Dry CargoEurope

Greeks predicted to spur greater dry bulk consolidation

Petrofin Research’s latest annual survey of the Greek-owned fleet predicts further sizeable consolidation within the dry bulk space.

Big listed Greek entities have been at the forefront of recent dry bulk merger activities, something analysts at the Athens-based financial institution reckon will continue.

“The recent moves towards dry bulk mergers should also be seen as part of Greek listed companies who wish to become more attractive in the equity and bonds market and thus be in a better position to grow their fleets inexpensively and safely,” the survey noted, adding: “The consolidation trend leading to the creation of ‘jumbo’ dry bulk concerns with fleets of over 100 vessels is thus continuing and is expected to gather pace in the years to come.”

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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