In BIMCO’s “Shipping Number of the Week” analysis for the current week (ending April 25, 2025), Chief Shipping Analyst Niels Rasmussen focuses on the current size and composition of Japan’s merchant fleet.
Global Fleet Count
According to Niels Rasmussen, Chief Shipping Analyst at BIMCO, Japanese shipowners collectively control 12% of the global fleet’s deadweight tonnes (DWT) capacity. This positions Japan as the third largest shipowning country worldwide, and one of only three nations where shipowners manage more than 10% of the world’s total DWT capacity.
The global fleet, totaling 2.4 trillion DWT, is distributed among 16,622 shipowners across 178 countries. Within this landscape, Japan accounts for 604 owners, with fleet sizes ranging from a modest 115 DWT to a substantial 28.6 million DWT.
During Japan’s remarkable post-World War II economic expansion, the country’s international trade experienced parallel growth. Measured in USD, Japan held its position as the third largest merchandise exporter globally for three decades, spanning from the early 1970s to the early 2000s. Its exports reached a peak of 10% of global merchandise trade in 1986.
Over the same period, Japan consistently ranked as the world’s third largest merchandise importer, with imports peaking at 7% of global merchandise trade in 1974.
Rasmussen notes that while Japan’s share of both global merchandise exports and imports has since decreased to 3%, its shipowning fleet has maintained a strong presence on the global stage.
The three joint owners of Ocean Network Express (ONE) – MOL, NYK Line, and K Line – are arguably the most recognized Japanese shipping companies and remain the largest shipowners based in Tokyo. Combined with other Tokyo-based shipowners, they control 48% of the entire Japanese fleet, making Tokyo the fourth largest shipping city in the world.
Interestingly, the second largest shipping city in Japan is not one of the major metropolitan areas like Yokohama, Osaka, Nagoya, Sapporo, or Kobe. Instead, it is Imabari, a city located in the Ehime prefecture with a population of just 152,000. This highlights the significant concentration of shipowning activity in this smaller regional center.
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Source: BIMCO
