The shipping industry sailed through difficult times during 2016, and today we take a look at how these conditions influenced the shipowners through an infographic showing the top 10 shipowning nations by value (USD million), provided by VesselsValue.
Greek owners retain their top spot but in the cargo sectors have lost nearly 12% of their fleet value. The Japanese come even closer to stealing the lead falling less than 1% in value. In the sixth place and down from the fourth, the German cargo fleet has lost close to 30% of its value attributable mainly to the depressed container market.
Bulkers have had a deceptively good 2016 following record lows at the start of the year. The top three bulker owning nations, Greece, Japan and China, have seen their fleets rise by over USD 4 billion each. This growth has been supported by strong acquisition following some of the lowest asset prices seen since the 1980s.
The German container fleet shrunk by nearly USD 11 billion throughout 2016 after large losses in the sector. The largest softening was experienced in the Panamax and Post-Panamax sectors with some vessels losing up to 60% of their value. German losses are fuelled by this as 59% of their fleet consists of the two mentioned types of ships.
Greek tanker owners started 2016 earning more than USD 10,000 per day on their vessels. However, the rest of the year has been predominantly bearish. By the end of 2016 the Greek fleet has shrunk by close to USD 11 billion. Coming in second was the USA whose fleet lost USD 4 billion, less than half of the Greek losses.
Infographic Courtesy: VesselsValue