BIMCO: Greek Shipowners Prefer Bulkers

The buying interest from Greek ship owners is focused on bulkers to an increasing extent, BIMCO said. Data from VesselsValue.com reveal that Greek owners were at the buying end of 43% of all bulker sales completed so far in 2014. As of June 2014, the number of Greek bulker purchases so far is 91, compared to 81 for the full year of 2012. The level of activity seen so far in 2014 would suggest Greek owners are on target to top the 199 bulker purchases completed in 2013.

Chief Shipping Analyst at BIMCO, Peter Sand, said, "The interest is much centred on bulkers and has become more and more explicit over the past two years, whereas Greek buying interest in tankers and containerships is flat. The development gives insight into the minds of Greek owners and where they expect to see the biggest opportunities arise – sooner rather than later”.

No Capesizes were reported sold in 2014, and only four where bought. Purchasing interest has been the highest for the smaller ship sizes, with Handysize and Handymax/Supramax ships accounting for two thirds of the 91 purchases done.

The market share of Greek tanker purchases has averaged at 19% in the past 2.5 years. So far this year, Greek owners has bought 39 tankers, only 12 of these built before 2000.

A bit more optimism seems to have surrounded the container shipping segment in 2013, where 54 out of a total 197 deals done for onwards trading ended on Greek hands. In 2014, the tendency is one of less interest with a share of 19% a number on par with 2012.

“On the selling side the same pattern is disclosed as the Greek ship owners sell fewer and fewer bulkers. Greek owners have sold just 14 bulkers in 2014 as compared to 73 in 2013. They are clearly building on an already significant bulker fleet," Sand added.