China has overtaken Greece as the world’s largest maritime fleet owner in terms of gross tonnage (GT), global shipping information provider Clarksons Research said on Saturday.
Greece held that position for a decade, but China’s position as the world’s manufacturing hub, its resilient cargo trade and strong financial support for the shipping sector propelled it to the head of the industry, analysts said.
The latest rankings from Clarksons Research showed that the Chinese-owned fleet stands at 249.2 million GT. Greece was second with 249 million GT and Japan third with 181 million GT.
During the first half of 2023, Chinese shipyards completed 21.13 million deadweight tons (DWT) of new ships, up 14.2 percent year-on-year, the Ministry of Industry and Information Technology said in July.
New orders amounted to 37.67 million DWT, up 67.7 percent, and orders on hand stood at 123.77 million DWT, up 20.5 percent. All these indicators secured China’s top global rank.
Source: Global Times