Greece has always been a maritime nation but new data reveal how its fleet of ships is now worth more than that of Japan and economic powerhouse China.
With an owned fleet worth just shy of $100 billion, Greece tops the World Fleet Values Ranking produced annually by the leading sector organization VesselsValue.
This report says Greek owners remain the dominant force in global shipping. It is followed closely by Japan and China, worth $89 and $84 billion respectively.
The value is concentrated in the tanker ($36 billion), bulker ($35.75 billion) and LNG ($13.5 billion) vessel types. Hellenic control of these markets stands at about 19 percent of the total worth of the fleets.
The strong commitment by Greek owners to the global shipping market looks unlikely to change as others, such as Germany, are liquidating assets, VesselsValue says, adding:
“Greek owners, with their sharp focus on commercial results, should continue to lead the pack for the foreseeable future.”