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Greek Merchant Fleet Gains Despite Crisis

The Greek-managed merchant fleet has retained its strength and competitiveness this year, increasing its capacity in spite of the ongoing global financial crisis, reports showed. The capacity of the Greek-owned fleet expanded by 3% to 263,635,420 deadweight tons (dwt), against...

Shipowners Say They'll Leave Greece if They're Taxed

ATHENS – Greek shipowners, who pay no taxes to the state but claim to have brought in $175 billion in untaxed earnings over the last 10 years, have threatened to relocate their businesses and abandon their home country if...

Greek Banks Could Nix Loans to Ship Owners

ATHENS – Greece’s shipping industry, which pays no income taxes to its homeland, may find it difficult to get more financing from Greek banks because of the economic crisis that has created a deep recession and has threatened to...