Greeks Spotting Rates Rebound Order Most Ore Ships Since 2008
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Greek ship owners, who control more vessels than those of any other country, are buying the most iron-ore carriers since before the global recession, seizing on plunging prices in anticipation of a market recovery.
Shipping companies in the Mediterranean country ordered 12 Capesizes able to hold 160,000 metric tons of cargo each last quarter, the most since the first three months of 2008, according to data from Golden Destiny SA, a Piraeus-based shipbroker. That’s almost twice as many as in all of last year, figures show.