China is World’s Leading Shipowning Nation
China tops the list of the ten biggest shipowning nations globally, according to VesselsValue.
China has moved up from second in January to first place this time, owning a total of $191 bn in assets, reports World Maritime News..
November 2021 total fleet values include the vessel types covered by VesselsValue: bulker, tanker, container, reefer, small dry, LNG, LPG, vehicle carriers, RoRo, cruise, OSV, OCV, MODU and CTV.
China owns the largest number of containerships and, consequently, the recent surge in rates and values has moved them up the ranks to the top spot in terms of fleet value.
The increase in rates has also prompted an ordering spree across the container sector, as owners’ confidence in the market exploded. A total of 516 containerships have been ordered since January 2021, 46% of these orders were placed by Chinese companies including OOCL, SITC and COSCO Shipping.
“We have seen a significant increase in bulker rates since the beginning of the year with the Capesize 54-TCA increasing from 16,656 $/day on the 1st Jan to a peak of 86,953 $/day on the 7th October, an increase of 420%. This has nearly doubled the total value of China’s bulker fleet over the past 10 months from $28 bn to $53 bn,” VV said.
Japan
Japan has fallen from the first to the second place, owning a total of $187 bn in assets.
This is an increase of over $70 bn since January 2021, highlighting the booming bulker, LPG, and vehicle carrier markets.
Out of the top 10 nations, Japan owns the highest value LPG fleet at $7.4 bn.
Earnings and sales have caused an increase in the total fleet value by $1.6 bn since January. The total value of vehicle carriers under Japanese ownership amounts to a staggering $13.4 bn, an increase of $6.1 bn compared to earlier in the year.
This increase has been caused by the leading Japanese companies MOL, NYK Line and K Line ordering 26 newbuilds since the beginning of the year.
*Culled from the World Maritime News.
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