Greece-based ship-owners have lived up to their reputations as being amongst the most active buyers, spending a rough amount of $7 billion on asset purchases in 2014. The Greek Fleet has increased by 134 vessels in the last year, breaking the 300 million tonnage threshold. Besides this, the average age of the Greek Fleet has been reduced further to a comfortable 13.25 years old.

It is evident that the Greek's main focus between 2013 and 2014 has been the acquisition of bulk carriers, where almost 45% of the second-hand budget has been expended. Despite the current difficulties that Greece faces, its shipping sector is growing in strength, both in terms of assets, as well as community; success breeds success.

Check below the Infographic designed by UMAR/WSR based on Petrofin statistics