Report: Top Shipping Countries In The World, 2021

Some countries are leaders in the shipping industry. In Europe for example, Greece and Germany have impressive shipping fleets while globally China is one of the strongest naval states in the world.

1. Greece: Greece has a long history with the shipping sector. Greece though a small nation is one of the strongest and most important naval states in the world and its merchant shipping, together with tourism, are the pillars of the national economy. For a number of years, the Greek-owned fleet holds first place in the world. The country’s total deadweight tonnage is 364 million while Greece’s percentage concerning global carrying capacity is almost 18%, according to recent data. Some of the most known shipping families are the Angelicoussis, Niarchos, Vernicos, Vardinogiannis, Martinos, and Latsis.
2. Japan: Next on the list is Japan. The country’s total deadweight tonnage is 233 million while Japan’s percentage concerning global carrying capacity is almost 12%. From April 2020 till now Japanese shipbuilding firms received many export orders for new ships due to strong demand for cargo ships and oil tankers. The pandemic increased the demand for container ships that transport goods. Ocean Network Express is the biggest carrier in Japan, jointly owned by the Japanese shipping companies Nippon Yusen Kaisha, Mitsui O.S.K. Lines, and K Line. The company was founded in 2017.
3. China: China is the 3rd country on the list with the top 10 leaders in the shipping industry. The country’s total deadweight tonnage is 229 million while China’s percentage concerning global carrying capacity is almost 11%. The Port of Shanghai is the most important gateway for foreign trade in the country. In fact, Shanghai is one of only 4 port cities in the world to be categorized as a large-port megacity, due to its high volumes of port traffic and large urban population. Furthermore, everyone knows Cosco, a Beijing-based multinational company and one of the largest shipping companies in the world. Cosco owns and operates over 130 ships. The Cosco group of companies includes 6 companies listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange and has over 300 subsidiaries both locally and abroad.
4. Singapore: Singapore’s fleet is impressive. The country’s total deadweight tonnage is 137 million while Singapore’s percentage concerning global carrying capacity is almost 7%. Singapore has more than 5.000 shipping companies. The country is connected to more than 600 ports in over 120 countries.
5. Hong Kong: Hong Kong’s total deadweight tonnage is 101 million which is equivalent to 5% of global carrying capacity. Hong Kong set a record in its container throughput in 2007 by handling 23.9 million TEUs. Thus, maintained its status as the largest container port serving southern China and one of the busiest ports in the world.
6. Germany: The German shipping industry generates an annual turnover of more than 50 billion euros. Germany’s total deadweight tonnage is 89 million which is equivalent to almost 4% of global carrying capacity. The German shipbuilding industry is also one of the largest in Europe. For example, A.P. Moller – Maersk is a container logistics company and member of the A.P. Moller Group which operates in 130 countries.
7. South Korea: South Korea comes at the 7th place on the list. South Korea’s total deadweight tonnage is 80 million which is equivalent to almost 4% of global carrying capacity. South Korea early this year was at the top globally as far as shipbuilding orders are concerned.
8. Norway: Norway is another country that has a long maritime history. In fact, for over 150 years Norwegian shipping has been a major player on the world’s oceans. Norway ranked 8th on the list with the top 10 countries-leaders in the shipping industry. Norway’s total deadweight tonnage is 64 million which is equivalent to almost 3% of global carrying capacity.
9. Bermuda: Bermuda’s total deadweight tonnage is 60 million which is equivalent to almost 3% of global carrying capacity. Living standards in Bermuda are high and as of 2019, Bermuda has the 6th highest GDP per capita in the world. The Department of Maritime Administration in Bermuda has more than 160 commercial vessels registered.
10. United States: The United States ranks 10th in the list with top countries-leaders in the shipping industry. The country’s total deadweight tonnage is 57 million which is equivalent to almost 2,8% of global carrying capacity.

DRIVERS OF COMPETITIVENESS

• Strategic location
• Favorable political framework
• Proximity to large, demanding customers
• Local rivalry
• Large pool of talents
• Rich and open flow of knowledge and ideas
• Relationships built on common trust
• A sound and predictable legal framework
• Soft location factors
• Specialized universities and research institutions
• Abundance of suppliers and service providers