Greek Shipowners Post Record $10 Billion Newbuild Spree in Q1 2026

VLCC tanker newbuild in dry dock
Greek owners ordered 102 new vessels worth $10.1 billion in Q1 2026, a 3.6-fold jump, led by a record tanker and gas-carrier newbuild wave.

Greek shipowners ordered 102 new vessels worth roughly $10.1 billion in the first quarter of 2026 — a 3.6-fold jump over the 28 ships ordered in the same period last year — reasserting Greece’s position as the dominant force in global shipowning. Tankers led the charge, with 63 vessels commissioned for about $6 billion, including 24 VLCCs, up from just two a year earlier, and 23 of the 41 Suezmax orders placed worldwide.

The gas sector logged its strongest quarter on record, with 11 orders worth roughly $2.4 billion, while dry bulk owners placed 16 orders worth $1.05 billion, three-quarters of them for Capesize and Newcastlemax tonnage. The Union of Greek Shipowners’ latest annual report puts the Greek-owned fleet at 5,798 vessels and 458 million dwt — 19.1% of the world fleet — as owners rush to renew an ageing fleet and capitalize on strong freight-market expectations.

Source: GreekReporter — https://greekreporter.com/2026/04/15/greek-shipowners-lead-new-shipbuilding-wave-2026/

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