Organizational and Financial Challenges for the Typical Greek Shipping Company

by Dr. Anastasios Aslidis, Marsoft Inc.

The Greek shipping industry has successfully operated under a “low cost” strategy model. Will new trends in shipping put it under pressure and require adjustments to it, if Greek shipping companies are to take advantage of the new realities?

The Greek Shipping Industry
The average Greek shipping company is a family owned entity with about 5-6 vessels with an average age between 15 and 20 years. In fact, 71% of the Greek owned companies have less than 5 vessels representing 25% of the fleet in DWT terms. There are also about 100 companies of Greek ownership with 5 or more vessels – amongst them are some of the world’s largest independent shipping companies. All together, they combine for a total of more than 2,100 vessels above 10,00 DWT.

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