Greece, according to the EU, remains the leading shipping country in the entire world, a phenomenal achievement for a country of less than 11 million.
Greek shipowners, with 5,514 ships, currently control about 21% of the world fleet, in terms of tonnage (dwt) 1. The total capacity of the Greek- owned fleet has increased by 45.8% compared to 2014, while even during the COVID-19 pandemic, ie from 2019, capacity increased by 7.4%.
Greek shipowners control:
• 31.78% of the global oil tanker fleet
• 25.01% of the global bulk dry cargo fleet
• 22.35% of the global Liquefied Natural Gas (LNG) transport fleet
• 15.60% of the global fleet of chemicals & petroleum products
• 13.85% of the global fleet of Liquefied Petroleum Gas (LPG)
• 9.33% of the global fleet of container vessels
Greek shipping is the backbone of European shipping
The Greek-owned fleet represents 59% of the fleet controlled by Member States of the European Union (EU), which is more than 75% active in the bulk/tramp sector. One third of the Greek-owned fleet bears the flag of an EU Member State operating worldwide.
The Greek-owned merchant fleet transports cargo between countries at a rate of more than 98% of its capacity, making it the largest cross-border carrier in the world.
Greek shipping is mainly active in the field of bulk/tramp transport, which has the characteristics of perfect competition: a very large number of private, mainly Small and Medium Enterprises (SMEs), operate globally in a competitive environment with flexible and efficient management.
This is in addition to asset management data, free access to a wealth of information and low market entry and exit costs.
Shipowners/ship managers in the bulk/tramp sector, transporting cargo on an ad hoc basis, are unable to influence freight rates.
Most bulk/tramp shipping vessels operate on time charter contracts. The charterer undertakes the commercial operation of the ship and determines the type and quantities of cargo to be transported, as well as the route and speed of the ship.
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