Greek Shipowners Maintain Dominance in Tanker Market

Greek vessel

Greek-owned tankers remain the most valuable in the global market, holding an estimated value of $70 billion, according to the British company VesselsValue. This data, as of February 2024 and obtained by Kathimerini, positions Greek shipowners as third globally in fleet value, behind only Japan ($206.4 billion) and China ($204 billion).

While the United States ranks fourth with a fleet valued at $100 billion (half of which comprises cruise liners), Singapore follows closely with $85.6 billion.

VesselsValue chart 1 2

Rounding out the top ten are shipowners from South Korea, Norway, Britain, Germany, and Hong Kong.

Greece holds the lead, however, in the specific area of tankers due to the size and age of their vessels. While China boasts a larger number of tankers, Greece's larger and newer ships contribute to a significantly higher fleet value. This advantage stems from recent investments the Greek shipping industry continues to make. Thus, they exceed the Chinese by more than $22 billion.

Expanding on Greek Shipping Strength:

Specifically, according to analyst company VesselsValue, which since last year has been controlled by Veson Nautical, Greek shipowners hold a dominant position across various maritime sectors:

  • Total fleet value: $169.39 billion
  • Tankers: $69.51 billion
  • Bulk carriers: $49.5 billion
  • Liquefied natural gas (LNG) vessels: $31.13 billion (second-largest in the world, following Japan)

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