Greek and Chinese companies own 34% of the global fleet’s cargo capacit

“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 61 million tonnes. ”The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes.”says Niels Rasmussen, Chief Shipping Analyst at BIMCO.

Although consolidation has been significant within the container shipping segment, the overall shipping market is still very fragmented, and the average shipping company only owns a few ships. Over time, key shipping nations have, however, emerged. Some have since lost importance due to shifts in global trade, but Greece has remained the world’s foremost shipping nation.

More recently, China’s importance as a shipping nation has grown and Chinese shipowners now jointly control the world’s largest merchant fleet. The country also currently owns the second largest fleet of cargo carrying ships.

“Measured by cargo capacity, Greek shipowners control the world’s largest fleet of cargo carrying ships. In total, they control 19% of the cargo carrying capacity and maintain a particularly high share within the dry bulk, tanker, and gas carrier sectors,” says Rasmussen.

The focus of Chinese shipowners has been slightly different. They control a smaller share of tankers and gas carriers but a higher share of the general cargo and container fleets, with COSCO Shipping contributing to the higher share of the container fleet.

The entry of Chinese financial institutions into the leasing market has significantly contributed to the growth of the Chinese owned fleet in recent years, and five out of the 10 largest Chinese shipowners are leasing institutions. Combined, the ten largest shipowners control

Source: BIMCO