- China has rapidly expanded its commercial fleet and maritime capabilities, positioning itself as a major player in international shipping and global trade.
- China now leads in commercial fleet size and shipbuilding, producing over half of the world’s merchant tonnage annually and investing heavily in advanced maritime technologies.
- China’s maritime expansion supports its broader geopolitical ambitions, providing economic leverage and potential military advantages in a multipolar world order.
China’s rapid advancement in the global shipping industry underscores its growing economic and geopolitical influence. As the world’s largest shipowner and a leading force in shipbuilding, China has leveraged its economic power to dominate international maritime trade. With significant investments in cutting-edge ship technologies and strategic overseas port acquisitions, China enhances its global trade influence and geopolitical leverage, reflecting its prominent role in the emerging multipolar world order, reports Greek Reporter.
China’s growing shipping fleet
Over the past several decades, China has achieved remarkable economic growth and has emerged as a dominant force in numerous industries. A key aspect of this expansion is its strategic involvement in international shipping and maritime commerce. The Maritime Silk Road (MSR), a crucial element of Beijing’s Belt and Road Initiative (BRI), aims to enhance China’s economic and geostrategic influence by developing its maritime capabilities.
Shipping plays a vital role in global trade, with approximately 80 percent of goods transported by sea. This includes essential commodities like food, which sees about 60 percent transported by maritime routes. The significance of shipping is highlighted by disruptions such as the 2021 Suez Canal blockage, which halted $10 billion in daily trade for six days.
China’s commercial fleet has grown substantially, overtaking Greece in gross tonnage and fleet value as of August 2023. This growth is driven by China’s position as the world’s largest exporter and second-largest importer of goods. With projections of a 1.2 billion-strong middle class by 2027, China’s state-owned shipping companies are capitalizing on this economic growth.
The Chinese shipbuilding industry has become a global leader, producing over half of the world’s merchant tonnage annually, a dramatic increase from only five percent in 1999. This growth has been supported by significant government investment and strategic efforts to capture market share from established global players.
China is also making strides in maritime technology. In December 2023, it unveiled a groundbreaking nuclear container ship design at the Marintec marine expo in Shanghai. The KUN-24AP class, featuring fourth-generation Molten Salt Reactor technology, promises to revolutionize maritime commerce with a nearly zero-emissions footprint.
In addition to technological advancements, China has expanded its influence through overseas port investments. From 44 ports in 2013, China now controls or manages nearly 100 ports across over 50 countries. This expansion enhances China’s economic leverage and influence over global trade routes.
The rise of China in maritime affairs reflects broader geopolitical shifts towards a multipolar world order. As tensions between China and the US intensify, China’s maritime dominance provides significant economic and strategic leverage. This expansion not only supports China’s economic objectives but also positions it as a key player in the evolving global balance of power.
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Source: Greek Reporter
