Greek owners ramp up LNG carrier orders in most capital-intensive quarter on record

According to Xclusiv Shipbrokers, Greek owners placed orders for 11 LNG carriers in Q1, with a combined value of US$2.4Bn – marking the most capital-intensive quarter for gas shipping in its dataset by a wide margin. Nine of these vessels fall within the large LNG carrier segment, with capacities ranging from 141,000 to 200,000 m³

Leading owners – including Maria Angelicoussis’ Maran Gas, Evangelos Marinakis’ Capital Clean Energy Carriers, Anna Angelicoussis’ Alpha Gas, George Economou’s TMS Cardiff Gas, and Nikolas Tsakos’ Tsakos Energy Navigation have all resumed newbuilding activity since late 2025.

Greek owners are aligned with the global trend of rising orders. Riviera reported last month that LNG carrier orders in Q1 2026 had already surpassed the total recorded for the whole of 2025.

Xclusiv analysts noted that the current Greek orderbook reflects a “decisive pivot toward large-scale LNG exposure that would have seemed unlikely two years ago.”

Greek interests now have around 60 LNG carriers under construction, representing approximately 18% of the global orderbook as of the end of April, according to Xclusiv data. The vast majority of these vessels fall within the 141,000 - 200,000 m³ size range.

Data from Fearnley LNG shows that the global orderbook-to-fleet ratio currently stands at around 40%.

Shipbroking and market sources attribute the recent surge in newbuilding activity to expectations of rising global LNG production in the coming years.

Despite ongoing disruption linked to the Strait of Hormuz, charterer appetite remains firm. Most contracts signed so far this year are tied to long-term charters with established portfolio players.

At the same time, fleet renewal remains a key driver. According to Xclusiv Shipbrokers, the average LNG carrier is now over 10 years old, with roughly 30% of the fleet exceeding 16 years – pointing to the need for modern tonnage.