Report Says Greek Shipping Controls 20 Pct Of Global Fleet In Deadweight Tons

Greek shipping remains a global leader in 2018, controlling 20 percent of the global fleet in deadweight tons (dwt), according to the annual report 2017-2018 of the Union of Greek Ship owners.

“The beginning of 2018 finds our shipping industry maintaining the highest position internationally, controlling about 20 percent of the global fleet in dwt tonnage (including a 30 percent share of tankers and 22 percent of bulk carriers) and representing almost 50 percent of the European Union fleet capacity in dwt terms,” Theodore E. Veniamis, president of the Union of Greek Ship owners noted.

According to the union’s latest figures, the fleet amounts to 4,746 vessels (ships over 1,000 gt) of 365.45 million deadweight tons, marking an increase of approximately 6.6 percent from 2016.

The age profile of the Greek-flagged fleet in 2017 was 13.7 years and that of the Greek owned fleet 11.5 years, whilst the average age of the world fleet was 14.6 years, according to the report.

The shipping industry, a traditional strong pillar of the Greek economy, continues to make a significant contribution to the national economy as the country is set to exit the bailout programs this summer after an acute eight-year debt crisis.

Greek shipping generated 9.14 billion euros (10.7 billion U.S. dollars) in foreign exchange inflows last year, according to the report, up 16.91 percent from 2016.