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Greek Controlled Shipping 2022

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24 March 2022 An information paper, based on data provided to the GSCC by IHS Markit

For the 35th consecutive year the GSCC presents statistical data, in the form of 11 tables on Greek controlled ships over 1,000 GT, registered under the Greek and other flags. The data has been provided by IHS Markit.

The following is a short analysis, prepared by the GSCC Secretariat, of the data provided.

Information from Table 1, compared with corresponding data from the previous year, shows that, during the year to March, 2022, the Greek controlled fleet has increased in terms of number of vessels, and has reached a record high in terms of DWT and GT. According to the data, as of 01.03.2022, Greek interests controlled 4,140 vessels of various categories, of 355,342,694 total DWT and 210,077,273 total GT. Compared with the previous year’s data, this represents an increase of 102 vessels, and an increase of 4,876,695 DWT and 4,429,704 GT.

The figures include 167 vessels of various categories on order from shipyards, a total of 16,264,486 DWT
and 11,137,069 GT.

The fleet registered under the Greek flag has decreased in terms of ship numbers, DWT and GT, now comprising of 570 ships, of 35,600,214 GT and 59,614,661 DWT as opposed to the previous year’s figures of 584 ships, of 36,623,355 GT and 62,317,858 DWT.

TABLE 1: Flag Analysis of Ships owned by Greek Parent Companies

The Greek controlled fleet is registered under some 28 flags.

Flag analysis of ships owned by Greek parent companies, which gives the total number of ships, total DWT and total GT, registered under each of the main registries used by Greek owners, compared with the corresponding table of last year, shows that Marshall Islands gained 132 ships, Liberia 83 ships, Cyprus 7 and Bahamas 2 ships.

On the other hand, decreases have been recorded in the number of vessels under the Panamanian, Singaporean and Hong Kong flags. These registries recorded losses of 113,10 and 9 ships, respectively. The number of vessels registered under the Maltese flag remained unchanged.

Furthermore, the Greek flag, recorded a loss of 14 ships this year, 2,703,197 in DWT and 1,023,141 in GT. Minor changes have been noted for all other flags.

The table below shows the gains and losses in number of ships, GT and DWT for the main registries of Greek controlled ships.

Overall, the Liberia and Marshall Island flags are at the forefront of the Greek owned fleet with 1014 and 1009 Greek owned ships, respectively, on their registers. In terms of DWT, Liberia is at 90,031,049 representing 25,3% and Marshall Islands is at 79,756,562 representing 22,4% of the total DWT of the Greek owned fleet. Malta comes next with 658 ships of 62,686,264 DWT representing 17,6% of the total DWT of the Greek owned fleet.

The Greek flag follows with 570 ships of 59,614,661 DWT. However, it should be noted that the Greek flag remains in the fourth place globally in terms of DWT, as it represents 16,8 % of the total DWT of the Greek owned fleet.
Panama comes next with 306 ships of 19,861,113 DWT, Cyprus with 209 ships of 14,467,559 DWT, and the Bahamas with 206 ships of 18,642,438 DWT.

TABLE 2: Ship Type, DWT and Order Book – Greek Parent Companies

Comparing Table 2 with the corresponding table of the previous year, the following increases/decreases in number of ships and DWT are noted.

With regard to the order book, as to ship type, currently there are 54 oil tankers on order for account of Greek owners, 18 chemical & products tankers, 43 liquefied gas tankers, 17 ore & bulk carriers and 35 container ships on order.

TABLES 2 & 3: Comparison between the world fleet and Greek owned fleet per ship type

The following table presents the Greek controlled fleet in number of ships, in comparison with the world fleet, providing the figures as to ship type.
What is notable is that Greek parent companies represent 26,1% of the world tanker fleet and 15% of the Ore and Bulk fleet.

Overall, as shown in Table 4 of the attached data, the Greek owned fleet stands at 7% of the world fleet in terms of ship numbers, 12.9% in terms of GT and 15.3% in terms of DWT.
The Greek registered fleet as a percentage of the world fleet, in terms of number of ships, GT, and DWT is 1, 2.2 and 2.6 respectively, according to Table 9. It should be noted, however, that for oil tankers the percentages are 6.7, 7 and 7.1 respectively.

TABLES 3 & 4: Ship Type of the World Fleet and the Greek Fleet

Due to Covid-19 related challenges and opportunities, as well as the forthcoming regulatory requirements, while the market conditions remained unstable, slight increases and decreases were noted in most of the categories of the Greek owned fleet.

In particular, an increase in the Greek fleet as a percentage of world fleet was recorded in the categories of Ore & Bulk Carriers and Liquefied Gas Carriers.

With the exception of Chemical and Product Tankers, which increased slightly in terms of DWT, the remaining categories recorded a slight decrease or remained unchanged in terms of number of ships or DWT in relation to the corresponding world fleet type for the year 2021.

Compared to the previous year, the percentages are as follows:
Oil Tankers

Percentage in terms of number of ships 2021: 26.5
Percentage in terms of number of ships 2022: 26.1
Percentage in terms of total DWT 2021: 26.4
Percentage in terms of total DWT 2022: 25.3

Chemical & Products Tankers
Percentage in terms of number of ships 2021: 6.4
Percentage in terms of number of ships 2022: 6.3
Percentage in terms of total DWT 2021: 11.4
Percentage in terms of total DWT 2022: 11.6

Liquefied Gas Carriers
Percentage in terms of number of ships 2021: 9.7
Percentage in terms of number of ships 2022: 12.1
Percentage in terms of total DWT 2021: 11.2
Percentage in terms of total DWT 2022: 15

Ore & Bulk Carriers
Percentage in terms of number of ships 2021: 14.9
Percentage in terms of number of ships 2022: 15
Percentage in terms of total DWT 2021: 16.8
Percentage in terms of total DWT 2022: 17

Container Ships
Percentage in terms of number of ships 2021: 7.2
Percentage in terms of number of ships 2022: 6.2
Percentage in terms of total DWT 2021: 7.5 Percentage in terms of total DWT 2022: 5.6

Cargo Ships
Percentage in terms of number of ships 2021: 1.4
Percentage in terms of number of ships 2022: 1.3
Percentage in terms of total DWT 2021: 2.0
Percentage in terms of total DWT 2022: 2.0

Other Cargo Ships
Percentage in terms of number of ships 2021: 0.4
Percentage in terms of number of ships 2022: 0.4
Percentage in terms of total DWT 2021: 1.0
Percentage in terms of total DWT 2022: 0.9

Passenger Ships
Percentage in terms of number of ships 2021: 3.3
Percentage in terms of number of ships 2022: 3.2
Percentage in terms of total GT 2021: 2.8
Percentage in terms of total GT 2022: 2.7

TABLES 5, 6 & 10: Average Age Analysis of Existing Ships owned by Greek Parent Companies, Registered ships and the World Fleet

The average age of the Greek controlled fleet in terms of ships increased slightly compared to the previous year, but, nevertheless, continues to be 2.4 years below the average age of the world fleet.

The average age of the Greek controlled fleet in terms of ships now stands at 12.3 years as against 14.7 years for the world fleet. In terms of GT and DWT, it is 10.5 and 10.5 years respectively, as against 10.6 and 10.4 of the world fleet.

The average age of the existing Greek flag fleet recorded a slight increase, in terms of ship numbers, GT and DWT, standing at 14.2, 10 and 9.7 years respectively as against 13.9, 9.9 and 9.6 years in 2021.

TABLE 7: Class Analysis of Greek Parent Companies

The following six major international classification societies have the majority of the Greek controlled fleet on their books:

  1. ABS: 808 ships (751 ships in 2021),
  2. ClassNK: 780 ships (744 ships in 2021),
  3. Lloyd’s Register: 773 ships (778 ships in 2021),
  4. BV: 712 ships (671 ships in 2021),
  5. DNV: 597 ships (640 ships in 2021) and
  6. RINA: 237 ships (229 ships in 2021).

TABLE 11: Class Analysis of Greek Registered Fleet

The following six major classification societies have the majority of the Greek registered fleet on their books:

  1. ABS: 175 ships (181 ships in 2021),
  2. Lloyd’s Register: 111 ships (126 ships in 2021),
  3. DNV: 78 ships (83 ships in 2021),
  4. RINA: 68 ships (70 ships in 2021),
  5. BV: 68 ships (62 ships in 2021),
  6. CCS: 29 ships (21 ships in 2021) and
  7. ClassNK: 14 ships (14 ships in 2021).

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