Greek-owned Fleet: New Historic Record and Challenges for the Greek Flag

Greek-owned Fleet: New Historic Record and Global Dominance

The Greek-owned fleet achieved a new historic milestone in 2026, once again confirming its leading role in global maritime trade. According to research by the Hellenic Association of Shipping Co-operation (GSCC), based on S&P Global Market Intelligence data, the Greek-owned fleet reached 4,388 vessels over 1,000 GT. This represents a 3.8% increase compared to the previous year and constitutes the largest capacity it has demonstrated to date. With a total deadweight tonnage (DWT) reaching 360.5 million DWT, Greek shipowners maintain a strong presence across all key cargo transport sectors, serving as one of the most robust pillars of the international shipping industry.

Significant Growth and Investments in New Vessels

Compared to the previous year, the Greek-owned fleet showed an increase of 167 vessels, 6,472,263 DWT, and 3,193,733 gross tonnage (GT). These figures, reflecting the fleet's status as of March 3, 2026, pertain to the existing fleet and do not include vessels under construction. Concurrently, Greek shipowners are implementing a significant investment program, with 422 vessels on order, totaling 40,212,290 DWT and 25,258,008 GT. These investments concern new, energy-efficient, and environmentally friendlier vessels, ensuring the Greek shipping industry's ability to meet stricter international environmental requirements and maintain its strategic importance in global trade.

Challenges for the Fleet under the Greek Flag

While the overall Greek-owned fleet sets records, the fleet flying the Greek flag registers a slight decline. Specifically, the number of vessels decreased to 463, which is 17 fewer than the previous year. A corresponding reduction was also observed in capacity, from 48,717,807 DWT in 2025 to 44,944,717 DWT, and from 29,551,538 GT to 27,445,524 GT. According to GSCC's analysis, this development underscores the need to reduce bureaucracy and increase flexibility within the Greek ship registry (νηολόγιο), to enhance its competitiveness and attract more investments, thereby preserving the national flag in international maritime transport.

Geographical Distribution and Dominant Registries

The Greek-owned fleet is distributed across 31 different ship registries worldwide. Over the last year, significant increases were recorded in the registries of Liberia (+130 vessels), Panama (+30 vessels), the Marshall Islands (+25 vessels), and Portugal (Madeira) (+19 vessels). Conversely, a slight decrease was noted in the registries of Malta and the Bahamas, while Cyprus and Barbados remained stable.

Liberia and the Marshall Islands remain the primary registries for Greek shipowners. Liberia hosts 1,279 vessels, representing 30.1% of the total DWT of the Greek-owned fleet with 111,307,219 DWT. The Marshall Islands follow with 1,061 vessels, 83,286,472 DWT, and 23.1% of the total DWT. Malta holds the third position with 579 vessels, 50,891,381 DWT, and 14.1% of the total DWT. The Greek flag ranks fourth, with 463 vessels, 44,944,717 DWT, and 12.5% of the total DWT of the Greek-owned fleet, followed by Panama with 330 vessels.