Greek shipowners outspend the Chinese paying $ 2.5 billion for ship acquisition

20 October 2019
74 Views

Greek shipowners are in a battle for primacy in the acquisition of second-hand ships with their Chinese counterparts, as the lead between the two shipping companies has changed hands over the past years.

While by the end of the 9th month Chinese shipping companies had taken the lead in the list, the Greeks went on the offensive and overtook them in mid-October.

However, Greek shipowners’ priorities lie in the purchasing of high capacity ships having spent most of their money in that market.

According to Allied Shipping Research data, from the beginning of the year to mid-October the Greeks have bought 173 ships against 168 Chinese.

Greek-owned shipping has paid out $ 2.5 billion to $ 1,828 of the Chinese who have shifted their interests towards cargo ships because of the good freight market.

Greeks have bought 97 cargo ships against 132 Chinese, 55 tankers against 28, 18 container ships for seven and three for one.

Singapore came in third place, based on the number of ships acquired with companies buying 33 ships, worth a total of 467.2 million.

You may be interested

Xi & Mitsotakis visit the facilities of COSCO
POLITICS
shares23 views
POLITICS
shares23 views

Xi & Mitsotakis visit the facilities of COSCO

makis - Nov 11, 2019

The Greek Prime Minister Kyriakos Mitsotakis visited the facilities of COSCO in Piraeus together with the Chinese President Xi Jinping,…

Airbnb to ban party houses following multiple deaths in California shooting
GREECE
shares33 views
GREECE
shares33 views

Airbnb to ban party houses following multiple deaths in California shooting

Panos - Nov 11, 2019

Guests using short-term rentals for wild parties and criminal activities have been the scourge of the sector, and the problem…

Standard & Poor’s upgrades Greek banks
FINANCE
shares36 views
FINANCE
shares36 views

Standard & Poor’s upgrades Greek banks

Panos - Nov 11, 2019

Standard and Poor’s announced that it is upgrading the ratings of Greek banks in order to reflect the improved economy…

Leave a Comment

Your email address will not be published.