On the supply side of shipping, worldwide flagging and ownership of vessels are both concentrated activities often located in different countries. Around 40% of the world fleet (expressed in terms of volume) is registered in three specialised countries: Panama, Liberia and the Marshall Islands, but these countries own less than 1% of the fleet. For Japan, South Korea and the USA, the opposite is the case, as they combine a substantial share in ownership with a low share in the flagging of the fleet (25% versus 5%). The EU and China both show a high share in ownership (32% and 13%) as well as in flagging (19% and 12%).
✅ Excerpt from the “EU Study on the Analysis and Evolution of International and EU Shipping”