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S h i p p i n g Greek Shipping Today Greece is one of the strongest and most important maritime nations of the world. At a national level, Greek merchant shipping is one of the pillars of the national economy, while at a European level its contribution is crucial, since more than 90% of external trade and 41% of the European Union’s internal trade is transported by sea. Rank Greek shipping today remains in first place internationally, accounting for 15% of total global transport capacity. It also represents about 20% of world transport capacity in the markets of dry and liquid cargo, through which the vast majority of world trade is carried out, and about 41% of total European transport capacity. The Fleet The Greek merchant fleet consists of approximately 3,760 ships totaling 265 million tons DWT and a total tonnage of 156 million tons. These ships are registered under more than 15 flags. The fleet under Greek flag consists of approximately 865 ships. In recent years, there has been a reduction in the number of ships, but an increase in overall capacity. The remainder of Greek-owned fleet totals roughly 2,900 ships and about 113 million gross tonnage. The average age of the fleet has improved significantly and today the Greek fleet is significantly younger than the global average. (About 10 years versus 12 years). Contribution to the National Economy The contribution of merchant shipping to the national economy consists of the individual contributions of oceangoing shipping, coastal shipping and ports. Out of the total contribution, 85% is related to ocean going shipping and the remaining 15% to coastal shipping and ports. The economic impact of shipping on the national economy is estimated at 13.5 billion Euros annually. The contribution of shipping represents about 6% of GDP (as per 2010 data) and, due to the recession, it is estimated that at the end of 2012 it will amount to 7% of GDP. During the last 10 years foreign currency of approximately 140 billion Euros has entered Greece, which in 2010 prices is about 61% of Greece's GDP. Despite the fact that over the last two years foreign currency earnings have been limited due to the weaker state of the shipping market, in recent years its average was higher than 13.6 billion Euros a year, and with an increasing trend. Contribution to Employment It is estimated that approximately 38,000 to 40,000 persons are directly employed in coastal and oceangoing shipping, distributed almost equally between ships and land offices. About 30,000 people are employed indirectly in support services and another 18,000 are employed in other sectors in jobs created in a multiplier fashion by shipping. This means that about 90,000 people are employed in the shipping sector, meaning that a total of approximately 250,000 people, through their respective households, are dependent on shipping. Sources Ministry of Shipping, Maritime Affairs and the Aegean Hellenic Chamber of Shipping 22 AEGEAN NEWS AUTUMN 2012
Aegean Marine Petroleum International Bunkering Conference BΥ Leonardos Stefanou | Bunker Trader, AMP On April 18-20, 2012, the 33 rd International Bunker Conference was held at the Radisson Blu Scandinavia Hotel in Oslo. The event was organized by the BI Norwegian Business School. Aegean was represented in the conference by Tony Vertommen (Managing director of Aegean Northwest Europe), Martin Olesen (Commercial Manager of Aegean Northwest Europe) and Leonardos Stefanou (Bunker Trader of Aegean Marine Petroleum SA). The IBC takes place every year and focuses on the rapid changes within the industry. This year’s theme was: ”Increasing Complexity – How to Adapt.” More than 130 participants from countries throughout the world attended the event. The panel consisted of physical suppliers, traders, brokers, surveyors, lawyers, shipping companies and organizations. Discussions of note centered on the role of the middleman, the new sulphur legislation and pertinent environmental issues. Topics such as the global economic crisis, credit risk and strong competition were also analyzed in depth. Tony Vertommen, as a member of the panel this year, focused on the difficulties rising from the contradictory business relationship between supplier, trader and owner. In particular, he described the advantages and disadvantages of being a physical supplier, taking into consideration factors affecting day-to-day business procedures such as payment terms, operational constraints, communication and ethics. The Aegean presence at IBC demonstrates the company’s belief that such meetings provide a good opportunity to the “players” of the industry to update knowledge and enhance expertise among shipping community professionals. AUTUMN 2012 AEGEAN NEWS 23
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Page 6 and 7: A e g e a n U p d a t e Pavlos Ioan
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Page 10 and 11: F l o w s a n d C u r r e n t s ABU
Page 12 and 13: S h i p p i n g Aegean Newbuilding
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Page 22 and 23: S h i p p i n g Τhe Fleet of Aegea
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