Wily Greek owners have made the most of the changing cycle this year, accounting for almost one in four secondhand ship purchases, according to data from Allied Shipbroking.
Allied has Greek owners down as spending more than anyone else on used ships in 2017 – with $4.47bn invested in the year to date, accounting for 23% of all secondhand purchases with less than two weeks of the year to go.
A total of 280 vessels were bought by Greek shipping companies and nationals, with bulkers to the fore, accounting for 170 of the total. Greeks have also snapped up 79 tankers, 35 boxships and three LNG carriers.
Chinese interests ranked second behind the Greeks in splurging $2.25bn on 205 ships with Norwegian firms in third, snapping up 98 vessels.
Greek shipping interests were also first on the list in terms of sellers, offloading 179 vessels for $2.3bn.
Also of note, although not carried in this particular Allied report, is how Greeks have bookended 2017 with sizeable newbuild orders, principally for tankers.