World Economy

Greek Shippers Benefitting

Greek Shippers BenefittingGreek Shippers Benefitting

Greek shipowners invested a total of 1.7 billion euros in March and April alone in newbuild orders – mainly tankers at Asian shipyards – as shipbrokers’ data show, ANSA reported. This constitutes a marked increase in investing in this particular market compared with previous months as daily Kathimerini online notes. This comes in stark contrast with other categories of ships where activity is close to zero. The main example of that is the dry-bulk carrier category, as its market remains in decline and will likely stay that way for the next couple of years at least. Consequently, Greek shippers are again turning toward tankers, where rates are maintaining a steady northbound course.