Greek owned shipping fleet has seen an increase in stock in the past year, after an extra 202 ships entered the mould, taking the total to 4,909 – an increase of 4.3 per cent.
The jump is the largest the Greek fleet has seen since 2009, despite the country’s economic woes.
Whilst the fleet has grown, so has the sizing of the individual ships, meanwhile the average age has declined from 13.2 years last year to 12.7 years.
It is thought shipowners are taking advantage of lower purchasing costs.
The statistics gathered by Petrofin Research in Athens earmark the industry’s ability to remain durable despite the turbulent economic and political environment, a sentiment supported by Petrofin MD Ted Petropoulos.
“Greek owners are committed to building up their eco fleets, as the vessels of the future and in the expectation that they will reap rewards in time, when conventional tonnage shall either be scrapped or shunned by charterers,” he said.
“In light of the continuing Greek political and economic crisis and the huge uncertainty surrounding the future of Greek shipping being operated out of Greece, due to the expected increase in taxation, the growth in vessels’ capacity and improvement in age comes as a surprise.
“Greek owners are renowned for their ability to pick the right time to invest and disinvest. Time will show if they got it right once again in these unprecedentedly challenging times.”
The fleet is predominantly made up of dry-bulk carriers and tankers.