Greece also owns the second-largest LNG fleet, with 143 vessels and a fleet value of $31.1 billion.
While China has more tankers, the Greek tanker fleet has the highest value at $69.5 billion, surpassing China's by $22.1 billion.
According to VesselsValue, over the past two years, ongoing Russian sanctions and the resulting increase in tonne-kilometre demand have continued to boost tanker profits.
Additionally, the unfolding situation in the Red Sea provides further support for earnings, at least in the short term.
This has kept tanker prices at their highest levels since 2010 for most sectors; for example, prices for 15YO Suezmaxes of 160,000 DWT are currently up around 20.62% year-on-year from 38.37 USD million to USD 46.28 million.
Greece also owns the second-largest LNG fleet, with 143 vessels and a fleet value of $31.1 billion. Values in this sector remain firmly at high levels from 2022 due to increased demand.
Menas Tsamopoulos is a columnist for New Money.
