By Antonis Tsimplakis

Greece's dominance in the tanker sector is confirmed by Veson Nautical's annual report for 2025, as one in four ships under construction is of Greek interest.

There is also a return of the “Greeks” to LNG carriers, with 18 new orders, taking the top spot in the global ranking for the first time since 2021. As noted, Greek shipowners are once again emerging as a key force, maintaining a leading presence both in fleet size and investment activity across all segments.

At the same time, analysts characterize 2025 as a year of intense contrasts, with geopolitical turmoil, regulatory pressures, and shifting trade flows creating a complex environment for shipowners and investors.

Leadership

The tanker sector was one of the clearest indicators of market fragmentation.

According to Veson Nautical, crude tankers (VLCC, Suezmax, Aframax) demonstrated resilience and rising values, in contrast to product tankers, which were heavily pressured by a sluggish clean products market.

Greek shipowners maintained first place globally in new tanker orders in 2025, accounting for more than a quarter of the total orderbook, confirming their strategy of continued commitment to the sector.

Focusing on modern ships

Despite a decline in overall shipbuilding activity compared with 2024, Greek shipowners remained active, focusing on modern vessels with high environmental standards.

Specifically, as shown by Veson Nautical data, Greece remained in first place in tanker orders, representing approximately 25%–27% of the total tanker orderbook, with 91 orders out of a total of 291.

Greek orders were mainly concentrated in the Aframax and Suezmax segments, with a significant number of dual-fuel or LNG-ready vessels.

At the same time, Greek shipowners were also at the forefront of the second-hand crude tanker market, taking advantage of price volatility and increased demand for tonne-miles.

Greece also ranks second in S&P transactions, with 101 purchases, up from 68 last year, representing an increase of approximately 49% on an annual basis.

Greece’s position in the LNG carrier sector is of particular importance, since despite a difficult year for freight rates and asset values—due to ship oversupply and delays in new LNG projects—it emerged as the most active country in LNG ship purchases in 2025.

Based on the report’s data, shipowners invested in a targeted manner, taking advantage of the correction in asset values, with the aim of long-term positioning in a strategic energy sector.

As reflected in the report, Greek shipowners accounted for approximately 20% of total second-hand transactions in the sector, while in the orderbook Greece ranks at the top with 18 new orders, confirming its long-term strategic positioning in the energy transition.

Strong presence

In the bulk carrier sector, Greece ranks second worldwide in terms of the number of active vessels (2,379), behind China (2,995).

According to Veson Nautical, 2025 was characterized by rising asset values, particularly in the Capesize segment, due to prolonged diversions via the Cape of Good Hope that increased tonne-miles.

However, Greek shipowners adopted a more cautious approach to new orders (175 ships in the Greek orderbook), maintaining a relatively limited orderbook that reflects strategic maturity and adaptation to an environment of heightened uncertainty.

By contrast, the “Greeks” were particularly active in the secondary market, with 168 purchases mainly in Capesize and Kamsarmax vessels, investing countercyclically in anticipation of improving freight markets in the second half of the year.

Second-hand

As for containerships, 2025 was characterized by strong demand in the second-hand market, mainly for small and medium-sized vessels, due to limited supply and stable freight rates.

Although Greece does not rank among the leading countries in new containership orders, Greek companies maintain a notable presence in second-hand transactions, taking advantage of opportunities created by market volatility.

In fact, Greece is among the five most active countries in the second-hand containership market, with 25 vessels.

At the same time, the feeder containership segment acted as a “driver” of Greek investment, as smaller vessels have seen renewed interest in recent years, mainly due to the regional development of commercial networks.

Mixed picture

The LPG carrier sector experienced sharp fluctuations, with very large gas carriers (VLGCs) showing resilience, while medium-sized vessels came under pressure from lower freight rates.

The Greek presence in the sector remains more limited compared with other shipping segments.