Finance of the Chinese Fleet Build Up

by Yanni V. Bousnakis

In many ways, the Chinese shipowning group resembles the Greek shipowning group which, with 1,883 vessels, represents the largest shipowning group in the world. Both tend to be dominated by family-run businesses where relationships have developed over time and outsiders are often looked upon with a certain amount of distrust. Trade secrets are guarded assiduously because competition is fierce and interference can be damaging.

In fact, China’s shipowning companies own a total of 685 vessels, representing 19.3 million dwt and, along with US shipowning companies with a fleet of 687 vessels, is tied for second place as the world’s largest shipowning national group. With regard to deadweight tonnage, Chinese companies fall to sixth place, generally due to their ownership of smaller-sized vessels. The average size for Chinese vessels is 28,166 dwt, and it is the smallest among the countries listed in the top 10 in terms of fleet size.

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