COSCO SHIPPING Retains Position as World's Largest Shipowner
UK-based consultancy Maritime Strategies International (MSI) recently released its latest shipowner rankings. The rankings are based on the deadweight tonnage of currently operating fleets (excluding orders, offshore assets, or cruise ships) and compare against the same period last year.
Measured by deadweight tonnage, COSCO SHIPPING retained its position as the world's largest shipowner. As of August 31, its fleet size has slightly increased to 76.2 million dwt. However, over the past year, Mediterranean Shipping Company (MSC), the world's largest container shipping operator, achieved the most remarkable leap: its operational fleet expanded significantly from 35.5 million dwt to 44.5 million dwt, surpassing Bank of Communications Financial Leasing to rank second.
MSC executed the largest fleet expansion over the past year. Meanwhile, several major Chinese leasing firms saw their rankings decline as substantial newbuilding orders failed to translate into operational vessels in a timely manner. Despite expanding its fleet to 41.4 million dwt, BOC Leasing slipped to third place. China Merchants Group and Japan's Mitsui O.S.K. Lines (MOL) jointly secured spots in the top five, with both companies achieving modest capacity increases.
One of the most notable changes was the rise of Belgian shipping firm CMB.TECH, which debuted at eighth place with 22.6 million dwt. This breakthrough was primarily driven by its acquisition of European dry bulk owner Golden Ocean Group. German liner giant Hapag-Lloyd entered the top 25 for the first time with 12.6 million dwt, leveraging its expanded container fleet. Taiwan's Evergreen Marine also climbed the rankings, rising from 25th to 19th place with 13.5 million dwt.
Other companies that improved their rankings include Japan's NYK and Nissen Kaiun, as well as Saudi Arabia's Bahri. South Korea's Pan Ocean, HMM, and Singapore's Berge Bulk all expanded their fleets by over 1 million dwt in the past year.
In contrast, Japan's Shoei Kisen and Iran's National Iranian Tanker Company (NITC) both fell out of the top 20. NITC dropped from 19th to 25th due to sanctions and asset disposals.
ICBC Financial Leasing slipped from 7th to 10th, with its fleet size shrinking from 24.3 million dwt to 19.9 million dwt. ICBC Financial Leasing also saw its ranking decline.
Additionally, companies including Frontline (owned by Norwegian shipping magnate John Fredriksen), Greece's Angelicoussis Group, Japan's K-Line, UK's Zodiac Maritime, and China Energy Transport (China VLCC) all experienced varying degrees of ranking decline.
Overall, China continues to lead the global shipping industry. Five Chinese companies—COSCO Shipping, China Merchants Group, ICBC Leasing, CNB Leasing, and China VLCC—all rank among the world's top 15 shipowners. Japan maintains significant influence through companies like Mitsui O.S.K. Lines, Nippon Yusen Kaisha, Kawasaki Kisen Kaisha, and Nisshin Shipping. Meanwhile, Greece's shipping sector continues to shine, with several established shipowners remaining active at the industry's forefront.