EL
Union of Greek Shipowners

Hellenic ShippingMoves the World

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President's Address

In an era of growing uncertainty, shipping once again confirms its enduring role as a force of continuity, stability and connection.

At the international level, 2025 was a year marked by major disruptions that continue to unfold with intensity and on multiple fronts. Geopolitical tensions and, above all, conflicts in critical maritime regions placed shipping at the centre of an environment of unprecedented risk. Attacks against merchant vessels and seafarers in the Red Sea, the Black Sea and, more recently, the Strait of Hormuz revealed a new reality, in which freedom of navigation and safety at sea are being directly challenged and undermined.

Our position has been clear and firm: freedom of navigation is a global public good. The protection of the environment, of vessels and, above all, of human life is non-negotiable. We have conveyed this message consistently, with institutional responsibility and a strong voice, across all relevant fora.

In this demanding environment, Hellenic shipping maintained its leading position internationally, reaffirming its strategic importance, reliability and resilience. The Greek-owned fleet continues to play a leading role in international maritime transport, contributing decisively to energy security, food supply and the stability of global supply chains.

At the same time, we remain firmly committed to the industry’s green transition. Hellenic shipping, a pioneer in this field as well, continues to invest systematically in new vessels, innovative technologies and emission-reducing solutions, with one of the youngest fleets in the world and the largest fleet of vessels with alternative fuel capability.

However, the transition towards decarbonisation requires realism, technological maturity and global alignment. The outcome of the recent IMO MEPC 84 session offers a second chance to restore consensus, with the aim of achieving a globally applicable and practically implementable framework for reducing greenhouse gas emissions from ships.

In Europe, we remain steadfast in highlighting the strength of our shipping as a strategic pillar of the European economy and of the continent’s energy and food security. At the same time, we have continued to insist on the need to safeguard the competitiveness of European shipping against measures that create distortions without delivering meaningful environmental results. Competitiveness and sustainability are not opposing forces. They must coexist in order to achieve a fair and balanced transition.

At the national level, our priority, in this era of major disruptions, remains the safeguarding of Hellenic shipping’s leading position. For us, however, leadership also means responsibility towards our country, society and future generations.

Within the framework of our Union’s Aid Programme for Thessaly, “Agios Nikolaos”, we completed the restoration and reconstruction of 33 school facilities. The response we received from the local communities was deeply moving. “You did not only rebuild our school. You rebuilt our faith. You rebuilt our hope.” It is with these words, that Vasilis, a student at Farkadona Junior High School in Trikala, described our work.

At the same time, through UGS’s expanded scholarship programme “SYN-ENOSIS for Education +100 Scholarships”, we continue to reward excellence and support young people who excel with their knowledge, values and ethos.

Unity is our strength. With a common strategy, institutional consistency and collective responsibility, Hellenic shipping will continue to lead on the seas of the world and contribute meaningfully to shaping the future of global shipping.

Melina Travlos
President · Union of Greek Shipowners
Greek Shipping: The Leading Cross-Trader

A Global And Universally Trusted Powerhouse

Greece has constituted the top maritime nation for many decades consecutively. It remains the leading force in strategic ship types worldwide by a large margin.

5,800
Vessels
Greek-owned merchant fleet
458
Million DWT
Deadweight tonnes capacity
175,000+
Port Calls
Across the globe in 2025
171
Countries
Connected by Greek ships
19.1%
of global fleet (DWT)

Fleet Composition · 2026

Number of vessels and share of global fleet by ship type

Bulk Carriers
2,766
22%of global fleet
Oil Tankers
1,064
26%of global fleet
Chemical Tankers
574
16%of global fleet
Containerships
527
8%of global fleet
General Cargo
261
4%of global fleet
LNG Carriers
172
23%of global fleet
LPG Carriers
157
11%of global fleet
Vehicle Carriers
77
8%of global fleet
98%of capacity serves third-country trade · The world's largest cross-trader

Source: UGS calculations, based on data from S&P Global Market Intelligence, January 2026.

#1 in Oil Tankers Worldwide
26% of global fleet · 1,064 vessels
#1 in LNG Carriers Worldwide
23% of global fleet · 172 vessels
#2 in Bulk Carriers Worldwide
22% of global fleet · 2,766 vessels
Sustainability

Leading the Green Transition

Greek shipowners continue to invest in fleet renewal, keeping Greek shipping at the forefront of the sector’s transition to a net-zero future.

Greek Newbuilding Orderbook

Building the fleet of tomorrow

725
vessels on order
70
million DWT under construction
$60
billion total investment value

Compared to 2021, the Greek orderbook is 7× higher in number of vessels and 5× higher in capacity.

Source: Clarksons Research, World Fleet Register, January 2026 and UGS Annual Reports, 2021–2025.

The Greek-owned fleet ranks above the global average in all categories of environmental equipment and is the world’s largest alternative-fuel capable fleet, EST-fitted fleet and SOx-scrubber fitted fleet in terms of DWT.

Alt-Fuel Capable
#1 in the world
EST-Fitted Fleet
#1 in the world
SOx Scrubbers
#1 by DWT
Fleet Age
One of the youngest globally

Environmental Equipment

Share of fleet by gross tonnage (2026)

Greece
World
SOx Scrubber
Greece 35%World 31%
LNG Capable
Greece 8%World 7.6%
Energy-Saving Technologies
Greece 53%World 46%
Eco Modern Engines
Greece 48%World 37%

Source: Clarksons Research, World Fleet Register, January 2026.

Shipping carries almost 90% of global merchandise trade, while international shipping accounts for only 1.4% of global GHG emissions.

1.4%
of global GHG emissions
Same for 3 consecutive years
13.3%
of EU transport emissions
Down from 16.8% in 2008

Source: Crippa, M., et. al., GHG Emissions of All World Countries, Publications Office of the European Union, Luxembourg 2023, 2024, 2025.

Source: European Commission, EU transport in figures - Statistical pocketbook 2025, 2025.

EU Autonomy & Resilience

The Stalwart of Europe

Greek shipping accounts for 61% of the total capacity of the EU-controlled fleet. From energy and food security to supply-chain resilience, Greek shipping is the indispensable backbone of European competitiveness.

Europe’s competitiveness and strategic autonomy pass through shipping.

Greek Shipping
61%
of EU-controlled fleet capacity

Greek share of EU-controlled fleet

By ship type, in DWT · 2026

Oil Tankers
84%
LNG Carriers
81%
Bulk Carriers
77%
LPG Carriers
62%
Chemical Tankers
48%
Vehicle Carriers
20%
Containerships
14%

Source: Clarksons Research, World Fleet Register, January 2026.

EU energy imports by sea

Share of total imports · 2025

92.5%
Solid fossil fuels
87.3%
Crude oil
92.7%
Petroleum products
46.7%
LNG

Source: Eurostat database, International Trade in Goods, 2026.

EU Trade & Freight Transport
75%+
of EU external trade
Carried by vessels
67.4%
of EU freight transport
By tonne-km

Source: Eurostat database, International Trade in Goods, 2026.

EU Energy Import Dependence
97%
Dependence on oil and petroleum products imports
Shipping ensures their uninterrupted flow
85%
Dependence on natural gas imports
Transport secured by shipping

Source: Eurostat, Energy in Europe - 2026 edition, 2026.

A National Asset

Source of National Pride

Shipping is the most extrovert sector of the Greek economy — a permanent engine of growth, employment and national resilience.

Greek shipping is not only an economic force. It is a national asset, a source of pride and a long-standing pillar of growth for Greece.

8%
of Greek GDP
Directly and indirectly (7–8%)
200K
Jobs Created
160–200K positions
57%
of total goods exports
Receipts from maritime transport, average of the last five years
6%
of Private Jobs
Tied to shipping

Source: McKinsey & Company, “Greek shipping: Success factors and opportunities”, 2024 & Bank of Greece, Balance of Goods and Services, 2026.

Annual contribution
$2B

Beyond direct economic impact — a testament to why shipping is a national asset for Greece.

$1.5B
Invested annually
Real estate, hospitality, energy, banking, media & sports
$500M
Donated annually
Social welfare initiatives across Greece

Source: McKinsey & Company, “Greek shipping: Success factors and opportunities”, 2024.

Energy Transition

A Realistic Pathway to Decarbonisation

Shipping has always been characterised by a high degree of self-regulation. It is this self-regulation that has made shipping the most cost-effective and energy efficient mode of transport, with direct economic benefits for the global consumer.

Following IMO MEPC 84 in April/May 2026, renewed discussions on reducing GHG emissions from ships offer a second opportunity to shape realistic, practical proposals for a globally accepted agreement that reflects shipping’s specific characteristics and supply-chain realities. Without safe, affordable and scalable low- and zero-carbon fuels available worldwide, full decarbonisation will remain unattainable.

In the quest for an effective pathway to decarbonisation, shipping needs:

  • achievable and fit-for-purpose global targets and solutions,
  • taking into consideration the industry’s invaluable know-how,
  • ensuring a global level playing field,
  • engaging all stakeholders, like fuel producers, to contribute their essential input, and
  • the safety of seafarers and vessels always being the overarching principle.

SHIPPING AT AN ENERGY CROSSROADS: ONLY PRAGMATIC TARGETS AND A VIABLE PATHWAY TO SHIPPING’S DECARBONISATION WILL GUARANTEE BOTH THE ECONOMIC AND THE ENVIRONMENTAL SUSTAINABILITY OF OUR PLANET

EU Maritime Policy

EU Maritime Policy at the Center of EU Strategy

Europe’s competitiveness and strategic autonomy pass through shipping, as the guarantor of energy and food supply in the EU.

REGIONALISM: A THREAT TO BOTH COMPETITIVENESS AND DECARBONISATION

Regional measures in the combat of GHG emissions from ships:

  • obstruct the reaching of an international agreement,
  • pose a threat to shipping, being obliged to comply with diverse revenue generating mechanisms, without due regard to the industry’s characteristics,
  • endanger the uninhibited trade flows around the world,
  • undermine the competitiveness of the region which has adopted them, and
  • essentially bear no environmental benefits.

A PATCHWORK OF REGIONAL REGULATIONS IS AN OBSTACLE TO A CARBON-FREE FUTURE AND MENACING FOR TRADE AND SHIPPING’S SUSTAINABILITY

In a holistic view, concrete actions should inter alia:

  • focus on global competitiveness, free trade and maintenance of the current EU fiscal framework for shipping,
  • withdraw regional measures which weaken Europe’s position in global markets,
  • support an efficient and pragmatic international regulatory regime for shipping’s decarbonisation,
  • safeguard shipping SMEs, which constitute the backbone of EU shipping,
  • facilitate access to competitive ship finance and remove unnecessary burden and restrictions.

THE EU INDUSTRIAL MARITIME STRATEGY IS A MILESTONE FOR ENHANCING EU SHIPPING’S GLOBAL COMPETITIVENESS

Maritime Security

Freedom of Navigation —A Global Public Good

Shipping must not become collateral damage in geopolitical and trade tensions. Protecting vessels, seafarers and freedom of navigation is a shared international responsibility.

Protection of vessels & crews
Coordinated international action to defend life at sea.
Stability of supply chains
Safeguarding affordable essential goods worldwide.

SAFEGUARDING SHIPPING, AS A STRATEGIC PARTNER OF ECONOMIES AND SOCIETIES, IS A GLOBAL SHARED RESPONSIBILITY

Seafarers

Raising Awareness of their Critical Role

Seafarers remain the silent keepers of global trade

Initiatives to enhance the image of the seafaring profession and tangible recognition of seafarers as key workers are needed. As the shipping industry undergoes an energy and digital transformation, the reskilling and upskilling of seafarers is a critical prerequisite so that they can respond safely and effectively to the sector’s smooth transition to its future.

THE RESKILLING AND UPSKILLING OF SEAFARERS ARE A CRITICAL PREREQUISITE FOR A SMOOTH TRANSITION TO SHIPPING’S FUTURE

UGS Social Welfare Contribution

The Social Welfare Contribution of Greek Shipping

Through SYN-ENOSIS and nationwide programmes, the UGS has contributed over €130 million to health, education, social welfare, food aid, other public interest projects as well as crisis management, directly or indirectly supporting more than 3 million of our fellow citizens in recent years.

Thessaly

“Agios Nikolaos” UGS Aid Programme for Thessaly

Through the “Agios Nikolaos” Aid Programme for Thessaly, the Union of Greek Shipowners supported the restoration and reconstruction of 33 school facilities, standing by local communities in a tangible and meaningful way.

  • €50Mraised for Thessaly
  • 33school facilities restored and reconstructed
You rebuilt our faith. You rebuilt our hope.
— Vasilis, student at Farkadona Junior High School, Trikala
Annual Postgraduate Scholarship Programme

“SYN-ENOSIS for Education”

Through its expanded scholarship programme, the UGS continues to reward excellence and empower the next generation progressing with knowledge, values and ethos.

Academic Year 2025–2026
  • 130scholarships
  • 52universities
  • 14countries
We extend our limits when we exceed them. The Union of Greek Shipowners provides us, in the most tangible way, with the impetus to achieve this academic milestone.
— Michael, UGS Scholar 2025–2026, MSc in Environmental, Disaster and Crisis Management Strategies, National and Kapodistrian University of Athens
Academic Year 2026–2027
  • 365scholarships

empowering the next generation, every day

Health & Welfare

  • 2,200 single-parent families supported across 51 regions
  • Full equipping of the New Nursing Home of Kilkis
  • Donations to hospitals across Greece

Education

  • 130 graduate scholarships awarded in 2025
  • 52 universities · 14 countries
  • 365 scholarships for 2026–2027

Crisis & Safety

  • Train tracking system donation to Ministry of Transport
  • Strengthening forest-fire protection
  • Support to the Hellenic Police