Greek Shipowners Lead Global Orders for New Tankers

Greek shipowners expanded their order book for new ships yet again, having ordered a total of 606 new commercial vessels, mostly tankers, by the end of April, according to Xclusiv Shipbrokers.

The Greek order book includes the entire spectrum of commercial vessel categories, with tankers still taking up the lion’s share, followed by bulk carriers, container ships, and gas carriers. Orders have remained stable at over 600 ships in recent years.

Xclusiv Shipbrokers data shows that the global order book amounts to 4,008 ships in all vessel categories, almost double the amount from the corresponding period of 2022.

Greece is leading the tanker market. Of the 1,189 tankers currently under construction, 292 or 25 percent belong to companies with Greek interests. The majority of the tanker fleet is 16 to 20 years old (29 percent), while 20 percent is 6 to 10 years old, 19 percent 11 to 15 years old, 14 percent 0 to 5 years old, and 13 percent 21 years or older.

Moreover, Greek shipowners have ordered 13 percent of all bulkers under construction (167 vessels with 37 signed after January 1, 2025), six percent of container ships (50), 14 percent of LNG carriers, and 16 percent of LPG carriers (97 ships while the global order book amounts to 653).

New record for Greek-owned ships as Greece leads in number of new global tanker orders

A new record was set in March in terms of the number of ships, amounting to 4,221 vessels, owned by Greek companies, thereby confirming the global leadership of the Greek-owned fleet.

The annual survey, conducted on behalf of the Greek Shipping Cooperation Committee in London by S&P Global Market Intelligence, involved ships over 1,000 gt (gross tonnage, which is a nonlinear measure of a ship’s overall internal volume). According to the survey, in March 2025, the Greek-owned fleet numbered a record 4,221 ships of various categories, up from 4,212 in 2024. This represents an increase of nine ships, without including another 426 vessels of various categories ordered from shipyards.

However, in terms of capacity, the Greek-owned fleet saw a decrease of 1.11 million dwt (deadweight tonnage, that refers to the maximum weight a ship can carry when fully loaded), with a total capacity of 354,092,466 dwt (208,010,850 gt).

The number of ships owned by Greek companies and registered under the Greek flag has also slightly decreased by 16 ships and now comprises 480 vessels. The Greek-controlled fleet is registered under 29 flags, while the Greek flag appears to be losing strength at a time when Greek shipowners are enhancing their presence in European registries.

In particular, the total number of ships registered under EU flags amounts to 1,414 or 33.5 percent of the total fleet. Portugal gained a record of 62 vessels while Malta and Cyprus gained 51 and 19 ships, respectively.

The data, according to the survey, reflects a need for decreased bureaucracy and greater flexibility in relation to the Greek flag.

Source: https://greekreporter.com/2025/05/05/greek-shipowners-lead-global-orders-new-tankers/