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Greece: Ship owners acquire 340 second hand vessels and place orders for 127 newbuildings

Date: 10/03/2015

With Japanese-built vessels being the most sought after, Greek ship owners invested into 340 secondhand vessels over the course of 2014, according to data compiled by shipbroker Intermodal. They also placed orders for 127 newbuildings, a decrease of almost 30% compared to 2013. According to Intermodal’s Research Analyst, Eva Tzima, Greek owners were reported as buyers in 340 of the 2014 reported second-hand sales and as sellers in 153 of them.

According to Tzima, “this trend clearly shows that despite the volatility in the freight market, Greeks were still keen on snapping second-hand tonnage during the year. At the same time they have shown a clear preference on Japanese quality units, while the softening of asset prices that has been taking place since mid-year, has also helped SnP activity, which despite the chal-lenging conditions of the market in 2014, remained pretty much at the same levels we saw back in 2013″.

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