Greek owners enter 2026 with a wave of new tankers, deliveries head for two-decade high

Among the first arrivals of the new year was 114,000-dwt Aframax/LR2 Sea Orca, delivered on 5 January to Anna Angelicoussis-led Pantheon Tankers by COSCO Shipping Heavy Industry (Yangzhou). The vessel is the third in a series of four identical tankers being built at the Chinese yard, with the final unit scheduled for delivery later this year. 

In parallel, Pantheon Tankers is overseeing a separate newbuilding programme comprising two VLCCs and two Suezmaxes, scheduled to join the fleet through 2027.

In the Aframax/LR2 segment, CSSC’s Dalian Shipbuilding Industry Corp has handed over 115,000-dwt Cape Olympus to the Andrianopoulos family controlled Cape Shipping. The vessel is the first of two units under construction at the yard. As previously reported by Riviera, the Greek owner has formally re-entered the tanker market with a sizeable newbuilding programme, which recently expanded into the VLCC sector.

Another addition to the Greek-owned fleet is 114,000-dwt Lucknam, delivered by Jiangsu New Yangzi Shipbuilding to Laskaridis Maritime, led by Athanasios Laskaridis. The prominent owner has been actively growing its LR2 presence, placing an order at Hengli Heavy Industries for a further pair of vessels. With this deal, its under-construction tanker fleet has risen to 10 units.

LR1 and MR deliveries

China’s New Times Shipbuilding (NTS) has also delivered 73,500-dwt LR1 Petrokaravo to George Prokopiou-led Dynacom Tankers. Dynacom is overseeing one of the world’s largest ongoing newbuilding programmes, relying on NTS, among other yards, for a series of LR1 and additional tanker orders.

In the LR1 segment, Kriton Lendoudis’ Evalend Shipping received 75,000-dwt Jarama in early January from Yangzijiang Shipbuilding. According to the shipbuilder, Jarama is the third in a series of 10 identical vessels under construction for the Greek owner, who has been particularly active in newbuilding investment in recent years.

Concluding this first wave of early-year deliveries, the Kollakis family controlled Chartworld Shipping has taken delivery of 50,000-dwt MR Paros Star, also from Yangzijiang Shipbuilding. The shipyard noted that Chartworld has four sister vessels on order. Paros Star is set to join the DS Norden tanker pool.

Deliveries expected to surge in 2026

Greek owners currently hold the largest share of the global tanker orderbook. According to Xclusiv Shipbrokers’ latest monthly report, as of end-December 2025, Greek interests had 317 tankers under construction – representing 25% of the worldwide orderbook. Suezmax and Aframax/LR2 units form the core of Greece’s newbuilding commitments.

A significant share of these tankers will enter service this year. In a recent report, BRS Shipbrokers documented 199 tanker deliveries in 2025 – the highest annual total since 2019. However, this figure is expected to be surpassed in 2026.

Of the 956 tankers currently on order, BRS estimates that approximately 40%, or 379 vessels, will be delivered in 2026. If realised, this would mark the highest yearly total in two decades, underscoring the scale of the ongoing fleet renewal and expansion.