Shipbroker Xclusiv Shipbrokers data shows that Greek shipowners placed orders for a total of 11 liquefied natural gas (LNG) carriers in the first quarter of 2026, with a total order value of $2.4 billion—far exceeding the historical average for the same period and setting a record for the highest single-quarter investment in gas carriers.
Of the 11 LNG carriers ordered by Greek shipowners in the first quarter, 9 were large vessels with capacities ranging from 141,000 to 200,000 cubic meters. The owners of these newbuilds include Maran Gas, Capital Clean Energy Carriers, Alpha Gas, and TMS Cardiff Gas.
In line with the ordering trends among Greek shipowners, global orders for LNG carriers also picked up in the first quarter, with a total of 35 vessels ordered—nearly matching the total number of orders for the entire year of 2025.
Xclusiv analysts note that Greek shipowners’ current order books reflect a “decisive shift toward large-scale LNG operations, which seemed unlikely just two years ago.” According to the firm’s data, as of the end of April, Greek shipowners had approximately 60 LNG carrier orders on their books, accounting for about 18% of the global total. The vast majority of these vessels have cargo capacities ranging from 141,000 to 200,000 cubic meters.
Additionally, according to data from shipping consultancy Fearnley LNG, the ratio of global LNG carrier orders on hand to the active fleet currently stands at approximately 40%.
Shipbrokers and market analysts attribute the recent surge in orders for LNG carriers to market expectations of continued growth in global LNG production over the coming years.
Despite the ongoing instability in the Strait of Hormuz, charterer demand remains robust. The majority of contracts signed so far in 2026 relate to long-term charter agreements with established portfolio operators.
Concurrently, fleet renewal remains a key driver. Xclusiv Shipbrokers notes that the average age of LNG carriers has now exceeded 10 years, with approximately 30% of the fleet over 16 years old—a clear indication of the market’s urgent need for a modernized fleet.