Greek Ship Owners Seen Purchasing Vessels to Avoid Possible Levy
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Greek ship owners are increasingly seeking to expand their fleets to capitalize on lower vessel prices and avoid the possible imposition of a deposit levy similar to one used in Cyprus, a local shipbroker said.
About five Greek owners told Lion Shipbrokers Ltd. the prospect of a savings tax was one motivation for them to give more consideration to buying ships, Diana Solberg, an analyst in the Piraeus-based company’s research department, said by e-mail today. A five-year-old tanker holding 2 million barrels of oil costs $55 million, down from $160 million in September 2008, according to data from Simpson, Spence & Young Ltd., the world’s second-largest shipbroker.