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Capital control keeps Greek ships trapped in ports

Up to one fifth of the Greek fleet could be stuck in ports right now, as the Greek government's introduction of capital control prevents small shipowners from buying fuel for the ships.

Photo: /ritzau/Thomas Borberg

The decision from the Greek government to implement capital control in the country now seems to be directly hitting the Greek fleet. The capital control, which entails the closing of banks and control of cash in the country, has been implemented while Greece is in the midst of negotiations with EU leaders for a new economic rescue plan.

The capital control makes it virtually impossible for Greek companies to trade outside of the country, and for Greek shipowners this means problems with paying for fuel and other necessities for their vessels, writes The Telegraph.

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