By Antonis Tsimplakis

 

The Hellenic Shipowners Association published its annual report for the period 2022-2023 on the important developments in maritime policy.

 

According to the report, the important and leading role of Greek shipping is recorded at national, European and global level.

 

More specifically:

Greece remains the largest shipping country in the world, as the Greek fleet controls 21% of the world’s tonnage, with a fleet of 5,520 ships.

 

The importance of Greek shipping is even greater in the EU, as more than 70% of the EU fleet is controlled by companies of Greek interests. The Greek-owned fleet contributes decisively to ensuring the food security and energy autonomy of the European Union.

 

The Greek shipping community is constantly investing in new, more efficient ships and technologies, thus steadily reducing the environmental footprint of the industry.

 

The Greek-owned merchant fleet is the world’s largest cross-trader. It transports cargoes between third countries with more than 98% of its fleet capacity. Greek shipowners are mostly active in bulk/tramp shipping, the segment of the industry that specialises in the carrying of staples, such as grain and other agricultural products, oil and gas, iron ore, chemical products, coal, fertilizers and forest products. Bulk/tramp shipping has the features of an almost perfectly competitive market and shipowners are price-takers.

 

Greek shipowners do not only utilise significant economies of scale but they continue to invest heavily in new-build vessels and equipment of high environmental performance. They currently (April 2023) have 241 ships on order, corresponding to 19 million dwt. This represents a significant increase of 40% compared to the previous year’s orderbook (173 ships), attesting to the Greek shipping sector being the frontrunner also in fleet renewal. It is estimated that more than 40% of oil tankers and almost one out of 6 LNG carriers being built today will be delivered to Greek shipowners. Moreover, the average age of the Greek-owned fleet, around 10 years, is lower than the global average, almost 11 years.

 

The president of the Union of Greek Shipowners, Melina Travlou, noted: “In the current challenging environment, it is vital we work together with a common vision. Concerted and concrete actions are required to maintain our historical seamanship and advance our industry, whilst in parallel maintaining our leadership and positioning ourselves for an ever-changing global status quo. Our goal is to safeguard Greek shipping, to safeguard our national asset”.