The Economy of Greece
Shipping: A Global Fleet
Greek owners control one of the world's largest merchant fleets, though most ships are registered abroad and pay little tax at home.
Greece’s quiet global industry.
Scale
Greek-owned ships make up a large share of global tonnage.
Flags
Many are registered under flags of convenience in other countries.
Local benefits
Shipping supports finance, insurance and jobs in Piraeus and Athens, but taxes are low.
Resilience
Shipping earns foreign currency and is less dependent on the domestic economy.
A tanker owner
A Greek family firm owns tankers that carry oil around the world.
Assuming ships flying foreign flags are foreign-owned
Ownership can be Greek.
Key takeaways
- Greek owners have a huge fleet.
- Ships often fly other flags.
- Taxes are low.
- Shipping earns foreign currency.
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