China has taken the lead overtaking Japan with an impressive fleet valued at $255bn. China ranks on top of 10 shipowning nations by total asset value, according to data from VesselsValue. The report highlights significant transformations in asset values and ownership dynamics over the past year. It is worth mentioning that the data is valid as of January 2025.
“The fact that China owns the most valuable bulker and container fleets at $68.4bn and $63.5bn respectively, has contributed to their leading status, particularly as values for both sectors have firmed over the last year,” according to senior content analyst Rebecca Galanopoulos.
China also owns the largest number of tankers, with a fleet of 1,764 vessels and a current fleet value amounting to $47.9bn.
Japan has fallen to second place this year, despite the total fleet increasing in value from $206.3bn in 2024 to 231.3 bn at the start of 2025—c. 12% year-on-year.
Significant investment has taken place in the bulker sector. Almost 60 vessels added to the fleet, and the firming in values for this sector would have in part contributed to the overall fleet value.
To put things in perspective, values for Bulkers hovered around 15-year highs throughout 2024.
Japan owns the largest fleets both in terms of value and size for the LNG sector, LPG vessels, reefers and vehicle carriers.
Greece has maintained third ranking once again, both by overall value and number of vessels within its fleet. While China owns more tankers, the value of the Greek tanker fleet is considerably higher at $71.3 bn, surpassing China by $23.3bn.
“Over the last few years, various geopolitical circumstances, such as the conflict in the Red Sea area and the ongoing Russian sanctions, have resulted in a boost to ton-mile demand,” according to Galanopoulos.
Greece also remains the owner of the second largest LNG fleet, with 143 vessels and a fleet value of $32.4bn.
The US came next on the list, then Singapore, South Korea, the UK and Norway.
Switzerland has reentered the top 10 this year with a fleet value of $68bn, this is largely due to the firming of the container values due to improved market sentiment, along side continued investment from MSC.
For the second consecutive year, Germany has experienced a decline in its global rankings, dropping from ninth to 10th place this year. Traditionally, a significant portion of the German fleet has consisted of container vessels as they hold the second position in terms of the number of vessels.
However, in monetary terms, the German fleet ranks fifth with a value of $27.7bn, which is a considerable uptick from the last report where the German fleet was valued at $17.8bn and represents an increase of approximately 55.6%.
