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 that these rankings aligned with expectations, given China’s continued status as a major production center and other positive factors.

Behind the leadership in fleet size lies the fact that China’s leading positions in the global economy and world trade remain resilient.

China’s consistent growth in importing dry bulk cargo and sustained high demand for containerized goods for export have propelled the rapid expansion of the country’s fleets in bulk cargo ships and containerships, the insider said.

Strong support from China’s financial sector has also supported the development of the shipping industry, particularly in terms of leasing companies.

While China’s maritime fleet construction has achieved remarkable results, there are still some shortcomings.

For example, although China holds the lead in terms of total tonnage, from the perspective of DWT, Greece still commands the largest share, Xu Kai, chief information officer of the Shanghai International Shipping Institute, adding that this could be primarily due to the higher proportion of containerships in China’s fleet.

According to the globaltimes