GREEK shipowners signed contracts for 73 new vessels in the first half of 2025 - a sharp 58 per cent decrease from the 176 ships ordered during the same period last year, reports London's Riviera Maritime Media
GREEK shipowners signed contracts for 73 new vessels in the first half of 2025 - a sharp 58 per cent decrease from the 176 ships ordered during the same period last year, reports London's Riviera Maritime Media. Containerships were the top choice for Greek owners, with 33 orders placed in H1 2025 - up from 17 last year. Notably, this was the only segment to register year-on-year growth globally, with 201 orders worldwide compared with 170 in H1 2024.
This downward trend is reflected globally, with total orders falling from 1,169 in H1 2024 to 423 in 2025, a 63 per cent drop, said Xclusiv Shipbrokers research analyst Eirini Diamantara.
South Korean shipbuilders remain the preferred choice for Greek owners, a trend partly driven by market uncertainty stemming from a proposed US port fees.
South Korea now accounts for nearly 65 per cent of Greek orders, while China's share has declined to 30 per cent, and Japan holds six per cent.
The shift is particularly stark across vessel segments. In the tanker sector, South Korea commands a 72 per cent share of Greek orders this year, up from just 16 per cent in 2024. China, by contrast, has fallen to 28 per cent from 78 per cent.
In container vessels, South Korea rose from zero per cent to 61 per cent, while China's share plummeted from 100 per cent to 39 per cent.
The bulk carrier segment tells a similar story. Japan has emerged as the dominant supplier, securing 100 per cent of Greek orders in H1 2025 - up from 23 per cent last year - while China, which held a 77 per cent share in 2024, has been entirely excluded.
China has also been edged out of the gas carrier market. South Korea leads with an 80 per cent share, followed by Japan at 20 per cent. In H1 2024, South Korea held 69 per cent, with China at 17 per cent and Japan at 14 per cent.
Ms Diamantara noted the uptick reflects a strategic push toward fleet modernisation and environmental compliance. The container segment is a frontrunner in adopting alternative fuels, aided by its predictable trade routes.
'Shipowners are phasing out older tonnage in favour of newbuildings equipped with dual-fuel engines, alternative propulsion technologies, and enhanced energy efficiency,' she said.
This trend aligns with increasingly stringent environmental regulations and growing pressure from cargo owners to decarbonise supply chains.
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