Greek ship owners ordered 164 vessels in 2023

While the Christmas and New Year period typically signals a holiday for many, there was no such rest in the newbuilds market as we begin 2024 with a very healthy list of orders, totaling roughly 50 firm orders over the past few weeks if one includes the exercise of previously held option.

COSCO led the way with their contracting of 2 VLOCs, backed by TC to Vale, 3 Aframaxes, 2 LR1s, and 1 MR tanker, all set for construction across two COSCO Shipping Heavy Industry yards. The vessels will all be either Methanol DF or Methanol ready and demonstrate the confidence in such fuels playing a role in a lower carbon future that was evidenced by contracting throughout 2023. Union Maritime has also been active recently, with two completely new deals coming to light in the form of 2 LR2 vessels contracted at CHI and 2 stainless-steel chemical tankers from Fukuoka Shipbuilding, which come in addition to the declaration of options for 2 chemical tankers at Wuhu Shipyard and 1 at Fujian Mawei.

For the whole of 2023, however, Greek shipping interests ordered the construction of 164 vessels, double the figure of 2022 (81 orders). Greek ship owners surpassed Japanese ship (144 orders), while Singapore and China came third and fourth in the ranking, with 110 and 92 orders, respectively. A total of 2,420 orders were placed in 2023, worldwide. Greek ship owners ordered 87 tankers, 57 bulk carriers and 14 gas carriers, while the Japanese signed contracts for 39 tankers, 37 trucks, and 25 gas carriers.

Τhe leading role of Greek shipping on a global level is not something new. “Following the Nereids” presents a rounded approach to Greek maritime history, covering a wide range of themes from the sixteenth to the twentieth century. On the other hand, “Winning Shipping Strategies” develops a comprehensive framework of winning shipping strategies through the application of established Strategic Management theory to the analysis of the shipping industry, while taking into consideration the many specificities of this hypercompetitive, cyclical, global sector. Empirical evidence is drawn from case studies of leading firms from the thriving Greek shipping community.