South Korean shipyard's visit to Greece leads to new orders for product tankers

Market sources told Riviera representatives from K Shipbuilding recently visited Greece to discuss new tanker orders with local shipowners. These talks appear to have borne fruit, as the yard announced fresh deals last week.

According to Korean media, K Shipbuilding revealed on 25 April it has secured contracts for four 50,000-dwt MR product tankers with two European shipping companies. Shipbroking sources indicate Greek owners are behind these orders.

A K Shipbuilding official, quoted by Korean outlets, noted the ongoing replacement of ageing fleets is expected to support sustained growth in the shipbuilding market.

The newly ordered product tankers will comply with the latest environmental regulations and will be outfitted with LNG- and methanol-ready components. Some shipbrokers report the vessels have secured early delivery slots in 2027.

K Shipbuilding has established strong ties with the Greek shipowning community, particularly for product tanker projects. Industry databases show Navios Maritime Partners, Steelships, Chemnav Shipmanagement and Sea Pioneer Shipping Corp have all placed similar orders at the yard over the past two years.

Policy shift favours Korean shipbuilders

Riviera previously reported that following US plans to impose tariffs on Chinese-built ships, many Greek owners have increasingly turned to South Korean yards for their newbuilding needs. These orders mainly involve tankers and container vessels, while bulk carrier newbuilding activity remains subdued in 2025.

Although recent US announcements suggest a softer approach than initially outlined, most Greek owners remain hesitant to engage Chinese shipyards for new projects.

A senior executive at one of South Korea’s leading shipbuilders told Riviera in late March the US policy shift is likely to create "statutory demand" for new orders across all major vessel segments.