China Overtakes Greece As World’s Largest Shipowning Country For the First Time

China has surpassed Greece as the greatest ship-owner in the world for the first time in just one critical metric, cementing its strategic importance in transporting raw materials and goods globally.

China Overtakes Greece As World’s Largest Shipowning Country
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Firms in the world’s second-largest economy currently own more vessels based on gross tonnage — a key measure of capacity — than any other nation. Greece secured that title in 2013, per Clarkson Research Services Ltd., a unit associated with the largest shipbroker in the world.

China depends on raw materials imported from across the globe to satiate its commodity demand. It is simultaneously a significant exporter of finished items shipped globally in container vessels.

China’s owners are the largest in the bulk commodity and container shipping markets, per Clarkson in a report.

Even though China is now the biggest owner by gross tonnage, it keeps lagging behind Greece in deadweight tonnage, a more closely-tracked metric.

The former measures the internal volume of a ship, while the latter accounts for the weight of goods the vessels can carry.

References: ekathimerini, Hindustan Times, Ship and Bunker

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