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Greece's
ocean-going fleet is among the world's largest, with more
than 3,400 vessels totalling almost 140m deadweight tonnes.
The Greek fleet accounts for about 16% of global
tonnage. Greek shipowners are traditionally involved in
cross-trading, mainly of dry bulk cargoes and oil.
The average
age of the Greek-owned fleet - almost 20 years - is the oldest
among the world's leading merchant fleets. But the sector
is modernising, as regulation of the shipping industry is
gradually tightened amid rising concern about environmental
protection. Last year, Greek owners placed a record number
of new building orders, taking advantage of attractive prices
offered by international shipyards, especially in South Korea.
Greek
owners have placed orders for more than 220 vessels, totalling
some 15m deadweight tonnes, with an estimated value of $8
billion, according to international shipping weekly Tradewinds .
The number of new building orders has doubled over the past
year, partly because of a shortage of good-quality tonnage
on the second-hand market.
Greek
owners are ordering not just one or two ships, but as many
as six or even ten. In the past few months, several owners
who specialised in operating second-hand vessels have placed
their first orders for new buildings. The orders cover almost
all types of vessels, although the biggest percentage is for
dry bulk carriers, which traditionally make up about half
the Greek-owned fleet in tonnage terms. Most ships are due
for delivery in 2001-2002.
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