Greek shipowners are accelerating investments in tanker fleets, ordering 111 new vessels and acquiring 40 additional tankers during the first five months of 2026 as the industry positions itself for a potential increase in crude oil and LNG shipments through the strategically important Strait of Hormuz.
According to a recent report by shipping consultancy Xclusiv, a total of 280 tanker orders were placed worldwide between January and May 2026, representing an estimated value of $24.5 billion. Greek owners accounted for nearly half of those orders.
The value of Greek tanker newbuilding investments reached approximately $10.2 billion, representing more than 41% of total global spending on new tanker construction during the period.
Crude oil carriers dominated ordering activity. Of the 111 vessels ordered by Greek shipowners, 44 were Very Large Crude Carriers (VLCCs) and 36 were Suezmax tankers, meaning the two segments accounted for more than 72% of all Greek tanker orders.
Greek owners also remained active in product tanker markets, ordering 13 Aframax/LR2 vessels and 17 MR2 tankers. However, the orderbook highlights a clear strategic focus on crude oil transportation as owners prepare for anticipated shifts in global energy trade routes.
Beyond newbuildings, Greek shipowners expanded their fleets through acquisitions, purchasing 40 tankers with an estimated combined value of around $2 billion. The figure ranked Greece second globally, behind only South Korea, whose shipowners acquired 55 vessels during the same period.
The strongest buying interest was recorded in the MR2 segment, which accounted for 16 acquisitions, followed by 12 Suezmax purchases. Most transactions involved vessels aged between 11 and 15 years, although buyers also targeted younger ships less than five years old.
Asset sales generate $2.87 billion
Between January and May 2026, a total of 318 tanker transactions were completed worldwide, nearly double the volume recorded during the same period a year earlier. VLCCs led the market with 76 sales, representing 24% of all transactions. MR2 tankers followed with 74 deals, while Suezmax vessels accounted for 39 transactions.
Greek owners ranked as the world’s largest tanker sellers, disposing of 61 vessels, equivalent to roughly 19% of all tanker transactions completed during the five-month period. In value terms, these sales generated approximately $2.8 billion out of a global tanker transaction market worth an estimated $13.7 billion, giving Greek shipowners a market share of around 20%.
VLCCs represented the largest share of Greek tanker sales, with 18 vessels changing hands, followed by 13 Suezmax tankers and nine MR2 vessels. Nearly half of the ships sold were between 16 and 20 years old.
