By L. Karageorgos
The second hand market for ocean-going vessels recorded a turnover of 12.5 billion US dollars over the first seven months of 2017, with Greek shipping interests again taking a leading role by investing roughly 2.93 billion USD of the figure.
According to Allied Shipbroking, a total of 950 vessels changed hands between January and July 2017, compared to 714 vessels and a total outlay of 9.74 billion during the same period of 2016.
Greek shipping interests purchased 175 vessels in all types of categories, whereas during the first seven-month of 2016 the figure was 153 vessels, and a total investment of 1.95 billion euros.
Bulkers mostly dominated the interest of Greek shipping companies, with 114 and 118 purchased in 2017 and 2016, respectively; 37 and 19 tankers, respectively, during the same two-year period.
According to the shipping brokerage firm Golden Destiny, Greek shipping interests in July 2017 significantly slowed their purchases, something that was also cited for July 2016, and in opposition to heightened purchasing by Chinese shipping interests.