Chapter 2 A Fleet for the 21st Century: Modern Greek Shipping

Just before the millennium, prospects for Greek-owned shipping looked grim for the first time after many years of almost uninterrupted - and always impressive - expansion. The age of Greek-owned ships coupled with its heavy specialisation in ship types that found themselves in a sea of regulatory changes seemed as a combination of challenges that Greek shipping would not be able to handle this time. Yet, the legendary flexibility and market "feel" of the Greek-shipping community led to the Greek-owned fleet not only transiting successfully into the 21st century at the leading position in world shipping hierarchy, but also building solidly on its existing strengths while venturing into new areas. This chapter reviews this course focusing on changes in the specialisation and age of the Greek-owned fleet.