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Greece's Shipping Sector Grows Larger and Younger

Greek shipowners placed orders for 91 new ships worth 9.4 billion USD and bought 98 used ships of all kinds, worth 3 billion USD, in the first seven months of 2011 as daily Kathimerini reports.
They currently have 654 ships under construction (310 in Korea, 298 in China, 22 in Japan and the rest elsewhere), totaling a capacity of 63.2 million deadweight tons.
Chinese shipowners, by contrast, invested a total of only 2.4 billion USD in the same period, according to a survey by Clarksons.
The Greek-owned fleet in June numbered 4,714 vessels, from 4,655 a year earlier.
Of these, only 2,046 were Greek-flagged (compared to 2,126 in June 2010), comprising 567 cargo vessels, 544 tankers, 705 ferry boats and 230 ships of various other categories.
Greek-managed shipping companies with vessels up to nine years old rose to 151 in 2011, from 30 in 1998.

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