The Greek-owned fleet is heavily dependent on Chinese shipyards, a reliance that could significantly impact shipping operations if the proposed U.S. port fee is implemented, reports Safety4sea.
Growing exposure to Chinese shipbuilding
According to the Union of Greek Shipowners (UGS), Greek shipowners manage 20% of the global fleet. However, in their latest weekly report, Xclusiv Shipbrokers have raised concerns over Greece’s reliance to the Chinese shipyards highlighting both current fleet data and orderbook trends that show a growing exposure to Chinese shipbuilding. This dependency is particularly notable in the bulk carrier and general cargo sectors, especially for vessels over 10,000 dwt.
According to Xclusiv data, 43% of the Greek-owned fleet was built in China, and 80% of its current dry bulk orderbook is tied to Chinese shipyards. In total, Greek shipowners have a newbuilding programme for 168 bulk carriers, with 135 of them under construction in China.
McKinsey estimates that the Greek shipping sector contributes roughly $14 billion to the domestic economy and supports around 150,000 jobs, both directly (seafarers, shipmanagement) and indirectly.
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Source: Safety4sea
