Most ship recycling occurs in the Indian subcontinent; Economies’ roles in world shipping and merchant fleet supply vary
Building, ownership, registration and recycling of ships, main specialization, 2023
UN Trade and Development, UNCTADstat and Clarkson's research.
Top three economies in each segment are shown in the default selection. Building and recycling are estimated deliveries and demolitions during 2023. Registration and ownership figures refer to the beginning of the year 2024.
At the start of 2024, the global merchant fleet comprised around 109 000 vessels (including cargo and non-cargo carrying ships) of at least 100 gross tons (GT), including 58 200 which were over 1 000 GT.
Ownership is spread over the whole globe, with 41 per cent of carrying capacity held by entities in Greece, China and Japan. Several economies play specific roles for the global fleet. Liberia, Panama, and the Marshall Islands host the largest ship registries.
While China and Japan are major shipowners, these economies (together with the Republic of Korea) play an even bigger role in ship building. India, Bangladesh and Pakistan jointly accounted for nearly 84 per cent of ships recycled.