Greek shipping has retained its commanding position on the global stage, undeterred by geopolitical turmoil, tighter environmental rules and the uncertainty over future fuels.
That is the central finding of Petrofin Research's annual survey, published in mid-September, which depicts a sector still strengthening its footprint, though at a slower pace than in the boom years of the previous decade.
The study shows a continuing consolidation trend. In 2024 the number of Greek shipping companies slipped to 588, down from 592 a year earlier. Smaller operators with one or two ships are increasingly seen as unviable, while major groups with fleets exceeding 25 vessels now control almost 69 percent of the market. At the same time, 85 owners managing fleets of more than one million deadweight tons collectively account for 80 percent of Greek shipping capacity, a steep rise compared with 2015.
Overall, the Greek-owned fleet expanded to 6,708 vessels in 2024, representing 488.6 million deadweight tons, an annual increase of 214 ships and 13.8 million dwt. Bulk carriers remain the backbone with 2,921 vessels and an 8.4 percent rise in carrying capacity. Tankers reached 1,004, containerships held steady at 489, while leading shipowners consolidated their dominance. Gas shipping also grew, with the LNG carrier fleet increasing to 170 vessels and six new large units added to the LPG segment.
The age profile of the fleet suggests cautious investment in new tonnage. Ships aged up to nine years now represent 45 percent of the total, compared with 40 percent in 2023, while the 15–19-year category has also expanded, underscoring limited activity in fresh orders. Even vessels more than 20 years old remain active in the market.
Growth has slowed in recent years. Between 2020 and 2024 the Greek fleet grew at an average of 4 percent per year, down from 7 percent in the previous decade. The deceleration mirrors global shipping trends, shaped by political instability, higher interest rates and more stringent environmental requirements. Yet Greece continues to lead in orders for "eco" vessels, even if only a small fraction—around 3 percent—feature fully green technologies.
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