China Takes Over Japan To Lead World’s Most Valuable Shipping Fleet With $255 Bn

China has overtaken Japan to become the world’s top shipowning nation, with a total fleet value of $255 billion, according to recent data from VesselsValue.

China, which was already leading in terms of the number of vessels, now also owns the most valuable fleet. It holds the largest bulk carrier and container ship fleets, valued at $68.4 billion and $63.5 billion, respectively.

Geopolitical tensions in the Red Sea have forced vessels to reroute around the Cape of Good Hope to avoid attacks, increasing tonne-mile demand.

Older vessels have also seen value appreciation, with 20-year-old capesizes now worth $17.6 million, a 27% rise compared to last year.

Similarly, container ships of 1,750 TEU aged 20 years have seen a 172% increase in value, rising from $5…

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