Greek-Owned Fleet Tops $100bn In Value

Greece’s shipowners control the world’s most valuable fleet, according to a new report by online vessel valuation service VesselsValue.com.

The Greek-owned fleet, which is also the world’s largest by dwt, was valued at $101bn.

The result underlined the increasing modernity of the fleet acquired by the country’s owners, which came in well ahead of the second-placed Japanese-controlled fleet, worth $89bn, according to the report.

Chinese shipping, including vessels controlled from Hong Kong, is said to be worth more than $72bn.

In fourth place is the German-owned fleet, worth $53bn, said the valuer.

Singapore, Norway and South Korea came next with fleet values of $30.4bn, $29.6bn and $28.6bn respectively.

The UK-linked fleet was said to be worth $22bn, just behind that of the US, valued at $23bn, and immediately ahead of the Danish fleet, said to have a present market value of $20bn.

Broken down by shipping sector, it emerges that although 43% of the market value of the Greek-owned fleet lies in dry bulk carriers worth an aggregate $43.4bn, Greeks’ bulker fleet is less valuable than that of Japanese owners, which is valued at $50.6bn. The Chinese bulker fleet came a close third in value at $40.7bn.

However, Greeks control by far the most valuable fleet of tankers in the world, appraised to stand at $33.7bn, double the next most valuable fleets, of Singapore and Japan at about $16bn each.

Greek owners have also raised their holdings in the containership sector during the last few years and now control a boxship fleet worth more than $10bn, according to VesselsValue.com.

However, they are still behind the leader, Germany, which hosts a containership fleet worth $32.7bn and China, which is said to have a container fleet valued at more than $13.8bn.

A surge of investment by leading Greek owners in modern liquefied natural gas carrier newbuildings has led to an $11bn LNG fleet, topping that of both Japan at $10bn and Qatar at $7bn.

Greeks are now estimated to have a 16.5% share of the world LNG fleet by value, compared with 17.8% of world tanker fleet value and 17.4% of international dry bulk fleet value.

Altogether VesselsValue.com appraises the value of the world fleet, in bulk carriers, containerships, gas carriers and tankers, to be about $660bn.

For more maritime news see Lloyd’s List online

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