Greece Still Owns The Most Ships

Credit: Greek City TImes

Greek shipowners control 21% of global tonnage, writes Greek City Times source.

The annual report for 2022 – 2023

The annual report for 2022 – 2023 by the Union of Greek Shipowners (UGS) reveals that the country’s owners are in charge of a staggering 21% of the global merchant fleet in terms of deadweight tonnage.

The Greek merchant fleet has experienced impressive growth over the past decade, with a significant increase of 50% in its vessel count. Additionally, the report highlights that Greek investors are making significant investments in new buildings, with a total of 241 vessels currently on order as of April 2023.

These vessels have a combined weight of approximately 19 million deadweight tons, which clearly indicates that Greek owners are among the frontrunners in the shipping industry’s transformation.

Greeks are expected to receive more than 40%

According to estimates, Greeks are expected to receive more than 40% of the newly-built eco-friendly oil tankers and 16% of LNG carriers. As a result, the Greek-owned fleet has an average age of around ten years, which is lower than the average age of almost 11 years globally.

The latest UGS data shows that Greek owners have a significant hold on the EU-controlled fleet’s total capacity, with more than 70% of the most strategic ship type categories under their control. They have an impressive 80% grip on bulk carriers, 73% on oil tankers, 85% on LNG carriers, and 17% on container ships.

It added that over a third of Greek-owned fleets carry an EU member state flag.


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Source: Greek City Times


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