Greek-owned fleet is worth $100 bln

The total value of the Greek-owned merchant fleet is almost $100 billion, according to data compiled by VesselsValue, making it by far the world's biggest.

The international ship valuation company found that the fleet controlled by Greeks adds up to $99.589 billion, with $36 billion of that concerning tankers, $35.75 billion dry-bulk carriers and $13.5 billion liquefied natural gas (LNG) carriers.

It must be noted that the fleet is burdened by borrowing for acquisitions, which is estimated by market experts to be in excess of 50 percent of the ships' total value.

The Japanese-controlled fleet ranks second, at $89.122 billion, while the Chinese-owned fleet is third, at $83.544 billion. Those values are based on the figures recorded at the end of 2017 and are significantly higher than the previous year's equivalents.

"The strong commitment of Greek shipowners...