China has overtaken Japan to become the No. 1 ship owning nation with assets of over $191 billion.
China overtakes Japan to become No 1 ship owning nation
China has overtaken Japan to become the No. 1 ship owning nation with assets of over $191 billion.
“China owns the largest number of containers and, consequently, the recent surge in rates and values has moved them up the ranks to top spot in terms of fleet value,” VesselsValue, a leading online valuation and market intelligence provider for the aviation and maritime industries, said in its latest report.
“The increase in rates has also prompted an ordering spree across the container sector, as owners’ confidence in the market exploded. A total of 516 containers have been ordered since January 2021, and 46 percent of these orders were placed by Chinese companies including OOCL, SITC and COSCO Shipping.”
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