Greek shipowners strengthened their position in the newbuilding market during the first quarter of 2026, with activity significantly higher than a year earlier, according to data from Xclusiv Shipbrokers.
Market Rebound And Overview
Between January and March, Greek stakeholders secured 102 new vessel contracts, up sharply from 33 in the same period of 2025. Globally, total orders reached 422 vessels, up from 315 a year earlier, indicating a broader recovery in maritime investment.
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Tanker Dominance In Contracting
Growth was largely driven by a renewed focus on tanker vessels. Greek shipowners placed 63 tanker orders, including 24 VLCCs and 23 Suezmaxes, compared to just 13 in the previous year. Across the global market, tanker contracting rose from 79 to 152 vessels. Orders for VLCC and ULCC segments increased from only three units last year to 64, reflecting stronger demand for large-scale crude transport capacity.
Expansion Into Dry Bulk And LNG
Beyond tankers, Greek buyers expanded activity in the dry bulk segment, ordering 16 vessels, including six Capesize and six Newcastlemax ships, following a period of limited engagement.
Nine LNG carrier orders further indicate a strategic shift toward gas transportation, as operators position for evolving energy demand. At the global level, dry bulk contracting also increased, with a clear preference for larger vessels suited for long-haul routes.
Global Trends And Strategic Investments
Containership investment remained relatively stable. Greek owners ordered 13 vessels, mainly in feeder and handy segments, while global container orders reached 159 units. This consistency suggests a more measured approach in container shipping, as operators balance fleet renewal with shifting trade dynamics.
Cyprus-Linked Strategic Expansions
Entities with ties to Cyprus also advanced targeted investments. Mitsui O.S.K. Lines announced a joint venture to build two service operation vessels, while Lemissoler Navigation placed orders in China for methanol dual-fuel Ultramax bulk carriers.
Additional activity from Safe Bulkers and Star Bulk Carriers reflects continued fleet renewal with a focus on efficiency and sustainability. At the same time, companies such as Euroseas expanded into specialized containership segments, while Pelagic Credit pursued diversification through structured vessel investments.
Outlook
Rising order volumes, stronger tanker demand, and broader diversification strategies indicate a clear shift in market dynamics. Activity in early 2026 points to renewed confidence among shipowners, with investment decisions increasingly aligned with long-term trade patterns and operational flexibility.
