China overtakes Greece as largest shipowning country

China has climbed to the top of nations rankings as the largest shipowning country in terms of gross tonnage, according to information from UK data provider Clarksons Research.

The fleet of Chinese shipowners has now reached 249.2 million GT, holding a 15.9% market share with a fleet value of US$180 billion. On the other hand, the ships of Greek vessel owners, who fell to the second place, have reached 249 million GT with a 15.8% market share and a value of US$163 billion.

"China has been more active in the newbuild market (now almost double the Greek-owned orderbook) and more active in Sale & Purchase (S&P),” said Clarksons in its latest weekly report.

Japan follows the two traditional powerhouses of the global shipping industry with a fleet of 181 million GT. South Korea and the United States round out the top five, both with about 66 million GT.

Source: Container News.