Yangshan Port, located south of Shanghai, China. Photo: Patrick Foto/Shutterstock.com
Greek and Chinese shipping companies now collectively own one-third of the cargo carrying capacity of the global fleet, according to BIMCO.
While Greece has maintained its position as the world’s leading shipping nation, China has emerged as a major shipping nation. According to BIMCO, China now owns the second-largest fleet of cargo-carrying ships behind Greece, which controls 19% of total capacity.
Together, Greek and Chinese shipping companies contribute 34% of the total fleet’s deadweight tonne capacity.
BIMCO says the entry of Chinese financial institutions into the leasing market has contributed to the growth of the Chinese-owned fleet, with five out of the top 10 Chinese shipowners being leasing institutions.
BIMCO also notes that China’s orderbook is 21% larger than that of Greece, indicating potential faster growth in the Chinese fleet in the years ahead.
Looking by sector, Greece has a significant presence in the dry bulk, tanker, and gas carrier sectors, while Chinese shipowners have a larger share in the general cargo and container fleets thanks to Chinese state-owned COSCO Shipping. However, Chinese and Greek shipowners both have a strong focus on LNG carriers and Pure Car Carriers (PCC), with Chinese owners holding the largest orderbooks, exceeding their existing fleet by 126% and 260%, respectively, according to BIMCO.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 109,890 members that receive our newsletter.
Have a news tip? Let us know.
A potential East Coast and Gulf Coast port strike looming in January, coupled with President-elect Trump’s planned tariff increases, is seen driving volume growth in U.S. container ports through early...
The early months of 2025 will present unique challenges and opportunities for the shipping industry. The Lunar New Year, beginning January 29, 2025, is expected to impact global shipping patterns,...
MAN Energy Solutions has completed the world’s first retrofit of a Very Large Container Vessel (VLCV) to enable green methanol operation. The Maersk Halifax, a 15,000 TEU containership, underwent an...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 109,890 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
