Greeks Invest $2.93bn in Second-hand Ships in 7-month Period

Shipowners worldwide invested approximately 1.5 billion dollars in second-hand vessels in the month of July boosting the number of transactions by 39 percent compared to the previous month and by 33 percent against July 2016.

According to shipbrokers Golden Destiny, a total of 154 ships changed hands globally in July compared to 111 in June, with Greeks spending 220 million dollars or 10 percent of all their transactions in July for the purchase of 15 ships – nine bulk carriers, four tankers and two containerships.

Greece’s biggest rivals, the Chinese purchased 27 ships in July compared to 23 in the same month last year.

Over the first seven months of 2017, more than 12.5 billion dollars were spent on second-hand ships worldwide, with Greeks leading the way, investing 2.93 billion dollars on 175 ships primarily bulkers (114 in 2017 versus 118 in 2016) and tankers, compared to 153 worth 1.95 billion dollars in the same period last year.

More specifically, according to sale and purchase broking house Allied Shipbroking, 950 ships valued at 9.74 billion dollars were exchanged globally in the January-July 2017 period against 714 vessels in 2016. Of the 950, 391 were bulkers worth 4.62 billion dollars, 237 were tankers with a value of 4.43 billion dollars, 180 containerships valued at 1.23 billion dollars and 23 gas carriers valued at 641.8 million dollars.