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2007 February 1   11:31

Greek shipowners spend US$1b on all types of ships in January

Shipowners worldwide spent a total of about US$2.9 billion buying second-hand ships in January, the biggest investment since October, compared with US$1.6 billion in the same month last year, broker Allied Shipbroking Inc said.
Shipping companies in Greece, the largest ship-operating nation, were the biggest buyers of vessels that carry commodities like coal and iron ore after spending US$921.7 million on 26 such ships, Piraeus, Greece-based Allied Shipbroking said in a weekly report.
Norwegian shipowners were the main buyers this month of second-hand vessels that carry crude and refined-oil after investing US$194.9 million on seven tankers, the report said.
Overall, Greek shipowners spent US$1.05 billion on all types of ships combined, South Korean owners ranked No 2, spending about US$291 million and Norwegian shipowners invested a total of about US$220.5 million.
Among shipping companies that bought second-hand vessels this month was Norway's closely held Champion Tankers. The Bergen-based company bought the 22-year-old oil products tanker Lion, which has a capacity of 44,979 deadweight tons, for US$11 million, Allied said.
Unidentified Greek owners bought the seven-year-old Oceanthi, which can carry cargo of as much as 45,499 deadweight tons, for US$38.5 million. The ship comes with a hire-out contract with China Ocean Shipping Group Co, or Cosco, for an undisclosed period at a daily rate of US$22,275, the report said.
The previous owner of the ship was Greek closely held ship-owner JD Polemis Shipping Corp, according to Lloyd's Register-Fairplay data on Bloomberg.
Spain's Empresa Naviera Elcano SA, a Madrid-based closely-held shipping company, bought four tankers that carry liquefied petroleum gas for an undisclosed sum, Allied said.
The ships belonged to Brazil's Metalnave Comercio e Industrial SA, according to Lloyd's Register-Fairplay data on Bloomberg.

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