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Hellas Consolidation of Shipping Companies Continues Says Latest Petrofin Research

The consolidation of Greek shipping companies continues unabated with 41 fewer companies or 6.43% less in 2017. This has to be evaluated in conjunction with the rapid expansion of the fleet and the number of new entrants amounting to 11 companies. It becomes evident that the picture of Greek shipping that emerges shows an extensive internal reshuffle. Hardly any company remained unchanged in terms of tonnage.

To facilitate the analysis, please note that Greek companies are divided into the following fleet SIZE groups: Group A (25+ vessels fleets), Group B (16-24 vessels fleets), Group C (9-15 vessels fleets), Group D (5-8 vessels fleets), Group E (3-4 vessels fleets), Group F (1-2 vessels fleets).

The 16 to 24 vessel segment remains unchanged (26). As this is not a static segment, the growth of the 25+ vessel group (from 46 to 50) shows that some 16-24 vessel fleets moved upwards and so did some 9-15 vessel fleets (from 63 to 60). b. On the other end of the spectrum, the 1-2 vessel group of companies is down substantially by 32 companies (from 265 to 233).

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