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Marmaras
Navigation
A Piraeus -based
operator, which has built up a fleet of 35 small, second-hand
bulk carriers, entered the new building market with a $160m
order for eight new bulk carriers. The company ordered two
74,000dwt Panamax carriers from a Japanese yard and six 50,000
dwt vessels at a Korean yard. The deal marked a significant
departure from Marmaras' previous strategy of gradual acquisitions
of secondhand vessels, operated mainly in the spot market
rather than for time-charters. The new vessels would increase
the Marmaras tonnage to over 2m dwt, making it one of the
largest international operators of dry bulk carriers.
Polembros
An established operator of second-hand tankers, surprised
the market by placing an order for two new tankers in Korea
as part of a broad restructuring. The Polembros group, which
operates more than 30 tankers built in the 1970s and 1980s,
is among several Greek operators switching strategy in response
to international oil companies' requirements and new regulatory
constraints. A series of tanker losses in the early 1990s
forced the group to revamp operating procedures and launch
a fleet renewal. Last year, the group followed the example
of an increasing number of London-based Greek shipowners,
and moved its chartering and insurance operations from London
to Piraeus, where its technical operations are based.
Costamare
The biggest Greek containership operator has ordered ten
new buildings at a total cost of $300m, which will more than
double its container-carrying capacity. Greece's container
operators have become accustomed to ordering new vessels to
maintain fleet competitiveness with northern European and
US-based operators. But changing market conditions in this
segment of the industry have increased demand for charters
from independent operators. International liner companies
have focused on building new container terminals and investing
in information technology rather than buying ships.
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