German Shipowning on the Rise

December 10, 2004

German shipowners have moved up globally to rank number four in terms of tonnage. At the mid-point of this year they controlled 5.8% of the global fleet, says the owners’ association VDR. They have come close to Norway’s 6.1%. In containerships German owners continue to be number one with about 28% of global tonnage. The share is expected to grow further with the huge newbuilding wave to be delivered over the next years. By the end of the year German owners will control about 2,560 ships with 40m gt capacity, 160 ships and 6m gt more than a year ago. The fleet has doubled since the introduction of the tonnage tax five years ago, said VDR president Frank Leonhardt.

German Shipowning on the Rise

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