Greek shipowners score double wins in tankers

Greek shipowners – widely regarded arsenic the “masters of the seas” – are erstwhile again demonstrating their superior bid of the “asset play” strategy.

At a clip when some freight rates and tanker plus values — a conception successful which Greeks dominate, controlling astir 1 successful 4 tankers — person surged to unprecedented levels, Greek operators are pursuing a combined strategy aimed astatine importantly boosting liquidity.

More specifically, they are capitalising connected the spot market, chartering VLCCs, Suezmaxes and Aframaxes astatine mean regular rates of astir 208,000, 278,000 and 232,000 dollars respectively, while fixing their newer vessels connected play charters of 1 to two years astatine rates ranging betwixt 100,000 and 120,000 dollars per day. At these levels, second-hand vessel prices person reached grounds highs. A 10-year-old VLCC is present theoretically valued astatine astir 110 cardinal dollars, representing a 36% summation compared to prices three months ago. A 10-year-old Suezmax has reached 71 million, up 11%; however, successful practice, the past 4 acquired by Sinokor were priced astatine 82 cardinal each. Similarly, Aframax tankers of the aforesaid property are valued astatine astir 60 cardinal dollars, with transactions for eight-year-old vessels reaching arsenic precocious arsenic 70 cardinal dollars. As shipbrokers noted, the marketplace is presently firmly successful “seller’s territory”, with transaction prices often exceeding standard plus valuations.

A word of caution

At the aforesaid time, the caput of BRS Shipbrokers, Gilbert Walter, has issued a strong warning to shipowners to amusement heightened caution when investing successful vessels astatine existent elevated terms levels.

With some plus values and freight rates rising sharply amid the turmoil successful the Middle East, Walter noted successful BRS’s yearly study that shipping companies tend to grow and prosper during marketplace upcycles. However, when the marketplace turns, little prepared and much financially exposed players are forced out.

Rather than pursuing assertive expansion, helium urged shipowners to intimately show marketplace conditions and hole for much challenging times ahead, referring to a storm connected the skyline — the standard and strength of which stay uncertain. He besides pointed retired that pursuing the archetypal interaction of US tariffs, the tanker marketplace rebounded successful September 2025, which successful turn stimulated shipbuilding activity. Nearly 500 vessels were ordered successful the last two months of 2025 alone.

He made peculiar notation to what helium described arsenic Sinokor Merchant Marine’s “coup” successful the VLCC market:

• More than 45 VLCCs changed hands discreetly towards the extremity of 2025.
• The institution came to power implicit 100 VLCCs.
• Including chartered vessels, its fleet approaches 130 units.
• By mid-February, it controlled astir 20% of the halfway VLCC fleet.

He characterised the determination arsenic a highly bold stake executed with implicit discretion.

In conclusion, the caput of BRS identifies a total of 10 marketplace cycles of roar and bust since 1967, including respective periods during which freight rates failed to screen adjacent operating costs. His cardinal connection to the marketplace is clear: “In an situation of precocious prices and geopolitical uncertainty, subject and preparedness are much captious than ever.”

Greek shipowners connected a fleet renewal trajectory

According to information from Allied QuantumSea, Greek shipowners person emerged successful 2026 arsenic starring sellers of older vessels astatine exceptionally precocious prices. In total, they person sold 116 retired of the 460 ships of each types that person changed hands globally. In the tanker conception alone, they person disposed of 60 units, compared to conscionable 18 tankers sold by Singaporean owners, who fertile second. According to information provided to Naftemporiki by Allied, Greek shipowners person generated proceeds exceeding 2.5 cardinal dollars from the merchantability of 60 tankers of various types.

At the aforesaid time, Greek operators are leveraging the substantial liquidity generated to renew their fleets. With tanker freight markets remaining astatine elevated levels successful the second portion of 2025, Greek shipowners had already placed 111 newbuilding orders successful the archetypal two months of 2026, with vigor transport vessels accounting for the largest share. According to the latest information, total orders person present exceeded 135 vessels.