Asian shipowners have finally surpassed their European competitors to control the largest share of the global fleet, latest figures show.
They now represent 43% of global tonnage or 48,472 vessels of 637m gross tons against the 42% held by European owners who control a fleet of 30,610 vessels of 630m gross tons, according to Clarksons.
“For a long time, shipping market observers predicted that Asian owners would soon control the largest share of the global fleet, just as shipbuilding and trade had moved East,” the shipbroker said.
“Although this eventually materialised, European owners remain key players and held their lead longer than many expected, while recent growth rates remain similar.”
Clarksons said European owners historically held the largest share of the global fleet, owning 44% of gross tons at the turn of the century, with Asia-Pacific owners accounting for 32%.
“Supported by Asia’s growing share of global trade, which has driven significant newbuild investment in many countries, Asian owners have since grown their share,” the shipbroker said.
Chinese owners, unsurprisingly, have been key to growing Asian tonnage volumes, doubling their fleet in the past decade to 226m gross tons to hold a 15% global share, mainly through firm newbuild ordering.
In contrast, Japanese shipowners have grown more slowly with the fleet up 16% to 177m gross tons to give them a 12% global share.
Elsewhere, Clarksons said other Asian owner nations have also grown their fleets rapidly to now boast a combined market share of 16%.
In Europe, Greek shipping is said to have been “key to European owners’ continued growth” with a 70% increase in the past decade to 246m gross tons, or a 17% global share.
Clarksons said this helped to maintain the European share despite a sharp decline in the German-owned fleet, which is down 34% in the past decade to 62m gross tons.
The shipbroker said the shift in tonnage from Europe to Asia looks set to be “sustained for some time”, with just under half of the global orderbook, some 79m gross tons or 49% due to be delivered to Asia-Pacific owners, compared with the 53m gross tons or 33% for European owners.
“However, with European owners still growing their fleet, and a major renewal program ahead as part of the fueling transition, both regions clearly have a huge part to play as trends evolve.” Clarksons said.
