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Greek Shipping Dominates Global Merchant Fleet With Strategic Growth and Innovation

by THEFUTURE.TEAM

August 26, 2025

Greek Shipping: A Dominant Global Force

Greek shipowners command an impressive 21 percent of the world’s merchant fleet, boasting 5,520 vessels that secure their position as the foremost maritime power. Over the past decade, fleet capacity has surged by 50 percent, reflecting both resilience and a strategic adaptation to evolving global trade patterns.

Significant Market Share Across Multiple Segments

The strategic breadth of Greek shipping is evident in its impressive market shares: 31.27 percent of the global oil tanker fleet, 25.32 percent of bulk carriers, and 22.65 percent of the liquefied natural gas fleet. Moreover, Greek-owned vessels represent 15.79 percent of the chemical and petroleum product fleet, 11.46 percent of LPG carriers, and 8.92 percent of container ships. With more than 98 percent of their transport capacity deployed on routes connecting third countries, Greek operators play a pivotal role in the global supply chain.

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Fleet Renewal and Environmental Commitment

Investment in fleet renewal is gathering unmatched momentum. With new ship orders reaching 241 in 2023—a 40 percent increase from the previous year—the industry is increasingly focused on enhancing environmental performance. This shift is in direct response to tightening international regulations and a broader move towards sustainable operations. Additionally, the average size of Greek-owned vessels stands at 81,395 deadweight tonnes, nearly double the global average, enabling significant economies of scale and competitive long-haul transport costs. Notably, the Greek fleet is among the youngest worldwide, with an average age of around 10 years compared to the global average of 11.

Complementary Roles: Cyprus and the Global Maritime Network

While Greece maintains its lead in tonnage, Cyprus complements this success by emerging as one of Europe’s leading maritime management centers. Deputy Shipping Minister Marina Hadjimanolis has stressed the strategic importance of expanding the Cypriot registry, highlighted by an 18 percent increase in gross tonnage over the past 16 months and a 15 percent rise in companies opting for the tonnage tax regime. Cyprus’s commitment to digital innovation and greener operations is further underscored by ongoing efforts to digitalize shipping services, with new offerings expected by May 2025.

Global Value in Challenging Times

On the international stage, the real value of the Cypriot flag becomes particularly evident during periods of global uncertainty. Cypriot maritime authorities provide robust support through overseas offices and active engagement, contributing nearly 7 percent to the nation’s GDP. This synergy between Greek strength and Cypriot innovation underscores a broader narrative of leadership and strategic adaptation in the maritime sector.

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Cyprus President Champions Domestic Defence Industry For National Security And Economic Growth

by THEFUTURE.TEAM

February 18, 2026

Government Commitment To Strengthen National Defence

The President of the Republic, Nikos Christodoulidis, reaffirmed the government’s intention to enhance the country’s deterrence capabilities while expanding the potential of the domestic defense industry. Speaking during a high-level meeting at the Presidential Palace with members of the Cyprus Defence Industry Council, he outlined a strategy that connects national security priorities with long-term economic development.

Performance Assessment And Strategic Objectives

In the presence of Defence Minister Vasilis Palmas, the meeting focused on evaluating the achievements of the council one year following its establishment and delineating the path ahead. The President recalled, “Last year, we decided to institutionalize the Cyprus Defence Industry Council. Today, we review our targets and assess what has been achieved and what remains pending. We discussed the need for a registry of Cypriot companies. It is crucial to amplify the international presence of our enterprises. I remain deeply confident in your capabilities,” emphasizing a performance-driven approach aimed at enhanced operational transparency and market expansion.

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Positioning The Industry As A New Economic Pillar

President Christodoulidis expressed his firm belief that the Cypriot defence industry could emerge as a significant economic driver. He described it as a “promising new pillar” for the nation’s economy, bolstered by European initiatives such as the SAFE framework, supplementary equipment procurement plans from third countries, and participation in international trade exhibitions. Such strategies, he noted, open up further opportunities for local businesses to integrate into the global arms market.

International Outreach And Future Economic Impact

The President also pledged active support at an international level, citing his positive response to an invitation to Athens to engage in initiatives aimed at enhanced exposure and collaboration. He was confident that the industry’s contribution could realistically reach a double-digit share of Cyprus’ GDP in the coming years, a target he described as not only ambitious but entirely attainable given current capabilities.

Clear Vision For Measurable Progress

Concluding the meeting, President Christodoulidis reaffirmed his commitment: “I am fully aware of your potential. This is an emerging sector critical to both our economic future and our national security. Today, I expect us to review our concrete achievements, address the areas requiring improvement, and steer this initiative toward even greater success.” This decisive call for accountability and action underscores a broader strategic agenda that intertwines national defence imperatives with forward-looking industrial and economic policies.