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Greece

News on Greece.

Greece seeks to lure UK-based shipowners and brokers on Brexit

Greece is looking to attract UK-based shipbrokers, shipowners, and ship-insurance companies to Athens as the UK gears up to leave the EU bloc. The government wants Piraeus to become "one of the world's largest shipping centers and a modern maritime cluster," says Greece's Shipping Minister.

New buyers for massive Greek shipping loans

Royal Bank of Scotland is close to selling a loan portfolio consisting primarily of Greek companies totaling USD 600 million to a series of buyers, reports Reuters. Several investment banks are mentioned as possible buyers.

Greek seafarers extend strikes about tax conditions

Greek seafarers have in recent days blocked ports across the entire country. The strikes will now be prolonged to Friday. The seafarers are protesting a number of hits to their working conditions dictated by the country's creditors.

Cosco completes purchase of Piraeus terminal

The first stage of Chinese Cosco's takeover of Greece's largest port, Piraeus, is now complete. The next phase depends on Cosco's performance over the coming five years, informs the Greek privatization fund.

Fresh strikes will soon hit the Greek ports

Greek port workers will again halt their work in Piraeus and Thessaloniki in order to protest against planned privatizations. The strikes begin Thursday and will run over two days.

Accountant casts doubts on Dryships' survival

Several lenders are now criticizing Greek-based Dryships for defaulting on loans and breaching lending covenants. Negotiations are underway, but Dryships cannot guarantee that the talks will be fruitful.

Greek shipowner buys more vessels from himself

The problems continue to pile up at Dryships, which once again is selling vessels to its own CEO, George Economou. The carrier is also divesting a stake in Ocean Rig, which is likewise owned by the Greek billionaire.

EU puts pressure on Greece in tax dispute

The European Union is waiting for a response from Greece regarding the country's lax taxation on shipping. The two sides are in dialog and the Commission is preparing potential next steps, a spokesperson informs ShippingWatch.

Greek refinery buys Iran's first new crude oil export

An old relationship and an old debt are part of the common history shared between Greek refinery Hellenic Petroleum and Iran's National Iranian Oil Company, which will now resume the collaboration that was discontinued by the sanctions.

Shipowners: Greek tax dispute could spread to EU

The Union of Greek Shipowners fires back after the EU Commission has challenged the country's tax legislation for the shipping industry. This will have major consequences not only for Greece but the entire EU, writes the union.

EU challenges taxation for Greek shipping

The longtime special treatment in Greece for shipowners has now gone too far, according to the EU Commission, which has given the Mediterranean nation a deadline to change its tax legislation.

Greek transport strike hits ports

Port and transport workers in Greece have launched a 24-hour strike, a move that paralyzes all the country's public ports as well as certain oil installations.

At least 42 Greek carriers have left the country

Several countries have courted the Greek shipping cluster over the past few months, and one country in particular has managed to draw Greek shipping companies over to its flag, report various media outlets.

Greek shipping's tax fears resurface

Fears of new tax conditions for the Greek shipping cluster now seem rekindled among the country's big shipowners, reports Seatrade Maritime. Do the big companies know something the smaller ones do not, one industry figure asks.

Small Greek carriers disappear

Historically speaking, the Greek shipping industry has been populated by a number of smaller carriers, but companies have grown in size in recent years, just as fleet renewal has been significant.

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