Greece Maintains Top Position in Global Shipping Fleet Despite Slight Share Decline

The Greek-owned shipping fleet remains the largest in the world, comprising 4,992 vessels with a total carrying capacity of 394,977,181 deadweight tons (dwt), holding a 16.9% share of the global market.

The Chinese fleet, which includes 6,600 ships and a capacity of 309,870,897 dwt, is in second place, accounting for 13.3% of the global share. Both Greece and China experienced slight declines in their fleet shares compared to 2023, with Greece down from 17.4% and China down from 13.4%.

According to a report by UNCTAD, the Greek fleet continues to expand and modernize, focusing on energy efficiency and the latest environmental technologies. The Union of Greek Shipowners (UGS) noted that Greece boasts the largest fleet worldwide capable of utilizing alternative fuels.

Japan (10.4%), Singapore (6.3%), and Hong Kong (5.8%) are also among the top five countries with the largest shipping fleets.

As of early 2024, the global fleet comprised approximately 109,000 vessels, including cargo and non-cargo ships of 100 gross tons (gt) and above. The total carrying capacity of this fleet reached around 2.4 billion dwt, with bulk carriers making up 42.7% and tankers 28.3%.

UNCTAD has warned that a downward trend in global trade poses significant risks to medium-term forecasts, exacerbated by geopolitical conflicts and climate-related impacts, such as the Houthi attacks in the Red Sea and drought conditions affecting the Panama Canal.

SOURCE: Seatrade Maritime