Top 10 shipowning nations by total asset value in 2026
The 2026 rankings of the world’s leading shipowning nations, based on total asset value, reveal the significant impact of container shipping on fleet growth and the shifting global maritime landscape. A recent report by Veson Nautical, as covered by VesselsValue, indicates that container vessels, both currently in operation and on order, are instrumental in reshaping the top 10. This influence is driven by substantial fleet expansions, rising asset values for older tonnage, and ambitious newbuilding programs, particularly in the ultra-large and New Panamax segments.
China Continues Its Dominance, Fueled by Container and Bulker Assets
China reaffirms its position as the world’s foremost shipowning nation, with a total fleet asset value of USD 291 billion across 9,375 vessels. Container shipping is a cornerstone of this leadership. China boasts the most valuable container fleet globally, benefiting from increasing asset prices throughout the sector. Notably, older container vessels have experienced significant appreciation, with 15-year-old Sub-Panamax ships (approximately 2,500 TEU) showing a year-on-year gain of over 18%. This recovery in asset value further solidifies China’s leading status in both vessel numbers and capital valuation.
Japan and Greece Maintain Their Positions
Japan remains in second place with a fleet valued at USD 233 billion, its strength derived from its considerable holdings in Container, LNG, and Bulker vessels. Greece, holding the third position, continues to be a global leader in tanker values, with container shipping contributing only marginally to its overall standing.
United States Fortifies Fourth Place Through Cruise Sector Growth
The United States secures its fourth-place ranking among global shipowning nations, with a total fleet value of USD 141 billion, an increase of over USD 25 billion from the previous year. The nation’s maritime asset base remains predominantly driven by the cruise sector, which accounts for USD 79 billion in value—a year-on-year increase of approximately 34%. This growth underscores the U.S.’s continued global leadership in cruise shipping.
Singapore and Switzerland Experience Asset Growth Driven by Scale and Container Expansion
Singapore has maintained its place within the top five shipowning nations, experiencing a year-on-year increase of more than USD 34 billion in its total fleet value, reaching USD 141 billion. This growth is supported by a large and diversified fleet of 3,359 vessels. While its strengths lie in the LPG and offshore segments, Singapore continues to benefit from broad-based asset appreciation across various sectors.
Switzerland, meanwhile, has emerged as a significant riser in the rankings, climbing to sixth place with a fleet value of USD 83 billion. This substantial increase is primarily attributed to the container sector, driven by MSC’s aggressive secondhand vessel acquisitions and a robust orderbook for ultra-large and New Panamax container vessels. These newbuilds, contracted at Chinese shipyards, are slated for delivery between 2027 and 2030.
Container Vessels Propel Hong Kong’s Return to the Top 10
Hong Kong has re-entered the top 10, securing seventh place with a total fleet value of USD 78 billion. Container vessels form the core of its fleet, representing USD 32.5 billion in asset value, followed by bulk carriers at USD 15.3 billion and tankers at USD 13.7 billion. Hong Kong also maintains a strong presence in the LNG sector, with its LNG fleet assets valued at USD 6.9 billion, ranking fifth globally in this category.
South Korea Holds Eighth Place, Anchored by LNG and Vehicle Carrier Strength
South Korea has moved down two positions to eighth place, although its total fleet value remains stable at USD 69 billion. The nation continues to leverage its significant exposure to LNG shipping, ranking fourth globally with a fleet value of USD 13 billion, despite a year-on-year decline. South Korea also remains a major owner of vehicle carriers, with assets valued at USD 6 billion. The recent acquisition of approximately 35 VLCCs by Sinokor is anticipated to add around USD 2.8 billion to its fleet value upon completion of ownership transfers, though this is not expected to impact current rankings.
Germany Remains a Container Specialist Despite Moderate Asset Values
Germany has advanced one position to ninth place, maintaining its long-standing focus on container shipping. German owners command the world’s second-largest container fleet by vessel count, totaling 586 ships. However, in terms of value, its container fleet ranks sixth globally, with assets valued at USD 29 billion. This reflects Germany’s strategic emphasis on ownership scale rather than prioritizing ultra-large or exceptionally high-value tonnage.
Taiwan Enters Top 10 with a Modern, High-Value Container Fleet
Taiwan rounds out the top 10 with a total fleet value of USD 63 billion across 1,297 vessels, displacing Norway from the rankings. Container shipping is pivotal to Taiwan’s position; its container fleet ranks third globally by value, despite being sixth by vessel count. This disparity highlights Taiwan’s ownership of a modern, high-capacity fleet. In 2025 alone, Taiwanese owners placed orders for 63 container vessels, including 25 New Panamax and ULCV units by Evergreen Marine, scheduled for delivery between 2027 and 2029.