gRec owners placed more than $10 billion worth of newbuild orders during the first quarter of the year, with interest in all major shipping markets. In its latest weekly report, shipbroking firm In it, but the breadth of the commitment – which includes large crude oil, liquefied natural gas, dry bulk, and smaller containers – reflects a strategic repositioning by Greek officials at a pace and scale not seen in recent sessions.
Source: Exclusive
According to $5.1 billion In the first quarter of 2025, Greek owners placed only two VLCC orders and nine Suezmax in total. This acceleration reflects the structural reassessment now underway in long-term crude oil: route elongation, fleet fragmentation due to sanctions, and the ongoing geopolitical premium, pushed owners to secure yard capacity while slots remain available. Total Greek tanker orders rose to 381 ships at the end of the first quarter of 2025 2026, up from 310 in the fourth quarter of 2025 and 286 a year ago — a trajectory that underscores how quickly the ownership base around big crude is reshaping.
“The dry bulk sector tells a complementary story of deliberate migration on a large scale,” the shipbroker added. “Sixteen orders placed in Q1 2026 worth around $1.05 billion may seem measured in terms of volume, but the composition is purposeful. Six orders from Capesize and six from Newcastlemax account for 75% of dry bulk units in the quarter, while Handysize activity records zero for the third consecutive quarter. Greek owners are clearly gravitating towards the higher end Profiting across the volume spectrum, consistent with the earnings premium achieved by Capesize and Newcastlemax vessels over recent shipping cycles, total Greek dry bulk orders have recovered to 185 ships, up from a low of 150 ships in 3Q25.
Source: Exclusive
Meanwhile, “gas continues its structural expansion within the Greek order book. Eleven orders placed in the first quarter of 2026 – nine in the large 141,000-200,000 m3 LNG range and two smaller units – carried a combined value of approximately $2.4 billion, the most capital-intensive gas quarter in this data set by a wide margin. Greek gas orders now total 104 vessels, reflecting a decisive pivot towards natural gas exposure.” “Liquefied on a large scale, which would have seemed unlikely two years ago.” Exclusive noted.
“Container demand remained deliberately measured and tight. Twelve orders, entirely in feeder and useful volumes with a combined value of around $578 million, brought the Greek container order book to 168 vessels – its highest level in the series – yet the complete absence of Neo-Panamax and VLCV activity indicates a clear preference for liquidity and choice over broad sector concentration,” the shipbroker said.
“Taken together, the first quarter of 2026 represents a critical inflection point: the capital deployed by Greek owners is unprecedented in scale, is largely directed at larger ships, and is concentrated in sectors where shipping economics and geopolitical tailwinds appear structurally more durable,” Exclusive concluded.
Nikos Rousanoglou, Global Hellenic Shipping News
