Page 61: of Maritime Reporter Magazine (May 2016)

BY JOSEPH FONSECA reece is considered to traders. Friendly and stable legislation chipelago, Greece has all the settings for be the world’s ? rst ship- would have helped expand the clusters becoming the recreational and boating

Greece By The Numbers owning country in terms attracting more companies. This could playground of the European Union at- of tonnage. The Greeks have created more high paid jobs and tracting people from all over the world are known to control greater revenues who enjoy yachting. The Greek Archi-

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Population: 10,775,643 (July 2015 est.) 17.7% of world ? eet and gaining share pelago has about 16,000 km of coast- except in crude tankers. Even recession Ports line, 1,200 islands and 4,800 islets and

Waterways: in the dry bulk market has not had much Greece is a mountainous peninsula is probably the world’s best cruising 6 km (the 6-km-long Corinth Canal effect on the Greek-owned ? eet with the strategically located on the eastern side ground. crosses the Isthmus of Corinth; it short- ? eet size touching 5,226 vessels last year of the Mediterranean Sea. The country is The country hosts only about 17,700 ens a sea voyage by 325 km) (2012) with a total DWT of 334 million. surrounded by sea from three sides. The pleasure boats of all types and ? ags. This

For debt-laden Greece, shipping – a northern side borders with other Balkan number includes about 4,000 yachts for

Country comparison to the world: 106 key element of Greek economic activ- countries. Due to the many islands, in the charter of which about 500 are manned. ity since ancient times – is considered Aegean and the Ionian Seas, the country But, yachting has been responsible for a knight in shining armor at this crucial has the longest coastline in Europe and creating only about 40,000 direct and

Merchant marine: juncture. Most Greek shipping compa- the ? fth longest coastline in the world. indirect jobs.

Total: 860 nies are family owned businesses which About 85% of the country’s 11 million

By type: have been in shipping for many decades, population lives mostly within 30 miles Shipbuilding and Ship Repairs

Bulk carrier 262 even over a hundred years. Today, ship- of the sea, of which 4 million live in Ath- Shipbuilding activity today is very

Cargo 49 ping is the second largest contributor ens, the country’s capital. limited. Only small commercial units

Carrier 1 to the national economy after tourism Although a small nation of 11 million, for local shipping are being built. Most

Chemical tanker 68 accounting for 6.5% of GDP, and em- it has over 80 ports that play a major part shipbuilding is now being outsourced

Container 35 ploying about 290,000 people (7% of in helping the trade of the country. 19 of to shipyards in China, Korea and Tur-

Lique? ed gas 13 the workforce). Earnings from shipping these are considered busiest maritime key, where labor costs are much lower

Passenger 7 amounted €35.4 billion in 2014. ports for passenger transport and 21 for and are minimally regulated. Only small

Passenger/cargo 109

Petroleum tanker 302

The Greek ? eet ? ies a variety of cargo traf? c. Piraeus is the main port in commercial units of local shipping are

RoRo 14 ? ags, however some Greek shipowners Athens and the largest port in Greece. being built. Cargo ships cannot be built gradually returned to Greece following Privatization has been a key part of economically in Greece. Thus, Greece is changes to the legislative framework government efforts to develop its state left with just four to ? ve shipyards and Foreign-owned: 42 (Belgium 17, Bermuda 3, Cyprus 3, governing their operations and the im- assets and raise money to cut Greece’s extensive repair facilities that can be

Italy 5, UK 6, US 8) provement of infrastructure. A European mountainous debt. The government has considered operational.

Community Shipowners’ Association been targeting 1.4 billion euros from Many bigger units were established by (ECSA) report for 2013–2014 reveals privatizations for last year and 3.7 bil- Greek shipowners: Hellenic Shipyards

Reg. in other countries: 2,459 that the Greek Flag is the ? rst-most- lion for 2016. Privatization of Piraeus by Niarchos in 1956 had built 55 cargo (Antigua and Barbuda 4, Bahamas used internationally for shipping, while port is still underway and some of the ships until its sale to the State in 1985. 225, Barbados 14, Belize 2, Bermuda it ranks ? rst in the European Union the other 12 prominent ports are also like- Eleusis Shipyards by Andreadis in the 8, Brazil 1, Cabo Verde 1, Cambodia same ECSA report showed that there are ly to follow suit. The government also mid ‘60s which built ? ve cargo ships got 2, Cayman Islands 9, Comoros 4, approximately 950 Greek shipping com- foresees major macroeconomic bene? ts nationalized in 1975. Neorion Shipyards

Curacao 1, Cyprus 201, Dominica 4, panies in operation. to be derived from the privatization of by N. J. Goulandris in 1970 got sold in

Egypt 8, Gibraltar 8, Honduras 4, Hong

Greek shipping families are notable Piraeus port, adding to the GDP and cre- 1978. Chalkis Shipyards by J.C. Carras

Kong 27, Indonesia 1, Isle of Man 62, for their great wealth and in? uence in ating new jobs. in early ‘70s which modi? ed two ships

Italy 7, Jamaica 3, Liberia 505, Malta the industry such as the Vardinoyannis, into cruise ships and was sold in the ‘80s. 469, Marshall Islands 408, Mexico 2,

Latsis, Livanos, Niarchos, Angelopou- Tourism The Salamis Repair Base by Chandris in

Moldova 1, Panama 379, Philippines los and Goulandris. Being tradition- The strategic location and the extensive the ‘60s is known to have modi? ed 85 5, Portugal 2, Saint Kitts and Nevis 2, ally into shipping helped the Greek-run coastline has helped to generate a strong ships into cruise ships.

Saint Vincent and the Grenadines 42, ? eets to re-establish themselves under in? uence on Greece’s tourism industry. Greek technicians and craftsmen are

Sao Tome and Principe 1, Saudi Arabia their national ? ag after the World War ll. Once a pioneer in cruises it commanded considered world class. After World War 4, Singapore 22, UAE 3, Uruguay 1,

The changing dynamics saw them more the largest cruise ? eet in the Mediterra- II they modi? ed over 200 cargo ships

Vanuatu 3, Venezuela 4, unknown 10) closely aligned to their own national nean way back in the ‘70s. and tankers into ferry boats and cruise (2010) state, and the establishment of a Greek Greek cruise ships sailed the Caribbe- ships. Now, Greek repair facilities are

World Rank: 12

Merchant Marine service. an, Alaska, the Baltic and other places. underutilized by the commercial ? eet

Even though today there are about 720 Today, there are no Greek cruise ships, for lack of competitiveness, despite a ship management and service of? ces, mainly due to Greek “protective” legis- good, dry climate and a central position

Ports and terminals: the presence in Greece of major interna- lation. From 2012 Greek law is compat- in the Mediterranean shipping lanes.

Major seaports: Aspropyrgos, Pachi, tional service providers, foreign banks, ible with European legislation. However, Having Greek technicians with technical

Piraeus, Thessaloniki

P & I Clubs, lawyers, brokers, Classi? - because of its history, rich cultural heri- knowhow which is second to none the

Oil terminal(s): Agioi Theodoroi

LNG terminals (import): Revithoussa cation Societies is limited to relatively tage and the unique Greek islands, the industry is hoping for structural reforms small of? ces. As a shipping center there country is a prime tourist destination. to take place so as to become competi- (Source: https://www.cia.gov) is a limited in scope. One does not see tive. Once the economic paralysis ends a strong presence of insurance organiza- Yachting Greece’s maritime sector in general and tions, ? nance companies, charterers and Because of its location and unique ar- shipping in particular is set to ? ourish. www.marinelink.com 61

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