Asian countries China, Japan and Singapore have secured top spots as leaders in Cargo Shipping in the world fleet.
In a report published by The Maritime Executive, Japan was placed in the second spot while China in third and Singapore was placed in fifth.
Greece leads the world fleet in cargo carrying capacity with 309 million of deadweight tonnage (dwt).
Together, these five countries have a market share of 49.5 percent of dwt, according to the report. The Greek cargo fleet has 4,199 vessels.
Only one country from Latin America; Brazil, is among the top 35 ship owning countries; none are from Africa.
In terms of vessel numbers, China is the leading ship owning country (5,206 ships of 1,000 gross tons and above), including many smaller ships deployed in coastal shipping.
Regarding estimated commercial value, the U.S. fleet leads with 96 billion dollars, followed by Japan, Greece, China and Norway.
The average value per ship of owners from Qatar is $75 million, reflecting its fleet of expensive liquefied natural gas tankers and other specialized tankers.
In comparison, Indonesia, Thailand and Vietnam own fleets with low unit values. Indonesian-owned fleets have an average commercial value of $3.6 million per vessel.