This is the last of this week’s three posts on business. Ambrose Evans-Pritchard’s interesting article – World shipping crisis threatens German dominance as Greeks win long game, in the Daily Telegraph is widely referenced this week.
He writes that the Greek shipping industry has played a long game, and is the winner in the current crisis of world shipping. This should be no surprise to those who can recall Greek shipping magnates, Aristotle Onassis and Stavros Niarchos. More recently Stelios Haji-Iaonnou, of EasyJet fame, created a successful shipping business. So, specialisation in shipping continues to pay off for Greece.
Ambrose Evans-Pritchard’s writes,
“The Greek group Costamare has spent $1.2bn (£764m) since early 2011 expanding its fleet. Last month it bought the Stadt Lubeck from an insolvent German group for $11.3m.”
That’s a lot of SHIP for $11.3m.