On February 28, VesselsValue, a well-known ship data and evaluation company headquartered in London, released the latest value ranking of the world's top 10 ship-owning countries, according to VesselsValue statistics, as of February 2024, Japan relies on the advantage of having more LNG ships and other first-value ships, ranking first with a total value of 206.3 billion US dollars, China ranks second with 204 billion US dollars, and Greece ranks third. The total value of the ships owned is about $169.4 billion.
According to the statistics of VesselsValue, Japan ranks first by virtue of having more LNG ships and other first-value ships.
For many years, Japan has been recognized as the "king of the world's boats". This is mainly due to the fact that Japanese shipowners have more LNG carriers and continue to expand, adding 100 tankers in the past year alone. This is a testament to Japan's strong shipbuilding and operational capabilities. Japan's strong shipping industry was based on the rapid economic development after World War II. Demand for capacity was driven by high export growth**, and Japanese shipping companies quickly seized the opportunity to invest heavily in ship construction and operations. To this day, the three major shipping companies, NYK, MOL and Kawasaki Kisen, are still among the best in the world.
An LNG ship owned by NYK Shipping Co., Ltd.
China is also catching up at an alarming pace. According to VesselsValue, the total asset value of China's merchant fleet has reached $204 billion in 2022, second only to Japan. This is due to the rapid growth of China's economy for more than 30 years, and the import and export demand of a large number of raw materials and finished products has stimulated the rapid development of the maritime industry. Unlike Japan, China's fleet expansion is largely dependent on new builds. For example, in the past 10 years, China has added nearly 3,000 new bulk carriers, accounting for nearly half of the world's new growth. China has also introduced various policies to support private enterprises to develop the shipping industry. This has led to the rapid rise of private enterprises such as COSCO and China Shipping and has become a world-class shipping company.
As the world's largest shipbuilder and importer of natural gas, China is building and buying more and more LNG carriers.
The jury has not yet been made who is the real "king of the world's ships". According to the statistics of Clarkson, a well-known shipping consulting company, as early as August last year, the total value of merchant ships owned by China had actually surpassed Japan to rank first. This is mainly due to differences in assessment methods.
According to Clarkson's statistics, as early as August last year, the total value of merchant ships owned by China had actually surpassed Japan to rank first.
The total value of ships is only one aspect of the competition between China and Japan in the shipping industry, and whoever can achieve an advantage in fleet size and operational efficiency between China and Japan in the future is more likely to become the real leader in the shipping industry. The battle for the title of "World Ship King" will continue.