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China Has Climbed to The Top as Largest Shipowning Country

China has surpassed other nations to become the largest shipowning country in terms of gross tonnage, as per research conducted by a UK data provider.

Chinese shipowners now possess a fleet of 249.2 million GT, accounting for a 15.9% market share valued at $180 billion. Greek vessel owners, previously in the top spot, now hold second place with a fleet of 249 million GT, a 15.8% market share, and a value of $163 billion.

China’s dominance is attributed to its increased activity in the newbuild market, with an order book almost double that of Greek-owned vessels and its involvement in Sale & Purchase (S&P) transactions.

Japan follows closely behind with a fleet of 181 million GT, while South Korea and the United States round out the top five with approximately 66 million GT each.

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