Resilience and Growth in Shipping: The Strength of Greek Shipowners
The experience of Greek shipowners from past crises, their measured strategies, and their access to funding and equity at a time when banks began reducing their exposure to the sector are key reasons why many emerged stronger from the economic crisis that has affected our country in recent years.
According to data from the brokerage firm Clarksons, published by the international maritime magazine TradeWinds in January 2015, the Greek-owned fleet had a combined total capacity of 180.6 million tons, accounting for 15.4% of the global fleet.
The ability of Greek shipowners to make quick decisions on ship sales and purchases, as well as to identify market lows for new investments, is credited for these achievements.
Based on studies by the Foundation for Economic and Industrial Research (IOBE) and the Boston Consulting Group (BCG), the overall contribution of the Greek shipping sector to the Greek economy is significant and consistently estimated at over 7% of the country's total GDP, providing direct and indirect employment to 192,000 people.
It should also be noted that Greece's global dominance in commercial shipping, the only internationally recognized Greek business leadership, is a result of the high competitiveness and quality of the services provided, without any financial burden on the Greek state.
Additionally, Greek shipping companies remain one of the main sources of income for both Greek and foreign banks and exhibit some of the lowest levels of non-performing loans among all Greek sectors and among shipping companies of other nationalities.
With extensive experience in the maritime sector, we offer reliable, accurate, and specialized accounting services tailored to these companies. In this context, we can handle the entire spectrum of relevant accounting matters, whether they pertain to shipping partnerships, joint ventures, or shipping and management companies.
