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

20 October 2019
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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.

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