South Korean shipyards in Greece are benefitting from a shift in geopolitical trends

South Korean shipyards are benefiting from US policy, which discourages investment in Chinese-built vessels according to a report by the riviera website. South Korea’s shipyards now lead in Greek newbuilding orders in 2025 

Chinese shipyards are seeing a steep drop in order volume. According to Xclusiv Shipbrokers research analyst Eirini Diamantara, Greek shipowners placed orders for 34 vessels in the first four months of 2025, a sharp decline of nearly 65% compared with 97 vessels during the same period in 2024. 

Riviera reports that Greek owners have been: “notably conservative in newbuilding investments. Ongoing trade tensions and the USTR port fee plan have dampened sentiment for fresh orders. This cautious approach is not limited to Greek owners but reflects a broader trend in the global shipping industry, where political risk is widely seen as a major factor shaping investment decisions.” 

South Korean shipyards have reportedly emerged as the top destination for Greek newbuilding activity in 2025, securing contracts for: “21 vessels, accounting for almost 62% of total Greek orders.  Chinese yards, by contrast, have experienced a significant retreat in Greek business. Orders dropped from 59 in early 2024 to just 12 so far this year.” 

The vessel types being ordered reveals: “a clear preference for Suezmax tankers among Greek owners.” According to Xclusiv Shipbrokers, 13 of the 17 tanker orders so far in 2025 were for Suezmax vessels, with the rest split between VLCCs and MR2 tankers. This compares to the same period last year when Greek owners ordered 16 Suezmaxes, 10 Aframax/LR2s, and seven Panamax/LR1s, among other types. 

In the container segment, Greek companies signed contracts for: “10 neo Panamax vessels and two feeder ships in early 2025. This is an increase from four neo Panamaxes ordered in the same period of 2024.”