Greek shipowners launched an intensive construction program last year, closing significantly the gap with China.
In November 2023 the shipping organization BIMCO issued a survey, based on which the Chinese orderbook was 21% larger than the Greek one.
A year ago (November 2022) the annual survey of the maritime review Newsfront Naftiliaki reported that the Chinese had 600 ships under construction and the Greeks only 234.
However, the terms have almost reversed. At the end of July 2024, the order book of the “Greeks” consisted of 577 ships, while that of the Chinese consisted of 581, according to data shared with “Naftemporiki” by Irini Diamantara, executive of the Research and Valuations Department of the Xclusiv Shipbrokers shipbroker.
In other words, Greeks and Chinese are neck-and-neck, while the Greeks have more than doubled the size of the order book since November 2022.
This means that the Greeks are expected to maintain a safe distance from the Chinese for the leadership of the world fleet.
Last year’s BIMCO survey showed that the Greeks control 19% of the fleet’s tonnage in terms of DWT and the Chinese 15%.
Tankers
In this shipping derby, domestic shipping companies dominate in tankers and LNG / LPG carriers, while Chinese companies lead in bulk carriers and containerships.
In particular, the Greeks have placed orders for 270 tankers over the last years, accounting for 29% of the total activity, based on data from Xclusiv Shipbrokers.
Accordingly, the Chinese have 101 tankers on order, or 11% of activity.
In gas carriers, the Greek order book includes 102 ships, while the Chinese 64, with shares amounting to 17% and 11% respectively.
The performance of the Chinese in container ships is remarkable, having ordered a total of 128 ships, a figure corresponding to 18% of the international order book.
On their part, the Greeks have 37 containerships under construction, or 5% of international activity.
Finally, the Chinese are also the protagonists in bulk carriers, with a total of 288 ships under construction (23% of the global order book), compared to 168 of the Greeks (13% of the global order book).
