Greece’s Shipping Tycoons Step Up Buys and Orders

Shipping journal Lloyd’s List named Greece, together with China, the countries with the most influential people in shipping. The news couldn’t ring truer as 2018 comes to close with even more new investments by Greek shipowners.

Overall, Greek shipping interests have this year acquired a total of 293 vessels in 1,400 transactions, according to shipbrokers Allied Shipbroking, 173 of which are bulk carriers, 80 tankers, 30 container ships and the rest gas carriers.

This week alone four bulk carriers and two tankers valued at 169 million dollars were purchased by Greeks, who also placed new orders for two LNG carriers worth 370 million dollars (Angelicoussis Group).

According to S&P consultants Golden Destiny figures, of the total of 290 million dollars invested within a week, 169 million dollars were by Greek shipping interests.

Greek shipping merchants were also active in the second-hand market, with the acquisition of bulk carrier Five Stars Beijing for 23.1 million dollars in the same week.

Total investments in second-hand purchases came to 4.76 billion dollars for Greek interests, compared to the overall total of 18.1 billion dollars.

Following Greece in terms of investments is China with the purchase of 202 ships totaling 1.8 billion dollars. Next in line is Norway with 69 buys valued at 1.78 billion dollars, and Germany with 67 ship acquisitions, amounting to 405 million dollars.

It should be noted, that Greek shipping magnates held the lead in terms of sales and purchases in the first 10 months of 2018 investing over 10 billion dollars in new orders and in the acquisition of second-hand vessels.