The shipbuilding group of George Economou is implementing one of the largest Greek shipbuilding programs.
According to VesselsValue’s data shared with “Naftemporiki,” the value of the group’s order book – the ships under construction – totals 3.18 billion dollars.
The existing fleet is valued at $5.49 billion. Therefore, the total value of the group’s ships is approximately $8.67 billion.
This year alone, the group spent, according to VesselsValue, $619.36 million to build 11 ships. Six of them are bulk carriers (four newcastlemaxes and two kamsarmaxes) and five tankers (three aframaxes and two LR2 tankers). All the ships are being built in China at Cosco’s New Times and Chengxi yards, with deliveries extending through 2026.
Shipping database Equasis reports that the group’s active fleet consists of a total of 128 vessels, of which 59 are dry bulk carriers, 52 are tankers and 17 are liquefied natural gas carriers.
Shipowner George Economou announced recently his decision to return to the US stock market investing in Greek Performance Shipping, owned by the Paleos family.
Economou acquired 1.033 million common shares for $1.48 million, which corresponds to 9.5% based on the company’s 10.91 million common shares. The purchase was made through Sphinx Investment Corp., a subsidiary of Maryport Navigation Corp.
