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Greece bought ships worth over 9 billion euro in 2012 alone

09 March 2013 / 16:03:54  GRReporter
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Sixteen of a total of 24 nautical companies with Greek participation that were part of the American and the British stock exchanges in 2012 acquired a total of 55 ships. The majority of the companies benefited from the situation associated with the value of the vessels in order to restructure their fleet as much as possible and deal with difficulties caused by the maritime crisis. The minority of these companies were forced to sell ships in order to pay their liabilities. In total, the Greek Navy bought 29 more ships in 2012 and now their number reaches 628.

The companies that participated on the market last year include Konstandakopoulou’s Costamare, which is currently controlling a fleet of 57 container ships, including the ten ships that have been built since early 2012. However, the company sold 7 ships in 2012 and bought seven, resulting in the increase of its fleet’s traffic capacity from 327,000 to 331,000 twenty-foot containers. The company Diana Shipping, owned by Simeon Paliou, also increased its fleet significantly in 2012 and reached 32 dry cargo transport vessels of an average age of 6 years and a total capacity of 3.5 million tonnes deadweight tonnage (DWT), and it is building two more ships. In early 2012, its fleet consisted of 25 ships and two under construction. Its transport capacity at the time was 3,026,000 tonnes DWT. Another Simeon Paliou’s company, Diana Containerships, also increased its fleet with two ships and now it has 11 ships.

Yiannis Koustas’s company, Danaos Corporation, is currently controlling a fleet of 64 container ships with a capacity of 363,049 twenty-foot containers, and, in early 2012, its fleet consisted of 60 containerships with a capacity of 304,249 twenty-foot containers. During this period, Danaos completed a major investment programme and acquired five newly built vessels and sold a container transporter.

Pieter Livanou’s company GasLog is operating a fleet of three LNG carriers - one more compared to the beginning of 2012. Currently, another 9 vessels are being built. Last year, the company had two active vessels and 8 ships under construction. Furthermore, it operates 12 LNG carriers owned by third parties.

In the holding of Angeliki Frangou, all the three companies showed activity on the market for new or used ships. The number of Navios Holdings’ vessels fell to 50 vessels, including 30 owned and 20 leased, and, in early 2012, their number totalled 57 vessels, including 30 owned and 27 leased. However, in early 2012, the transport capacity of the company increased from 4.8 million tonnes DWT to 5.1 million tonnes DWT. The other two companies of Mrs Frangou increased the number of vessels in their fleets. Navios Acquisition had 19 tankers in early 2013, compared to 14 in early 2012, and 8 more ships are currently being built. Νavios Maritime Partners increased its fleet from 18 ships to 21 ships – their number was the same in early 2012.

Michalis Bouduroglou’s Paragon Shipping bought 3 more vessels and now it has 13 ships. In parallel, it is developing a construction programme for a dry cargo ship and two container ships. The increase of its fleet is due to the fact that, in late 2011, the company was building 4 dry cargo ships and two container ships. The three newly built vessels were received. Another Bouduroglou’s company, Box Ships, increased the number of its vessels by two and already has nine container transporters.

Polis Hadziyoanou’s company Safe Bulkers is also very active. In January 2013, its fleet consisted of 25 ships. Currently, the company is in negotiations about the purchase of six more bulk carriers that are now being built, and one that will be received not later than 2015. In January 2012, the company had 18 dry cargo ships and another ten that were ordered. In general, in 2012, the company was very active, since it acquired new and used vessels, and refused two ships under construction.

Stealthgas also plays a leading role on the market of LNG carriers. Today, it has a fleet of 22 vessels with a total capacity of 255,804 cubic metres. In addition, it acquired four newly built ships which it will receive in mid-2014 with an additional capacity of 184,822 cubic metres. The company’s fleet includes three tankers and a small oil tanker, as well as two LNG carriers ordered.

Topships increased the number of its ships by one and it already has 7 ships, including 6 tankers and one bulk carrier.

Which companies reduced their fleet?

Some of the companies reduced their fleets by buying and selling, and other companies shrank under the pressure by banks – for example, NewLead, that now has only four ships - two tankers and two dry bulk carriers, compared to 18 ships in early 2012.

Capital Product Partners is currently controlling a fleet of 25 vessels - two ships less, compared to early 2012. It sold four vessels and acquired two container transporters. George Ikonomou’s Dryships slightly reduced the number of its ships - now it has 46 dry cargo ships and 10 tankers, compared to 49 bulk carriers and 12 tankers at the end of 2011. Its subsidiary, Ocean Rig UDW, however, increased its fleet and now has 11 vessels. Aristidis Pitass’s Euroseas now has one ship less.

Tags: merchant fleet ships tankers container transporters
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