Greek interests record most used ship purchases in Q1 2016

Greek shipowners and Greek-interest companies continued to dominate in second hand ship sales sector in the first quarter of 2016, albeit at a slower pace than the corresponding period of 2015.

The downturn, as expected, emanates from the economic crisis affecting many countries – including to a large extent Greece – as well as the 30-low in bulk rates.

According to Allied Allied Shipbroking. 294 sales of vessels were recorded during Q1 2016 in the second hand market, as opposed to 357 a year before in the same quarter.

Greek-controlled companies purchased 62 vessels (72 in the same period in 2015), holding 20 and 21 percent, respectively, of the specific sector. Total overlays reached 773.1 million euros and 2.216 billion euros during the respective periods.

Bulkers mostly dominated Greek shipowners’ buying interest (46), with only seven tankers purchased in the first trimester of 2016.

Of the 76 vessels purchased by Greek interests in Q1 2015, 31 were bulkers and 27 were tankers.