Greek fleet now worth $105bn

Greek fleet now worth $105bn

With Clarkson set to play a large role as ever at Posidonia, which starts next week, Stephen Gordon, the managing director of Clarkson Research Services, has crunched the numbers to look at the dominant role the Greek fleet has in world shipping.

Writing in the latest Clarkson weekly report, Gordon noted that 10 years on from the financial crisis, Greek owners have expanded their control of the world fleet from a 13% to 17% share, today operating some 218m gt (370m dwt) valued at $105bn. “Certainly worth raising a glass (or two) while enjoying the parties and cocktails!” Gordon quipped.

The market share number slightly contradicts figures released last week from the Union of Greek Shipowners who claimed the Greek fleet was now at 20% of the world total.

In second place, according to Clarkson data, is Japan with 13%, closely followed by China in 12%.

The Greek fleet stood at 110m gt a decade. The near doubling of fleet size has outperformed the market and ranks as one of the fastest paces of growth among owner nations, comparable even to China (8% fleet share to 12%) despite China’s cargo (24% of global imports against 0.4% for Greece), finance and shipbuilding (33% by cgt) superiority.

Interestingly while last year, Greek owners were the top buyers and sellers of tonnage, Clarkson data shows German owners have since overtaken them this year in the selling stakes.

According to Clarkson data, the most popular S&P asset bought (and newbuild ordered) by Greeks since the last Posidonia has been a kamsarmax.

Splash, which this year is sponsoring Posidonia, will be bringing readers unrivalled coverage of the Greek show in the coming days.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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