China overtakes Greece to become world's No.1 maritime fleet owner
Updated 14:40, 16-Aug-2023

China has overtaken Greece as the world's largest maritime fleet owner in terms of gross tonnage (GT). Greece held that position for a decade, but China's position as the world's manufacturing hub, its resilient cargo trade and strong financial support for the shipping sector propelled it to the head of the industry. The latest rankings from Clarksons Research showed that the Chinese-owned fleet stands at 249.2 million GT. Greece was second with 249 million GT and Japan third with 181 million GT. Experts said the rankings align with expectations, given China's continued status as a major production center and other positive factors. During the past several years, China's shipping industry has grown rapidly, especially in the dry bulk and container ship sectors. 

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