Veson Nautical has published the latest top 10 shipowning nations rankings for 2026 revealing that China has retained the top spot both in terms of value and vessel numbers with the fleet worth an impressive $291bln which equates to 9,375 vessels.
Rebecca Galanopoulos, Veson senior content analyst said this year’s rankings see a significant movement with Switzerland climbing to sixth place following MSC’s expansion, whilst Hong Kong and Taiwan, China have entered the top 10, displacing Norway.
The US’ cruise sector and Singapore’s diversified fleet have driven particularly strong value growth over the past year.
China owns the most valuable fleets for bulkers, containers, and small dry vessels. All of these sectors have seen increases in asset values over the last year. It also owns the largest fleet of tankers, compiling 2,039 vessels and a current value of $56bln.
Japan has maintained its second place ranking this year with a fleet valued at $233bln, which is relatively unchanged from 2025 levels. It owns the largest fleets both in terms of value and volume for the following sectors: LNG, LPG, reefers, and vehicle carriers worth $34bln, $11bln, $2bln and $14bln respectively.
Greece has retained the third place once again both by total value and the number of vessels within its fleet. Although China owns more tankers, the value of the Greek tanker fleet is considerably higher at $77bln, surpassing China by $21bln. It has the second largest bulker fleet, totalling 2,561 vessels but ranks third in terms of value, surpassed by Japan with a fleet value of $68bln compared to $56m for Greece.
The US has remained in the fourth place with a total fleet value of $141bln, up by over $25bln from Veson Nautical’s last report.
The cruise sector remains the nation’s strongest maritime asset, representing $79bln, a considerable increase of c.34% from last year, maintaining the nation’s dominance in the cruise sector.
The US also owns the most valuable fleets for the MODU, OCV, OSV, and RoRo sectors which are valued at $16bln, $3bln, $12bln, and $3bln respectively.
Once again Singapore has retained its fifth place this year, rising by over $34bln from last year with a fleet value of $141bln. They are in fourth place in terms of vessels owned with a total of 3,359.
Singapore’s LPG, OCV, and OSV fleets are the second-most valuable globally worth $16bln, $1bln, and $5bln each.
Switzerland has moved up to sixth place this year after re-entering the top 10 in 2025 in ninth place. The total value of the Swiss fleet is at $83bln, up c.22% from last year, which is largely due to the continued buying spree of Swiss-based MSC.
Hong Kong, China enters the top 10 this year and is in seventh place with a fleet value of $78bln. The region has a well-diversified portfolio across multiple sectors with containers representing the largest component at $32.5bln, followed by bulkers at $15.3bln and tankers at $13.7bln. Hong Kong also maintains significant presence in the LNG sector with a fleet valued at $6.9bln, ranking fifth globally.
South Korea has fallen two places to rank eighth this year; however, the value of its fleet remains stable from last year at $69bln.
South Korea’s investment in the LNG sector continues to pay off with values for this sector remaining at high levels. They are in fourth position with a valuation of $13bln, a decrease of $4bln from last year. South Korea also remains a key global car exporter with a fleet value of $6bln.
Germany has moved up a place after experiencing a decline in its global rankings over the last few years. Traditionally, the German fleet is represented significantly by the container sector, currently holding the second position in terms of vessel numbers with a fleet of 586 container ships; however in monetary terms, the German fleet ranks sixth with a value of $29bln.
Taiwan, China enters the top 10 this year, displacing traditional maritime heavyweights such as Norway. The overall value of the fleet adds up to $63bln with a total of 1,297 vessels. The Taiwanese container fleet currently ranks third in monetary terms with a value of $46m but is in sixth place when ranked by the number of vessels, indicating a modern fleet.
