China has overtaken Japan to become the world’s top shipowning nation, with a total fleet value of $255 billion, according to recent data from VesselsValue.
China, which was already leading in terms of the number of vessels, now also owns the most valuable fleet. It holds the largest bulk carrier and container ship fleets, valued at $68.4 billion and $63.5 billion, respectively.
Geopolitical tensions in the Red Sea have forced vessels to reroute around the...