Greece Newbuilding Orders Reach USD 1 Billion

Despite the considerable hold-back in the economy, according to the Golden Destiny’s Annual Newbuilding Report, 62% of the overall orders for the first quarter of the year in bulk carrier sector belong to Greece, Shipping Herald reports.

It appears that Greece managed to outnumber the Chinese market players when it comes to newbuilding activity, since it constitutes 7.4 % of the overall number of orders for the first three months of this year. In addition, an increase in the Greek newbuilding activity emerged in the beginning of 2010, when 250 orders were placed, covering the period to the first three quarters of 2011 when 182 orders were issued.

In concrete, Greece spent $1 billion for newbuilding contracts for the said period, purchasing 13 bulk carriers, 6 tankers and 2 gas tankers. Greece is displaying a growing interest in bulk carriers segment over the last few years. For comparison purposes in 2009 Greece placed orders for 28 bulk carriers, while only a year after this number ski-rocketed to160. Last year the number was significantly reduced and it amounted to 77 carriers.

Apart from bulk carriers, the Greeks focused their interest in boxship units, whose number of orders in 2011 tripled when compared with 2010.

The 2011 also paved the way for considerable jump in orders in the LNG segment, which resulted in 24 orders, as opposed to merely two in 2010.

[mappress]

World Maritime News Staff, April 3, 2012