Greek shipowners are the beneficiaries of the gas crisis

Athens The gas crisis is forcing Europe to reconsider its dependence on Russia. The state-owned company Gazprom already reduced its deliveries in January. If there is a Russian invasion of Ukraine, there is a risk of a supply shortage. Liquefied natural gas (LNG) can help secure Europe’s gas supply.

This is good news for Greek shipowners. You have invested heavily in the construction of LNG tankers in recent years and today you control the world’s most modern fleet of these special ships.

According to London-based Vessels Value database, Greece had $19.11 billion worth of LNG tankers at the end of 2021. This puts the Greek shipowners at the top worldwide, followed by Japan with 18.1 billion and China with 10.5 billion dollars. So far, German shipowners have almost completely ignored the trend: the value of their LNG tanker fleet is only 440 million dollars.