Greek shipowners are second to none in the area of second-hand ship purchases, leaving their Chinese competitors behind in the race, with 2021 proving to be the best yet in recent times in terms of total sums paid out for second-hand ship purchases.

According to Allied Shipping Research, as of November 7, Greeks have withdrawn $ 5.69 billion from their coffers, a percentage of 20.9% of the total funds allocated worldwide (26.7 billion) for the acquisition of 319 ships, 19% of the total number of ships that have changed hands (1,678).

62.6% of the ships bought by the Greeks are cargo for which they paid 60% of the total funds they have spent for this type of ship.

More specifically, of the 319 ships, 200 are $ 3.4 billion worth of cargo, 81 are $ 1.5 million tankers, 28 are container vessels worth $ 226.5 million, and four are LPG worth $ 160 million while the rest are of other categories.

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As of the first week of November, a total of $ 26.7 billion has been allocated for the purchase of a total of 1,678 ships of various types, an increase of 62.8% compared to 2020 when the funds amounted to 16.4 billion for 1,179 ships.

In 2019, 18.5 billion were given for 1,395 ships, in 2018 18.8 billion for 1,414 ships, in 2017 20.4 billion for 1,584 ships and in 2016 14.8 billion for 1,228 ships.

The Chinese have bought 299 ships worth a total of $ 4.1 billion, surpassing the Greeks in terms of cargo ships.

Of these 299 ships, 213 are cargoes worth $ 2.9 billion, 56 tankers worth $ 907.7 million and five container ships for $ 33.2 million, and three LPG carriers worth $ 255.1 million.