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Wednesday, November 14, 2018


The Greek owners and operators have been among the clear leaders in tanker ownership as they grasp the opportunity to upgrade and modernise their fleets at a time of strong freight markets and realistic newbuilding prices.

The fleet controlled by the Greek tanker owners has increased by over 50% since 1994, while over the same period the total world tanker and combined carrier fleet has increased by just 9%. The Greek controlled tanker fleet (all types of tankers) is the biggest in the world, being some 27 m dwt bigger than the Japanese fleet (including orders) and some 51 m dwt bigger than the U.S. fleet.

As of mid-2004, Greek tanker owners controlled 777 tankers and combined carriers (above 10,000 dwt) totalling 73.8 million dwt. This is close to 23% of the world tanker and combined carrier fleet by deadweight – and since most Greek owners are independent tanker owners they control nearly 28% of the world’s independently-owned tanker fleet.

The Greek tanker newbuilding orderbook is also the biggest in the world, almost twice as big (1.8 times) as the Japanese in deadweight terms and more than twice (2.2 times) as big as the Japanese in number terms, and more than 3.5 times as big as the Danish orderbook (in third place).

Another medal goes to Greece for its superb staging of the Olympic Games. From the dramatic opening ceremony with its swirling representation of the global nature of international sport, to faultless presentation of pool, track and water events, the end result confounded those who were so certain that the Games would be chaotic, and was a tribute to what this resourceful nation can achieve with careful planning – and a bit of time pressure at the end.

The fact that the organiser of the Games is the wife of a prominent Greek tanker operator may be taken as the tenuous link between the two parts of this article. Beijing has a lot to live up to if it is to put on an Olympic Games in 2008 which not only impresses, excites and exhilarates the spectators as much as the 2004 games, but which also boosts the host nation’s image in a similar way through its sheer professionalism and flair.

Is there something that the tanker industry can learn here on the image front? And what will the Chinese-owned tanker fleet be looking like by 2008?

Contact: Bill Box