The Greek Market at a Glance

Greeks developed a keen interest in shipping very early, as Greece is surrounded by sea and hundreds of islands lie in its two major seas, the Aegean and the Ionian. For many years, shipping was the primary source of income for the native people of the islands and or others living on the coast of mainland Greece. In the process, the Greeks developed a relationship with the shipping activities that goes beyond business. Shipping has become part of the Greek culture, and this may be the best explanation of why Greece, a small country, owns the largest fleet in the world for the past decades.

Greek shipowners have been renowned for their ability to time the market in the best possible way and to take advantage of its cyclical fluctuations to expand their fleets. Besides the owners with the large fleets and a dominating presence in the industry, there are hundreds of smaller owners who own from one to ten vessels.

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