Shipping

Borrowing by Greek shipping companies' from local banks dropped 15.22 percent in 2015 compared to the year before, data from Petrofin Bank Research have shown.

The total borrowing of Greek-owned shipping firms from Greek and foreign lenders came to $62.71 billion last year, down 2.04 percent from 2014. Of that, $9.17 billion came from Greek banks.

According to data by maritime site ‘VesselsValue.com’, the Greek merchant fleet is ranked on the top of global value. The aggregate asset worth of the Greek-owned fleet is larger than that of Norway, Britain and Germany combined!

Greek-interest merchant shipping fleet totaled 4,092 vessels in February 23, 2016, recording an increase of 35 vessels compared with the same period last year, the Greek Shipping Cooperation Committee said in a report.

The London-based Committee said that the data included 347 vessels currently ordered in international shipyards.

A pending draft law on the Piraeus Port Organization aims to pave the way for the submission of binding offers for a 51% stake of the Piraeus port by three candidate investors participating in the second phase of the tender (COSCO, AMP Terminals Maersk, ICTSI).

Sirens sounded this week in the all-important Greek shipping sector, a field where Greek interests traditionally enjoy top international rankings in terms of vessel ownership, revenues, tonnage and annual percentage of transported cargo.

One of the biggest containers ships in the world, the MSC Istanbul, arrived at the port of Piraeus on Thursday.

The vessel, which belongs to one of the port’s biggest customers, Mediterranean Shipping Company SA of Geneva, was built in 2015 and can transport … 16,652 containers!

The appearance marked the first time it docked in Piraeus.

Beijing on March 4 defended a Chinese cargo ship detained by Colombia, arguing that the freighter was carrying "ordinary military supplies" to Cuba.
      
The comments by China's foreign ministry came one day after Colombian authorities announced that they had detained the captain of the Hong Kong-registered Da Dan Xia and would charge him with weapons trafficking.

By Ilias Bellos

The Greek-owned merchant fleet remains a world leader in terms of value, with assets whose worth is estimated at $105.65 billion, above the combined fleets of the United Kingdom, Germany and Norway, according to data compiled by VesselsValue.com, which specializes in ocean-going ship valuations.

By Nikos Roussanoglou

Greek shipowners accounted for 30 percent of all ship acquisitions in the world in August, as they bought 23 vessels with a total capacity of 2.14 million deadweight tons and a total value of 622.1 million euros, according to data released by shipbrokers Golden Destiny.

Oil traders have the greatest incentive in four years to store crude at sea and sell it as prices rise, prompting speculation about a revival in the trade once used by companies including BP Plc and Citigroup Inc.

Brent for September traded at $107.60 a barrel at 2.42 p.m. on Wednesday, $1.16 more than the same grade for August, according to the ICE Futures Europe exchange.