The Greek shipping industry has been operating for the last 15 years with the aim of avoiding bankruptcy and maintaining the business potential of the companies, XRTC Business Consulting said in its annual research on the shipping market.
“Over the last fifteen years, Greek shipping has shown signs of introversion, with few attempts to expand its activities, since the essential goal was to avoid bankruptcy and to ensure the operational capability of the companies, in order to maintain the cohesion of the Greek territory as well as the country’s connectivity with the European Union via the Adriatic Sea,” it added.
XRTC underlined that the current situation of the Greek shipping market can in fact be characterized as extremely worrying as over the last years, and especially in the last five years, the accumulated negative economic results do not allow the renewal of the fleet, which is more imperative than ever, but they also limit the survival of companies due to the successive economic, geopolitical, and health upheavals.
Therefore, the research noted both the EBITDA margin and revenue per ticket numbers are declining. For example, the EBITDA margin between 2018 and 2022 fluctuates steadily at 10%.
