Number of shipping companies sinking

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The downward trend successful the fig of Greek shipping companies – that began successful 2009 with the planetary fiscal situation – persists, contempt the continuous maturation of the Greek-owned fleet successful some capableness and the fig of ships.

Although a ample fig of shipping companies that closed successful the archetypal play aft 2009 are linked to the illness of the freight marketplace astatine that time, the astir caller decreases are attributed to marketplace attraction trends done mergers and acquisitions. This data, collected by Petrofin Research, a institution specializing successful the monitoring and investigation of shipping figures, shows that from 773 successful 2009 Greek shipping companies numbered 588 successful 2024. This is simply a alteration of 185 companies, a fig that corresponds connected mean to 1 closure each period since 2009. 

In reality, the fig of companies that exited the marketplace whitethorn beryllium adjacent higher, arsenic different very ample Greek shipping companies person created smaller subsidiaries successful caller years, usually specialized successful 1 sector.

Are there Greek companies that simply migrate overseas to debar the progressively analyzable European regulatory environment? According to the caput of Petrofin Research, yes, they bash exist, but they are not the norm. In particular, there are shipping companies of Greek interests that are present operating from the Persian Gulf, where some the regulatory and tax regimes are intelligibly much favorable. However, the ascendant crushed for the simplification successful the fig of Greek shipping companies – and particularly astatine a clip when their fleet continues to turn successful terms of tonnage – is the process of attraction successful the sector.

According to Petrofin Research, the Greek fleet astatine the extremity of 2024 accrued by 2.9% connected an yearly ground successful dwt terms, bringing the total to 488.6 cardinal dwt. In implicit numbers, the fleet accrued by 214 ships of each types and sizes compared to 85 ships successful 2023 and 286 successful 2022. However, the fig of Greek companies decreased to 588 successful 2024, from 592 successful 2023, 599 successful '22 and 607 successful 2021.

“The diminution of companies with 1 oregon two ships continues,” and “the main crushed is that this fleet size is considered unsustainable successful the agelong term owed to economical disadvantages of standard and accrued regulations, which necessitate larger companies with much personnel,” Petrofin Research states successful its study.