Report: Greek shipowners hold global lead in vessel transactions – more ships bought than sold

8 September 2016
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Greek shipowners and Greek-controlled companies continue to hold first place in terms of transactions involving second-hand vessels over the first eight months of 2016, according to Allied Shipbroking.

Although the grave and ongoing crisis in the sector has affected the number of transactions, Greek interests are reportedly still buying more vessels than selling, at a time when prices have dipped to record lows.

Specifically, Greek-controlled interests purchased 166 vessels between January and August 2016, spending a total of 2.14 billion USD. During the corresponding period in 2015 the figure was 210 vessels purchased for a total of 5.75 billion USD.

In both periods, Greek shipowners and Greek-controlled shipping companies were first in terms of transactions.

On the flip side, Greek shipping also sold the most vessels this year, with 113 vessels sold for a total of 1.23 billion USD. During the corresponding period of 2015, 128 vessels were sold off by Greek shipowners and companies, generating a sum of 2.82 billion euros.

Chinese companies joined Greek shipping as overall “buyers” during the period, apparently also taking advantage of the crisis to purchase vessels for better days in the sector.

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