Greek Shipping is First in The World in Vessel Value



The Greek shipping has risen to first place in the world as measured by the value of its vessels, the ”VesselsValue” data company announced earlier this week.

Shipping vessels owned by Greek companies reached $105 billion (€92 billion) in value in 2018, which was an increase of €5 billion in less than a year. This was seen as mainly due to Greek shipping companies’ high demand for LNG vessels, which are tanker ships designed for transporting liquefied natural gas (LNG).

Greek companies grabbed first place in the subcategory of LNG vessels from the Japanese, who came first in 2017.

Greek-owned vessels reached $105 billion in value last year. Photo by VesselsValue

The value of the Greek-owned LNG vessels reached $18.4 billion (€16.2 billion) in 2018, while the Japanese fleet was worth $15.2 billion.

The Chinese fleet had a value of $90 billion in total, recording the largest increase among the top ten. Fleets from Singapore, Norway and the US followed in fourth, fifth and sixth places respectively.

The seventh place was occupied by Germany; the value of that country’s fleet has been on a downward trend during the last few years.

The eighth, ninth and tenth places were taken by South Korea, the UK and Denmark respectively, with the British fleet worth $29 billion and the Danish $23 billion.