Sample Essay
The investment by the Greeks in the shipping industry and the dry bulk market is also gong to have a significant impact in the 2010 dry bulk market. “Greece controls by far the biggest share of the world’s merchant fleet by tonnage, specialising in oil tankers and carriers that transport bulk commodities.
Greek shipping fortunes are based on buying ships cheaply and selling them dear. The Greeks, who traditionally trade only second-hand ships, have placed orders for new vessels, taking them into new risk territory. The most dramatic growth has been in shipping futures, which allow shipping companies to lay off risks.” (‘On the crest of a wave’, 2004). This increased investment in going to lead to increased competition amongst the shipping companies, improving the standard of operations in the dry bulk market as well as contributing to the economic activity.
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