The Greek company-owned fleet’s $5.64-billion value increase from 2018 was the second largest among the top 10 countries and trailed only China’s $6.3 billion growth. Japan remained second in overall value at $94.72 billion — up from $89.12 billion in 2018 — and China stayed at No. 3 at $90.88 billion.
The United States, which was fourth in overall value in 2018, fell to sixth this year as the country’s fleet value dropped from nearly $47 billion to about $44.52 billion, which was the largest loss among any of the top 10 countries. Germany, which lost about $1.8 billion in value to $31.46 billion, and Denmark, which fell nearly $700 million to about a $23 billion value, remained at seventh and 10th, respectively.
Singapore ($49.97 billion) and Norway ($48.85 billion) both moved ahead of the U.S. to claim fourth and fifth, respectively.
Overall, the top 10 countries added a combined $17.6 billion in value.
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.
South Korea, with total value rising by $5.54 billion to north of $30 billion, overtook the United Kingdom ($29.03 billion) for eighth on the overall value list. South Korea’s container fleet value increased by more than $3 billion to $5.66 billion.
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.
“U.S. exposure to the offshore markets, which have suffered further asset value declines, has knocked the nation down to sixth place in terms of corporate ownership” reads the VesselsValue report.