China takes lead over Greece in eet gross tonnage

LONDON: Greece’s decade-long lead as the largest shipowning nation, measured in gross tons (gt), has come to an end as China takes over pole position. The Mediterranean country is still ahead, however, in deadweight terms. The rankings have been released in the latest World Fleet Register from Clarksons Research.

As the largest cross-trading nation, Greek shipowners overtook Japan in

2013 and have held number one slot for the last decade. China overtook Japan in 2018, according to the Clarksons’ analysis.

The research outfit estimates the gross tonnage of China’s fleet at 249.2 million gt compared with Greece’s 249 million gt. But the value of the Chinese fleet – estimated at $180 billion – is significantly more than the Greek fleet, at $163 billion.

The two leaders are followed by Japan at 181 million gt, South Korea –66 million gt, and the US, also at 66 million gt Over the last decade, Germany has slippedfromfourthplacetoseventh

However, the Chinese fleet does not match its trade figures. The country’s 15.9% market share in ship ownership is well below its trade strength, Clarksons said. China accounts for 22% of global imports and 33% of container exports.