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Greek shipowners lead record surge in crude tanker orders

Φωτ. αρχείου REUTERS/Hamad I Mohammed

According to Signal Ocean, the orderbook for crude oil tankers exceeded 600 vessels (630) at the end of the first half of 2026, surpassing the previous record set in 2008

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Global orders for new tankers are reaching record levels, with Greek shipowners playing a leading role in the latest ordering boom.

According to Signal Ocean, the orderbook for crude oil tankers exceeded 600 vessels (630) at the end of the first half of 2026, surpassing the previous record set in 2008. A second all-time high was also recorded in the first six months of 2026, with orders placed for 261 tankers, exceeding the 234 vessels contracted during the entire 2006.

Almost all of the new orders — 98% — are for conventionally fuelled vessels, while only 2% are for ships powered by alternative fuels, all of them LNG-fuelled.

Greek shipowners are among the main investors in the current ordering cycle. According to Xclusiv, they account for 22% of VLCCs under
construction, 30% of Suezmax tankers and 18% of Aframax tankers currently on order.

Signal Ocean said VLCCs dominate the current ordering cycle.

The unprecedented surge in newbuilding orders has been driven overwhelmingly by the VLCC segment, which accounted for 78% of all
tanker orders contracted in the first half of 2026.

This marks a sharp contrast with the previous major ordering wave in 2006, when new orders were distributed almost evenly across the VLCC,
Suezmax and Aframax segments.

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