- Greek Shipowners Prioritise Strategy Over Volume.
- Tankers and Containerships Dominate Greek Orders.
- Tankers Show Stable Fundamentals, Containerships Normalise.
The global newbuilding market has hit a slow down in 2025. In the first four months of the year, only 439 ships were ordered, a four-year low, compared to 980 during the same timeframe in 2024 and 809 in 2023. We’re now back to activity levels seen in 2020, influenced by macroeconomic pressures, stricter regulations, and geopolitical uncertainties, reports Break Wave Advisors.
Greek Owners Focus on Strategy Over Volume
Greek shipowners are making their presence felt, not by sheer numbers, but through a thoughtful and strategic approach. They’re focusing on shipyards that are technically robust and compliant with regulations to manage risks and secure long-term value. Although Greek orders fell from 112 ships to 65 year-on-year, their share of global contracting increased from 11.5% to 15.8%, showcasing their rising influence in a more cautious market.
Concentration in Tankers and Containerships
Greek orders are primarily in tankers (49%) and containerships (43%), with very little activity in bulkers and none in gas carriers. This marks a notable shift from previous years, particularly in the LNG sector, where concerns about oversupply have led investors to become more cautious. The LNG orderbook-to-fleet ratio is now approaching 50%, indicating a market imbalance.
On the other hand, tankers are showing healthier fundamentals, boasting an orderbook-to-fleet ratio of 13.4% and a 24.3% share of global orders—figures that are considered sustainable given the regulatory landscape. Containerships are also finding their footing, with a 12.8% ratio and a 13.6% share, hinting at a return to more sensible ordering practices.
Bulk Carrier Activity Remains Cautious
The bulker segment is still quite subdued, with a 10.4% orderbook-to-fleet ratio and a 22% share of global orders. Many owners are holding off, waiting for clearer market signals before making any investment moves.
Global Comparison: China and Japan
China is currently in the lead with 69 new ship orders, which makes up 15.7% of the global contracting market—an increase from 14.8% last year, even though the total number of units has dipped. Most of these orders are for tankers (52%), followed by containerships (16%) and bulk carriers (13%), but there haven’t been any new orders for gas carriers.
On the other hand, Japan has recorded 23 orders, which gives it a slight boost to 5.2% of the global share. The country is focusing mainly on bulk carriers (39%), tankers (22%), and gas carriers (17.5%), with no new orders for containerships. Japan is continuing to build on its strong shipbuilding reputation and its reliable client base.
Strategic Clarity Amid Uncertainty
Even with the overall market downturn, Greek shipowners are steering through 2025 with a clear strategy and a long-term vision. Instead of just chasing after volume, they’re focusing on resilience and value, ensuring they maintain a solid presence in a more selective and risk-conscious environment.
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: Break Wave Advisors
