This report updates the ranking of the top 10 shipowning nations based on the total asset value of their fleets, including both existing and ordered vessels. Key findings include China surpassing Japan as the leading shipowning nation with a fleet valued at USD 255 billion, and Switzerland’s notable entry into the top 10 with a fleet valued at USD 68 billion. These findings indicate significant shifts in asset values and ownership dynamics within the global shipping industry, according to Vessels Value.
The Top 10
- China Dominates:
China retains the top spot in terms of both vessel numbers and fleet value, surpassing Japan. The strong performance of the Bulker and Container sectors, particularly the rise in values for 20-year-old Capesizes and Handy Containers, contributed significantly to this achievement.
- Japan’s Continued Strength:
Despite falling to second place, Japan’s fleet value increased by 12% to USD 231.3 billion. Significant investment in the Bulker sector and a strong presence in sectors like LNG, LPG, Reefers, and Vehicle Carriers contribute to Japan’s position.
- Greece Maintains Third Position:
Greece retains third place, with a strong Tanker fleet exceeding China’s in value. The geopolitical landscape, including the Red Sea conflict and Russian sanctions, has boosted Tanker demand and values, benefiting the Greek fleet.
- U.S. Dominates Cruise Shipping:
The U.S. maintains fourth position, with a fleet value of USD 116.4 billion. The Cruise sector, led by Carnival and Royal Caribbean, remains the most valuable asset for the U.S. fleet.
- Singapore’s Rise:
Singapore retains fifth place, with a fleet value of USD 107.2 billion. The strong LPG market has significantly boosted the value of Singapore’s LPG fleet.
- South Korea’s Continued Investment:
South Korea maintains sixth place, with a fleet value of USD 69.6 billion. Continued investment in the LNG sector and shipbuilding, including recent orders for LCTC vessels, contributes to its position.
- UK’s Ascent:
The UK has moved up to seventh place, driven by strong performance in the Tanker and Container sectors. The Cruise sector remains a significant contributor to the UK’s fleet value.
- Norway’s Energy Focus:
Norway ranks eighth, with a strong focus on energy sectors like LNG, LPG, and Tankers. The value of the Norwegian fleet has increased significantly due to investments in these areas.
- Switzerland’s Re-entry:
Switzerland re-enters the top 10, driven by strong Container sector performance and significant investments by MSC, including a large order for newbuild vessels.
- Germany’s Growth:
Germany maintains its position in the top 10, with a significant increase in fleet value, driven by strong performance in the Container sector.
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Source: Vessels Value
