Greek fleet: fitted with ESTs, LNG dual fuel capable, tanker orderbook SOx scrubber-fitted

Greek Shipping continues to control more than 20% of global tonnage, with a strong presence in all shipping segments and a fleet exceeding 5,500 vessels, the Union of Greek Shipowners (UGS) says in its annual report for 2023-2024, which highlights the international, European and national perspective of Greek shipping’s vital services.

According to recent data there are about 4,700 companies in the tanker sector owning 3.6 vessels on average and almost 2,500 bulk carrier owners holding 5 vessels on average.

Greek shipowners have been constantly investing in new, larger and more efficient vessels.

Currently, the Greek orderbook stands at 384 vessels with a total capacity of 34 million dwt, recording a substantial rise compared to previous years.

In relation to 2023, the orderbook is higher by 60% in terms of vessels’ number and by 79% in terms of deadweight capacity, while compared to 2021 it is almost four times higher in terms of vessels’ number and more than two times in terms of deadweight capacity.

Apart from ordering larger vessels – the average capacity of a Greek-owned vessel currently on order is 88,748 dwt compared to 62,237 dwt for the world fleet.

35% of the Greek fleet is fitted with ESTs (global 23%), 6.7% of the Greek fleet is LNG dual fuel capable (global 5.3%), 36% of the Greek tanker orderbook set to be SOx scrubber-fitted (global 24%).

Meanwhile its direct and indirect impact on the Greek economy is estimated to be between 6.5% to 8% of gross domestic product (GDP).

The Union of Greek Shipowners (UGS) report presents statistics and data in several topics, ranging from the irreplaceable role of shipping in the modern world to the main features of the Greek-owned fleet and its environmental performance.

The annual report 2023-2024 also provides a concise overview of the positions and proposals put forward by the UGS in response to shipping’s major challenges during the previous year.

Regarding maritime policy, a significant part of this year’s annual report discusses the course of shipping towards a sustainable future.

In her preface to the report, the president of the UGS Melina Travlos, stresses:

“Greek shipping continues to create, to evolve, to invest and to lead with deep faith in its seamanship, honoring its long maritime tradition. Always a pioneer at sea”.

Read the UGS Annual Report 2023-2024 here.