China’s maritime ambitions boosted, claims largest shipping fleet title from Greece
- Chinese-owned fleet reached 249.2 million gross tonnage, or 15.9 per cent of the market share, to edge ahead of Greece, according to Clarksons Research
- But efforts to become a major maritime power are set to be tested by challenges, including carbon emission reduction targets, analysts said
China has overtaken Greece as the owner of the largest shipping fleet in terms of gross tonnage, according to a report by a leading global industry information provider, as it steps up efforts to become a major maritime power.
The Chinese-owned fleet has reached 249.2 million gross tonnage, or 15.9 per cent of the market share, edging ahead of Greece’s 249 million gross tonnage and Japan’s 181 million gross tonnage, according to Clarksons Research on Friday.
South Korea and the United States ranked fourth globally at around 66 million GT, with Germany falling from fourth in 2013 to seventh, the report showed.
The results, together with China’s massive shipbuilding capacity and outstanding orders, would help consolidate Beijing’s lead in international trade, but would also bring challenges, including meeting carbon emission reduction targets, analysts said.
China has been more active in the new build market
“China has been more active in the new build market (it is now almost double the Greek-owned order book),” said Clarksons analyst Stephen Gordon.
“An increasingly active and professional finance sector has been helpful, with Chinese leasing playing a key role.”