Based on a robust y-o-y fleet growth of 14.1 %, China has topped Japan for the first time and is now the second-largest ship-owning nation, controlling a fleet of more than 5,600 vessels, totalling a capacity of 270 million dwt.
In early 2019, Greece remains the largest owner country with a share of 20.4 % in terms of dwt, now followed by China (14.5 %) and Japan (13.0 %). Together these three countries control almost half of the world merchant fleet’s tonnage. At the company level, China COSCO Shipping is by far the largest shipping company in the world. The company was formed by a merger of the COSCO Group and the China Shipping Group in 2016 and controls a fleet of over 800 merchant vessels of a combined 74.5 million dwt.
While most owners have registered the majority of their fleet under foreign flags, China stands out as one of countries with a high share registered under national flag (particularly when including the Hong Kong register).
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