Singapore ($49.97 billion) and Norway ($48.85 billion) both moved ahead of the U.S. to claim fourth and fifth, respectively.
China’s container fleet ($17.29 billion) remained the most valuable container fleet, but the country also saw the list’s largest drop in container value with a $2.5 billion decrease from 2018. Germany’s container fleet remained the second-most valuable at $16.42 billion despite a $1.7 billion decrease.
Singapore’s container fleet value surged to $10.15 billion from $5.38 billion in 2018, the largest container fleet value increase, and moved the nation from sixth to third in container value.
“The majority of their ($3.1 billion total fleet value) increase comes from their container growth, most notably attracting the Japanese container liner merger ONE to locate to Singapore,” reads the VesselsValue report.
Japan ($10.113 billion) fell just behind Singapore in container value. Denmark’s container market remained its strongest with a value $8.988 billion, which was fifth among countries on the top 10 list.
Greece, which had a $7.69 billion container fleet value, maintained its top spot in tanker value ($38.4 billion) and surpassed Japan for the top position in liquefied natural gas (LNG) value ($18.4 billion). Japan remained second in LNG value at $15.26 billion, which is about $9.5 billion more than China’s third-place $5.75 billion value.
The Japanese fleet was the most valuable in bulker ($40.78 billion), reefer ($513 million), small dry ($3.53 billion) and liquefied petroleum gas ($4.07 billion).
Norway remained No. 1 in value in mobile offshore drilling unit value ($11.84 billion), despite a $2.19 billion decrease from 2018. The country also had the most valuable offshore construction vessel fleet at $5.47 billion.
The U.S. maintained the most valuable offshore support vessel fleet ($5.08 billion), but the value decreased by nearly $2.4 billion. The United States’ offshore construction vessel fleet value was second on the list at $2.32 billion.
“One major contributing factor to their declining asset value is that the country has the highest number of offshore vessels aged 15 years and older. This percentage of old, potential scrap candidates will have a negative effect on overall asset value.”