Greece is a maritime nation and today celebrates WorldMaritimeDay.
Greece only accounts for 0.15% of the world population but Greek shipowners control 21% of the global tonnage making the Greek-owned fleet the world’s largest cross-trading fleet.
More info about the Greek-owned fleet here:
Greek shipping is a truly entrepreneurial sector that maintains
characteristics of perfect competition:
• A very large number of private, family-owned enterprises compete
for business.
• Information is abundant and transparent.
• Entry and exit costs are low.
• High responsiveness to shifts in trade patterns and ability to
readily adapt to major reorientations of global trade flows.
• Being engaged mostly in tramp shipping, Greek shipowners in
practice usually charter their ships out to the charterer, who
then controls the vessel’s itinerary, cargo type and quantity,
service speed and fuel consumption.
• The efficient commercial and safety/technical management
(International Safety Management - ISM Code) are crucial for
the tramp shipowners’ economic sustainability.
• A traditional reliance on commercial bank financing19.
Greek shipowners continuously renew and expand their fleet,
embracing technological developments and investing in
innovative, more efficient and environmentally friendly vessels.
• The age profile of the Greek-owned fleet is 11.7 years, well below
the world fleet’s average age of 15.2 years20.
• Greek shipping is also a leader in safety, with 0.43% of the Greek
merchant fleet and 0.11% of total tonnage being involved in a minor
accidents21.
