China has moved up from 2nd in January to 1st place this time, proudly owning a complete of USD 191 bn in property.

China owns the most important variety of Containers and, consequently, the latest surge in charges and values has moved them up the ranks to high spot when it comes to fleet worth. The rise in charges has additionally prompted an ordering spree throughout the Container sector, as house owners’ confidence out there exploded. A complete of 516 Containers have been ordered since January 2021, 46% of those orders had been positioned by Chinese language firms together with OOCL, SITC and COSCO Transport.

We have now seen a major improve in Bulker charges because the starting of the 12 months with the Capesize 54-TCA rising from 16,656 USD/Day on the first Jan to a peak of 86,953 USD/Day on the seventh October, a rise of 420%. This has practically doubled the entire worth of China’s Bulker fleet over the previous 10 months from USD 28 bn to USD 53 bn.

Japan has fallen from 1st to 2nd place, proudly owning a complete of USD 187 bn in property. This is a rise of over USD 70 bn since January 2021, highlighting the booming Bulker, LPG, and Automobile Provider markets. Out of the highest 10 nations, Japan owns the very best worth LPG fleet at USD 7.4 bn. Earnings and gross sales have precipitated a rise within the complete fleet worth by USD 1.6 bn since January.

The entire worth of Automobile Carriers underneath Japanese possession quantities to a staggering USD 13.4 bn, a rise of USD 6.1 bn in comparison with earlier within the 12 months. This improve has been attributable to the main Japanese firms MOL, NYK Line and Ok Line ordering 26 newbuilds because the starting of the 12 months. Japanese shipyards have raised their tariffs to USD 100 mil for a twin gas LNG, 7,000 CEU Automobile Provider, up a staggering USD 10 mil in comparison with final 12 months.

Greece has bumped its method as much as third place within the rankings since January this 12 months. Their complete worth elevated from USD 93.2 bn in the beginning of the 12 months to USD 145 bn. Greece is the most important Tanker proprietor and though earnings have been lingering at document lows, now we have seen will increase to identify charges which have introduced up values for your entire fleet. Newbuilding values, and therefore resale values, have elevated between 20-30% throughout VLCCs, Suezmaxes and Aframaxes because the starting of the 12 months.

Greece can be the proprietor of essentially the most worthwhile LNG fleet. With present spot charges hovering, the worth of their fleet has elevated by USD 2 bn because the starting of the 12 months.

Greece’s Bulker fleet has virtually doubled in worth from USD 28 bn to USD 53 bn, because of the excessive charges. The Greeks stay lively within the S&P market accounting for a few quarter of the Bulkers purchased up to now this 12 months.

The USA has fallen to 4th place since January this 12 months with a complete of USD 96 bn in property.

USD 56 bn of this comprised of Cruise ships which come as no shock as the most important Cruise firms, Carnival and Royal Caribbean, are each based mostly within the USA. Regardless of the onslaught the business has skilled as a result of COVID-19 pandemic, the USA nonetheless maintain their place as the most important international Cruise proprietor regardless of their fleet worth reducing by a complete of USD 7 bn because the starting of the 12 months.

The US are additionally outstanding house owners within the RoRo sector proudly owning a complete of USD 2.1 bn, the place the market has seen a rise in worth of USD 1.2 bn from January.

Singapore has remained at fifth place since January this 12 months with comparable good points within the Bulker and Container sector as different nations. Their investments within the Container sector adopted the worldwide surge, rising their fleet worth from USD 10 bn to USD 25 bn.

For the reason that starting of the 12 months, firms like OM Maritime and X-Press Feeders have capitalised on the roaring market and positioned orders in smaller tonnages akin to 2,700 and 1,800 TEU Containers.

In secondhand tonnage, one explicit benchmark sale that came about was the RDO Live performance (6,969 TEU, Dec 2009, Hyundai HI) which was offered to OM Maritime from D Oltmann Reederei for USD 110 mil, the very best worth paid for a 2009 constructed Submit-Panamax Container since 2007.

Germany has remained in sixth place proudly owning a complete of USD 76.8 bn. A big a part of their fleet has all the time been comprised of Containers and, consequently, the large Container increase has led to the German fleet’s worth rising by USD 34 bn because the starting of the 12 months.

Their investments within the Small Dry sector are additionally being rewarded. The entire fleet worth has elevated by USD 1 bn since January as charges have elevated by means of the 12 months.

South Korea
South Korea moved as much as seventh place since January this 12 months, overtaking the UK. Their complete fleet worth now stands at USD 58 bn, a rise of 24 bn because the starting of the 12 months.

South Korea’s investments within the LNG and LPG sectors are lastly paying off with values doubling because the starting of the 12 months. With LNG costs peaking within the second half of 2021, the fleet values have doubled for South Korea’s gasoline sector. Hyundai LNG, Pan Ocean and H Line have ordered 15 Giant LNG carriers this 12 months, with the latest order at USD 200 mil, a rise of USD 20 mil on newbuild values.

South Korea nonetheless maintains a dominant place as a worldwide seaborne automobile exporter. Main shipowners/operators are Glovis, who’ve expanded the PCTC fleet lately, and Eukor, with 20% of shares owned by Hyundai Glovis and Kia Motors. The excessive quantity of automobile manufacturing and seaborne exports makes South Korea the third largest proprietor of Automobile Carriers.

The UK fell to eighth place proudly owning a complete of USD 54 bn in property. Their complete fleet worth has elevated by USD 15 bn because the starting of the 12 months with most good points seen within the booming Bulker and Container sectors.

The Containership market has been underneath immense stress over the past 12 months; COVID-19 associated pent up demand pushing shopper spending, unhealthy climate in China and COVID-19 associated terminal lockdowns contributing to excessive port congestion. Nevertheless, we are actually seeing international provide chain points and port congestions threatening Christmas deliveries in elements of the UK. Felixstowe, one of many UK’s main Container ports, report congestion constructing as a extreme scarcity of truck drivers means Containers are piling up in port storage yards. That is making it more and more troublesome to unload Containers and re-load empty Containers to be despatched again to Asia. This might trigger charges to extend much more throughout the sector and improve values additional.

Taiwan, China
Taiwan, China has made a brand new look within the high 10 rankings as their investments in Bulkers and Containers come to fruition. Their complete fleet worth is USD 47 bn, with USD 32 bn from their Container fleet alone. Firms like TS Strains, Wan Hai Strains and Evergreen have positioned a complete of 107 orders up to now this 12 months, 1/fifth of the entire orders positioned.

Norway has fallen another place to tenth since January this 12 months, pushed largely by the lower in worth of the Offshore fleet. Lots of Norway’s investments are within the MODU sector, in order oil majors aggressively minimize CAPEX, MODU contracts are terminated, suspended, or delayed. Offshore values throughout all ages and kinds had been affected. Main MODU house owners akin to Borr Drilling have had their fleet lose half a billion in worth.
Supply: VesselsValue