BULK SOLITAIR

By Kevin Oates

This time last year I was writing an article to be published in Marine Money about how resilient the Greeks are. After going through an incredibly depressed market for two years, after surviving the grilling of ISM and after putting up with the endless press about consolidation and corporatisation and how all of this was going to spell the end of Greek shipping as we know it, the Greeks have come out the other end pretty much intact. It is fair to say that 2000 was a good year for shipping (except perhaps for the reefer sector) and a very good year for Greek conventional shipping. Markets improved, owners were enthusiastic buyers of more modern tonnage and some of the stronger owners continued the newbuilding spree that had begun in 1999. Here, at the beginning of 2001 all looks well.

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