Greek shipping is increasingly vulnerable to shifts in global shipbuilding dynamics, particularly due to growing tensions between the U.S. and China. Recent statements from former President Trump highlighted a renewed focus on enhancing U.S. shipbuilding capabilities, which may have significant repercussions for international shipping, especially vessels constructed in China.
The U.S. administration’s inclination to impose potential tariffs on foreign-built ships could elevate operational costs and create logistical hurdles for shipping companies around the world. As these geopolitical factors evolve, the shipping industry is faced with the prospect of a transformed competitive environment.
While initiatives by private sector giants like CMA CGM to bolster U.S. maritime infrastructure demonstrate support for domestic development, questions linger around the scalability and long-term sustainability of U.S. shipbuilding. The implications of protectionist measures on global trade relationships could be profound for both American and international players in the market.
An analysis of the Greek shipping fleet highlights a concerning dependence on Chinese shipbuilding. Approximately 43% of the existing Greek bulk carrier and general cargo vessels, those weighing over 10,000 DWT, are Chinese-built.
Among the 168 bulk carriers on order, 135 are being constructed in China, while only 33 vessels are being built elsewhere. The trend is also observed in the tanker sector, where 26% of Greek tankers are of Chinese origin, and 216 out of 288 tankers currently on order are being manufactured in China.
The container sector reflects the highest reliance on Chinese shipyards, with 30% of the current fleet built in China and all 46 vessels on order being constructed there. In contrast, the gas carrier segment registers the least dependency, with only 4% of Greek gas carriers built in China.
The limited engagement with Chinese shipyards in this sector may stem from specialized technological requirements and established relationships with certain shipyards.