Posidonia: Greek-Owned Fleet is World's Most Valuable

In the runup to Posidonia 2016 in Athens, dignitaries from the world of shipping – and the world of politics –are getting ready for what organizers expect will be the largest ever year of the conference. Greek Prime Minister Alexis Tsipras will be on hand for the opening ceremony Monday, and IMO Secretary General Kitack Lim will be in attendance, along with EU Transport Commissioner Violeta Bulc and Minister of State at the  UK Department for Transport Robert Goodwill. 1,800 exhibitors and 20,000 visitors are expected. 

“Posidonia 2016 is the most prominent yet. There can be no more eloquent acknowledgment of the Greek shipping community’s success and dynamism than this,” said Posidonia Coordinating Committee chairman Yiannis Lyras, speaking to Ekathimerini. 

In advance of the event, VesselsValue has released new data on the Greek-owned fleet – the world's most valuable at $90 billion, about 15 percent of the global total. By tonnage, it is an even larger fraction, nearing 20 percent.

“Greece’s ocean-going shipping sector maintains the highest ranking in the world and we continue to expand,” said George D. Pateras, President of the Hellenic Chamber of Shipping, speaking at a conference early this week. 

Leading owners like Thenamaris, Dynacom Tankers, GasLog and Danaos give the Greek maritime industry its preeminence – especially in tankers, bulkers and LNG carriers. Greek owners hold $40 billion in tankers alone, plus an additional $22 and $13 billion in bulkers and LNG carriers. Its 4,400 ships are about one year younger on average than the global median. And in a market downturn, Greek owners have been leaders in secondhand purchasing activity, with $1 billion worth of deals over the past twelve months, three times more than the next most active buyers. They also have an additional 400 vessels worth $20 billion on their orderbooks, primarily from orders placed in past years; half of that value is in tanker tonnage.