China Expands Lead as World’s Top Shipowning Nation

China is solidifying its position as the world's largest shipowning nation, pulling nearly 30 million gross tons (gt) ahead of Greece, according to the latest report from Clarksons Research.

China overtook Greece in August last year to claim the title of the world’s largest merchant fleet by gross tonnage. Since then, Chinese shipowners have consistently led in vessel acquisitions and have remained prominent clients of global shipyards.

Currently, China’s commercial fleet has reached 282.9 million gt, while Greece holds second place with 254 million gt. Additionally, Chinese shipowners have a significantly larger orderbook, totaling 46.7 million gt, compared to Greece’s 35.4 million gt.

So far this year, Chinese shipowners have purchased 496 secondhand vessels, vastly outpacing Greece, which has acquired 206 secondhand ships over the same period.

China’s rapid growth in shipownership is evident when looking at historical data. In the early 2000s, China-owned ships accounted for only about one-twentieth of the global merchant fleet. Today, that figure has risen to over one-seventh. Over the past decade alone, China’s merchant fleet capacity has more than doubled.

China’s dominance extends beyond shipownership. The country has overtaken South Korea to become the world’s leading shipbuilder, while its port operators have established a vast international presence. Additionally, China has become a key player in ship financing, further cementing its influence in the global shipping industry.