By Paris Tsirigotis

The Greek-owned fleet, which according to the latest data from the Union of Greek Shipowners represents 19.1% of global transport capacity, is a strategic pillar of the economies of Europe, the United States and China.

The president of the Union, Melina Travlou, recently described Greek shipping as a guarantor of energy and food security when speaking about the position of shipping in Europe.

In the energy sector, Greek shipowners control more than 26% of global tanker capacity and 23% of LNG carriers. They also account for 16% of bulk carriers transporting raw materials and cereals. Nearly one in four vessels carrying energy products worldwide is Greek-owned. This leading position is recognized by major trading partners, including the United States and China.

In a move that marks a change in strategy in new buildings, shipowner Evangelos Pistiolis is turning to China for the first time in years, placing an order for 10 product tankers through Central Group.

His company has agreed with Guangzhou International Shipyard to build 10 MR product tankers, with a capacity of approximately 50,000 dwt. According to market sources, this is an investment of close to 500 million dollars.

Central currently operates one handysize product tanker, the Eco Revolution (39,000 dwt, built 2016).

The MR tanker market is a familiar area for Pistiolis, who also operates in the crude oil sector. Evangelos Pistiolis’ New York-listed Top Ships operates six tankers – two VLCCs, one Suezmax and three MRs.

China seeks stronger maritime ties with Greece

The new director of the Chinese Classification Society in Greece, Cui Yuwei, highlighted the role of the Greek shipping community in transporting cargo to China. As he said, they transport more than 20% of China’s cargo. Approximately 50% of the transport of energy cargo, such as crude oil, refined products and natural gas, related to China’s imports and exports, is carried out by Greek ships, he underlined.

The Greek fleet also transports key bulk cargoes such as iron ore, coal and grain. According to 2025 data, around 30% of the volume of cargoes such as bauxite and LNG carried by Greek shipowners is directly linked to the Chinese market. The Greek fleet has a world-leading safety record, with no major accidents reported in 2025. The average annual operating time (days at sea) is 320 days, compared to an industry average of 290 days. In the Port State Control (PSC) records of the China Maritime Safety Authority, the Greek fleet maintains a high operational efficiency and safety performance, thanks to a high level of compliance and effective management.

Cui said China warmly welcomes Greek shipowners to participate in the transportation of Chinese imports and exports. He noted that China has been the world’s leading trading power for nine consecutive years and has become a key trading partner for more than 150 countries and regions. This strong and ever-increasing demand creates significant opportunities for international shipping. He added that China is ready to share these opportunities with all countries, including Greece, and looks forward to strengthening cooperation between Greek shipowners and Chinese shipping companies.

He also said China is willing to enhance cooperation with Greece in shipbuilding and ship repair. Chinese shipyards are distinguished by their short delivery times, high cost-effectiveness and flexible management. At the same time, China has made significant progress in the construction of high-tech ships, including LNG carriers and large tankers. This year, its shipyards have again recorded a significant increase in orders, reflecting the strong market confidence in the Chinese shipbuilding sector. He emphasized that Chinese shipyards are ready to provide high-quality services to Greek shipowners.

He further said that China is willing to support Greece in strengthening its shipbuilding and ship repair capabilities. At the same time, China welcomes the entry of Greek shipbuilding components and systems into the Chinese market. The Chinese Embassy is ready to facilitate cooperation between the two countries in these areas.

He added that China is ready to work with its Greek partners to address the challenges of the green transition in shipping. Although the International Maritime Organization (IMO) recently decided to postpone the discussion of the Net-Zero Framework for one year, this does not constitute a rejection of the decarbonization of shipping, but reflects the need to further study and improve relevant measures. China seeks to deepen investment and technological cooperation with Greece in the field of green shipping, jointly promote the production and use of green marine fuels, and formulate objective, rational and realistic positions in the international community.

Turning point

The shipping industry is currently at a critical turning point. According to George Xiradakis, Founder and CEO of XRTC, regulatory reforms, decarbonization, digitalization and risk management frameworks are reshaping the way ships are designed, financed, classified and operated.

In recent years, he added, cooperation between China and Greece in the shipping sector has reached a new level of maturity and scale. Greek shipping leads the world in the ownership of large, high-value merchant ships, while Chinese shipping is distinguished by fleet expansion, large-scale shipbuilding production and integration into global logistics networks.

This cooperation has extended far beyond traditional trade ties, covering shipbuilding, shipping financing, technical services and long-term fleet development strategies. Today, 63% of new ship orders by Greek shipowners are built in China. Together, Greek and Chinese shipping interests control almost 34% of global ship tonnage.

Chinese shipyards have become a strategic destination for Greek shipowners, not only due to their capacity and cost efficiency, but increasingly due to their technological superiority, environmental performance and the possibility of customized ship design. At the same time, cooperation in maritime financing through Chinese financial institutions and innovative leasing structures, and Greek maritime know-how, continue to enhance fleet renewal and long-term investments.