Eastern Pacific Shipping (EPS) remains Singapore’s top shipowner in both value and the number of ships it owns, according to research specially compiled for Singapore Maritime Week.

The Idan Ofer-controlled company’s fleet is valued at $8.36bn as of April, according to online valuations platform VesselsValue.

AET, the tanker arm of Malaysian shipping giant MISC Berhad, is a distant second in valuation terms with a fleet worth $3.64bn. CMA CGM's Singapore liner subsidiary, APL, is third with a fleet valuation of $2.21bn.

The top five is rounded out by Berge Bulk in fourth place with a fleet worth $2.14bn and Grace Ocean Investment in fifth spot with a fleet valued at $2.13bn.

EPS also heads the top five Singapore shipowners by number of vessels with a fleet of 123 ships, according to the VesselsValue data.

Despite a recent raft of vessel sales, Xihe Group is said to remain the second-largest Singaporean shipowner with 100 ships still in its fleet.

Cyril Ducau-led Eastern Pacific Shipping has a fleet of 123 ships worth $8.36bn, making it Singapore's largest shipowner, according to VesselsValue. Photo: Fredrik Ekren

Tied for third place with 80 vessels each are recently restructured Pacific International Lines (PIL) and product tanker specialist Hafnia. Miclyn Express Offshore rounds out the top five with a fleet of 77 vessels.

The top five Singapore shipowners have fleets worth a combined total of $18.5bn. While the city-state's top five shipowners control a combined fleet of 461 ships.

Singapore is said to be the fifth-largest shipowning nation behind Japan, China, Greece and the US in valuation terms with a fleet worth $58.57bn, and the fourth-largest in terms of vessels owned with a fleet of 3,025 ships.

The top 10 nations — which also include Germany, the UK, South Korea, Norway and Switzerland — control 29,956 ships worth a total of $717.2bn.

Tankers make up the largest segment among the Singaporean-owned fleet by vessel type with 1,074 ships worth a total of $17.54bn, according to the VesselsValue data.

Most valuable ship

The 20,388-teu Ever Gifted (built 2018) is said to be worth $173.19m. Photo: Uwe Benn/MarineTraffic

Dry bulk is in second place in terms of fleet value at $14.29bn, but only with the third-highest number of vessels at 706 ships. The offshore fleet has 707 vessels but is worth only $5.47bn.

Singapore-owned containerships are the third-largest fleet segment and are valued at $13.83bn. It comprises a total of 331 vessels.

The most valuable individual ship owned by a Singaporean company is an ultra-large containership owned by Grace Ocean Investment. The ship, the 20,388-teu Ever Gifted (built 2018), is said to be worth $173.19m.

The next highest value segment is LPG, with a fleet worth $5.19bn made up of 136 ships. The Singapore-owned ro-ro fleet is worth $1.15bn and consists of 34 vessels.

The nine Singaporean-owned LNG carriers are worth $560m, while 27 vehicle carriers stack up to $530m.

In terms of propulsion plants, a total of 64 ships in the Singapore-owned fleet are LNG ready and worth an estimated $5.75bn, according to VesselsValue.

These comprise 24 vessels in operation, or less than 1% of the 2,826 ships in service, while the other 40 are vessels on order out of a total of 199 ships on contracted by Singaporean owners.