The country has been experiencing a phase of expansion of its maritime industry in recent years, carried out in particular by its local champions.
Historically, Greece has always given the sea a separate place; as a result, Hellenic boats have often pioneered in establishing links between different points of the world, especially commercial ones. This has been particularly reflected in the shipbuilding sector where, even today, Athens holds the dragee high to countries that are several times its size.
New data from Veson and Clarksons show that the country is the recipient of the largest number of orders specifically for new oil tankers, with national shipbuilding going through its most prosperous period since the 2008 financial crisis.
A merchant fleet in good shape
The value of the active fleet of Greek oil tankers is estimated at $66.3 billion, putting Athens in the lead. In addition, a significant trend towards renewal is also recorded throughout the merchant fleet, with 328 new orders placed over a seven-month period (including cargo ships, container ships and gas carriers), for a total value of $28.5 billion.
According to data for the entire maritime industry, regardless of the type of ship, China retains the first place in terms of total volume of tonnage under construction. In April, it was 38.5 million gross compensated tonnes (GTC) compared to 25.7 million for Greece, the figures of the latter being still stable in the long term.
A positive overview
For the entire fleet, an increase in orders has been seen since last November, with 66 new construction projects in February compared to 56 four months earlier, for an estimated value of $5.9 billion. Since the beginning of the year, the data confirm that Greek shipowners have contracted more orders in all categories than their Chinese competitors.
The primacy of oil tankers is undisputed: the total amount of ongoing projects in Greece amounts to $39.89 billion, about 4 times that of Beijing ($9.52 billion). The top 5 is completed by Singapore with $8.61 billion, Hong Kong with $5.13 billion and the United Kingdom with $5.08 billion.
Key companies for Greek growth
Shipowners are at the heart of this success, in particular thanks to so-called countercyclical investment techniques: they buy ships when market conditions are unfavorable, in order to expand their fleets in anticipation of future demand. This approach has allowed them to maintain a competitive advantage during economic restarts, which can then be invested during the next crisis.
Currently, the three largest Hellenic shipowners are « Navios Maritime holding Inc. » by Angeliki Frangou, « Star Bulk Carriers Corp » by Petros Pappas, and « Angelicoussis Group » by Maria Angelicoussis. With 188, 151 and 144 ships respectively, their fleet extends from the tanker to the oil tanker to the bulker, covering all the needs. It takes no less to be able to count on a sector that has become extremely competitive because it is vital for the global economy.
source : le petit journal
