By Antonis Tsimplakis

The 9th Naftemporiki Shipping Conference was held this week in Athens, sending a message of confidence in the strategic role of Greek shipping and its vital contribution to the national economy.

Melina Travlos, President of the Union of Greek Shipowners, delivered a compelling address on the role of shipping in the global economic and geopolitical landscape at the conference.

"We are facing multiple and ever-expanding fronts," she stressed. "From unrealistic decarbonization targets and regulations, to ever-increasing protectionism and the fundamental matter of safety. All of these are testing the resilience of the sector every day."

In a rapidly changing global environment, the president highlighted the need for transnational vigilance and joint action. "A global commitment is needed to ensure the uninterrupted movement of maritime transport. This was the key message I conveyed to the UN in New York," she said.

Active supporter of the Greek economy

Travlos also thanked the Greek government and Prime Minister Kyriakos Mitsotakis, who called for placing the issue of maritime security at the center of the UN. "It was an initiative of historic importance, which honored Greek shipping and gave it the opportunity to position itself in the global dialogue as a leading force," she noted.

Greek shipping, as she said, is an active supporter of the Greek economy, a multi-level investor and a stable social partner with a huge humanitarian footprint – both on an individual and collective level.

McKinsey: 14 billion dollars and 150,000 jobs the contribution of Greek shipping to economy

The contribution of Greek-owned ocean-going shipping to both the global and domestic economy is highlighted by data from a study conducted by McKinsey & Company, which was presented at the conference.

The study refers to the Greek "paradox," according to which Greece—a country that accounts for less than 0.3% of global GDP—controls approximately 20% of the world's ocean-going shipping, highlighting its dominant role in the international maritime market. This disproportionate influence underscores the strategic importance of shipping for Greece, with the sector affecting one in every fifteen jobs in the domestic private sector. Essentially, ocean-going shipping is a vital pillar of the Greek economy, comparable to the automotive industry in Germany or the watchmaking industry in Switzerland.

The McKinsey & Company study also highlights a series of interventions that could significantly contribute not only to maintaining but also to further strengthening Greece's position in global shipping. Specifically, an additional annual impact of 3–4 billion dollars could be achieved, primarily through expanding the base of Greek seafarers, developing shipyards, and investing in maritime technology.

As emphasized in the study, this potential can become a reality through strategic positioning within an evolving global trade landscape, as well as by promoting partnerships and alliances to create economies of scale and drive change and innovation.

Greece's Position in the Global Shipping Industry

As highlighted in the study, the European Union controls approximately 32% of the world's shipping capacity, while only 10%–20% of global trade flows pass through European ports. Of this vast capacity, nearly two-thirds is under Greek ownership or control, positioning Greece as a global leader in maritime freight transportation.

The Greek fleet numbers over 5,000 vessels, making it one of the largest and most significant in the world. Over 26% of Europe's seaborne crude oil imports are transported by Greek-owned tankers, which account for around 20% of global tanker capacity. At the same time, 21% of the global capacity of Liquefied Natural Gas (LNG) carriers is also Greek-owned, serving a substantial portion of Europe's energy needs.

Greek shipping controls nearly 20% of global capacity in ocean-going shipping, showcasing the sector's expertise and strategic foresight. The total value of Greek shipping assets is estimated between 140-180 billion, with annual gross revenues ranging between 40-50 billion dollars.

On a global scale, there are about 60,000 ocean-going vessels over 1,000 gross tonnage (GT), with more than 11,000 companies active in deep-sea shipping. The average asset value per vessel exceeds 1.1-1.3 million, while the total annual revenue of the sector is estimated between 400-450 billion euros.

A Pillar of the National Economy

Greek shipping continues to be one of the main engines of the Greek economy, leaving a strong mark both internationally and domestically. According to the latest data, Greek-owned vessels account for a significant share of global "ton-miles"—a measure that combines cargo weight with transportation distance. Specifically:

16% of global tanker ton-miles are carried out by Greek ships.

16% of bulk carrier ton-miles are also covered by Greek shipowners.

27% of global LNG (Liquefied Natural Gas) ton-miles are handled by Greek vessels.

This presence is not only impressive on a global scale but also crucial for the Greek economy. Notably, about 15% of employment linked to shipping stems from non-shipping-related activities, underscoring the wide-ranging indirect benefits the sector brings.

Employment and Payroll Impact

10% of total private-sector payroll in Greece is directly or indirectly connected to shipping.

6% of total private-sector employment comes from the shipping industry.

Shipping jobs offer salaries three times higher than the Greek national average. Specifically:

The average annual salary for onshore shipping positions is around 55,000 euros.

For seafarers, it rises to approximately 65,000, making shipping one of the most lucrative sectors in the Greek labor market.

Jobs Created by the Sector

Direct employment:

20,000 jobs in ship management

17,000 Greek seafarers working on Greek-owned vessels

9,000 jobs in the broader maritime cluster (including agencies, legal and technical services, chartering, etc.)

In summary, Greek shipping is not only a world leader in tonnage and operational reach but also a strategic national asset, fueling the economy with high-paying jobs, investments, and extensive indirect benefits across other industries.

Social Contribution

The study also highlights the important charity work of Greek shipowners. According to the presented data, Greek shipowners contribute substantial funds—estimated at over 400–500 million dollars annually—to social solidarity initiatives.