China's Fleet to Lead by 2030

COSCO Container Ship

By MarEx 2015-04-07 22:19:34

China is also expected to exceed Greece in terms of total fleet capacity by 2030. That’s the prediction of the Shanghai International Shipping Institute which has just released its 2030 China Shipping Development Outlook report.

The report also forecasts that China will be the world’s largest cruise market, and Chinese shipyards are expected to get about 11 percent of the world’s cruise ship orders by the time.

According to the report, by 2030, China’s total international shipping volume will reach 6.2bn tons, which will account for 17 percent of the world’s shipping volume. 

China’s ship financing will also account for 30 percent of the world’s volume.

The growth rate for iron ore and coal demand will slow down, and demand for grain and oil import will increase substantially, states the report. Export and import container volumes will also reach 200 million TEU.

The growth of the bulk carrier fleet and tanker fleet will be faster than that of the container vessel fleet in the next 15 years. Bulk carriers, tankers and containerships will account for 70 percent, 18 percent and 9.5 percent of China’s shipping fleet.