7 years as against 14.1 years for the world fleet. In terms of gt and dwt, it is 9.9 and 9.8 years respectively, as against 10.1 and 9.8 of the world fleet.

The average age of the existing Greek-flag fleet recorded a slight increase, in terms of ship numbers, gt and dwt, standing at 13.7, 9.9 and 9.7 years respectively as against 13.4, 9.7 and 9.6 years end-February 2019.

The bulk of the Greek fleet is classed with six societies: Lloyd’s Register: 794 ships (809 ships in 2019), ABS: 759 ships (781),  ClassNK: 690 ships (709), BV: 685 ships (679 ), DNV GL: 615 ships (599) and RINA: 193 ships (215 ships in 2019).

It should be noted however, that although LR ranks first in terms of vessels, ABS comes first in terms of dwt and gt.

When it come to the Greek-flag fleet, the breakdown is: ABS: 190 ships (185 ships in 2019), Lloyd’s Register: 141 ships (164),  DNV GL: 99 ships (108), RINA: 77 ships (77), BV: 62 ships (64), CCS: 19 ships (17) and ClassNK: 14 ships (17 ships in 2019).

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