Top 10 countries with the largest shipping fleets – Global maritime powerhouses

With a fleet value of $255 billion, China has the largest shipping fleet, just surpassing Japan. China has the largest bulk carrier fleet of $68.4 billion, container ships of $63.5 billion and $47.9 billion worth of Tankers. Its shipping fleet is majorly driven by a state-owned enterprise, COSCO ( China Ocean Shipping Company) and China Shipping Group.

Japan is in second position. The Vessel Value maritime data and valuation company values the Japanese fleet at $231.3 billion. The country is a leader in high-value, specialised vessels like LNG and LPG carriers, as well as car carriers.

Greece accounts for around 20 per cent of the merchant fleet, putting it at third place after Japan.

As of 2024, the US maintains its position at 4th. The combined valuation of the fleet is $116.4 billion. It has the largest cruise industry.

Singapore's overall fleet ranks fifth with an asset value of $107 billion as of early 2025. It has the world's second-largest Liquid Petroleum Gas fleet, worth around $14 billion. The country also holds the largest Offshore Support vessel, estimated at $4.4 billion. Diversification is the strength of Singapore's shipping fleet.

South Korea is also another giant in fleets, including significant investment in new and specialised vessels, particularly LNG tankers. Its fleet is worth $69.6 billion with almost $2billion growth. South Korean owners have fewer ships in terms of numbers compared to Germany, in 10th place. But they have high value, better quality and a significant investment that is coming in the maritime sector.

The UK moved one place up from 8th to 7th position with an asset value of $69.4 billion. Its cruise industry and maritime containers are the most valuable in the fleet.

Norway have fallen one place to 8th, with an asset value $68.4 billion. Its value is mostly driven by LPG, LNG and car carriers.

Re-entering the top ten, Switzerland's fleet value is $67.9 billion and primarily attributed to the continued expansion of its largest container ship operator, MSC.

Germany rounded out the top ten. But it has seen a decline in its overall ranking for the second consecutive year. It still remains a major owner of container ships, ranking fifth with an estimated value of $27.7 billion. Overall asset value stands at $59.44 billion.