According to Seatrade Maritime News, the number of shipping firms in Greece (excluding passenger ships) dropped from 773 in 2009 to 592 in 2023. This decline is largely due to industry consolidation, with many “single-shippers” disappearing. Additionally, some companies have relocated to more business-friendly regions like Dubai, Singapore, and Monaco. However, there are exceptions, such as the creation of spin-off companies.
Growth in Tonnage but Fewer Companies
While the total number of Greek shipping firms fell to 592 in 2023, there was a 2% increase in the tonnage of the Greek-owned fleet, marking the addition of 85 units. Despite fewer new companies, the number of larger firms with 25 or more vessels reached a record high of 57, a sign of the growing influence of large operators in the sector.
Tonne Millionaires Rebound
The number of companies managing over 1 million tonnes (“Tonne millionaires”) rebounded to 83 in 2023 after a slight dip in 2022. This group now controls 79.3% of the fleet, returning to 2021 levels.
Older Fleets and Newbuild Hesitations
The average age of Greek fleets increased to 14.3 years in 2023, up from 14.1 in 2022. This reflects a continued hesitation toward ordering newbuildings, a trend that has led to the aging of the Greek fleet.
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Source: Seatrade Maritime News
