Greek shipowners used the opportunities offered by the second-hand market to renew their bulk carrier fleets in 2025.
The limited availability of berths in Asian shipyards, the high cost of construction, and the foggy landscape regarding new green fuels brought the second-hand market to the forefront with sales of older bulk carriers and at the same time selected purchases of newer and eco-friendly ships.
As Xclusiv pointed out in its analysis, the data shows that Greek shipowners are proceeding with a smart fleet realignment.
They are selling older supramax and panamax class ships at good prices and buying newer eco-tonnage, where the fundamentals are more positive, keeping their fleet balanced in view of a medium-term positive cycle.
Greece has 126 ships, a figure that shows that Greek shipowners remain extremely active, but much more selective compared to the more intense buying phases of previous cycles.
In terms of sales, Greece is at the top with 139 sales, followed by Japan with 114 and China with 104.
More specifically:
Focusing on Greek shipowners, the 126 ships acquired this year are mainly concentrated in the Handy, Ultramax and Kamsarmax categories.
Handies lead with 42 units, followed by 24 Kamsarmax and 20 Ultramax.
Three categories that alone represent more than two-thirds of the markets.
The age distribution reinforces this targeting: Greeks are strongly focused on ships between 6 and 15 years old, where prices remain reasonable and commercial flexibility is sufficient to support a multi-year investment perspective.
Investments in Ultramax and Kamsarmax aged 0-5 years are also impressive, which shows that for some groups the transition to an eco-fleet remains a key strategic priority.
On the sales front, the 139 ships sold by Greeks consist mainly of Supramax (46) and Panamax (40).
The picture is perfectly in line with the purchasing pattern. Greek shipowners are liquidating older Supra and Panamax vessels and replacing them with newer, larger capacity or more fuel-efficient fleets.
In terms of age distribution, the supras sold are mainly in the 11-25 year old category, while the panamaxes are mainly in the 16-25 year old age range.
Source: Naftemporiki