Which countries owns the most number of ships? The answer may surprise you. VesselsValue.com has recent;y released a statistics on ‘The Top 10 ship owning countries of 2018’.
- Greece – $99,589
- Japan – $89,122
- China – $83,544
- USA – $46,961
- Singapore – $44,911
- Norway – $42,851
- Germany – $33,287
- UK – $28,122
- South Korea – $24,464
- Denmark – $23725
* All values in $USD million
Greece remains a dominant force in the global shipping industry. The current value of their owned fleet stands at almost exactly $100bn, putting the country at the top of the table. The value is concentrated in the Tanker ($36bn), Bulker ($35.75bn), and LNG ($13.5) vessel types. Hellenic control of these markets stands at about 19% of the total worth of the fleets.
Japan is the second-most dominant force in the global shipping industry. Japan has a good number of dry bulk careers and LNG-run vessels. Out of $89 billion vessel value, $35 billion is reported by dry bulks and near $14 billion is accounted for LNG vessels.
China, being the factory of the world has recorded massive success in the shipping industry. Not just in owning of the ships, most of the world’s largest box ships are being manufactured at China’s mega shipbuilding yards near Shanghai. With vessels worth $83 billions, China’s share of global ownership should continue to move upwards over the next decade across all markets.
The US shipping industry is protected by great domestic demand and regulations. Foreign flag vessels cannot move cargoes from one US port to another due to Jones Act restrictions. Out of $46 billion vessel value, tankers account for $17 billion vessel share. The US has the largest number of Offshore Supply Vessels worth $7 billion.
The total valuation of Singapore based owners is about $45bn, much lower than China’s $81bn stake. Singaporean ownership is spread more equally across market niches than many others. This reflects the diversity of trade which moves through the gateway to the far east.Singapore has moved up in the rankings, climbing from sixth place last year to their current position rounding out the top five.
Where does India stand?
More than 50% of world’s vessels make their last voyage to World’s largest ship-breaking yard in Alang, Gujarat. India has been a late entrant in the modern shipping industry. Seafarers of India and Indian origin have been a dominant manpower force in the global shipping industry. Although, India on the cusps of becoming a major ship owning nations. According to UNCTAD, India is ranked at 18th position with 22 million dwt. India owns 986 vessels with total vessel value at $6.9 billion. With heavy investments in Sagarmala and inland waterways, India’s ownership in ships is about to rise.
– Chaitanya Kulkarni