SIMIC

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. China now owns the second-largest fleet of cargo-carrying ships behind Greece, which controls 19 per cent of total capacity, according to BIMCO,



Together, Greek and Chinese shipping companies contribute 34 per cent 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 per cent larger than that of Greece, indicating potential faster growth in the Chinese fleet in the years ahead, reports gCaptain, Ventura, California.



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 per cent and 260 per cent, respectively, according to BIMCO.