China Tops Leading Maritime Nations of the World: Menon Economics
The 2018 report on the “Leading Maritime Nations of the World” ranks China as the world’s leading maritime nation, placed among the top four on all the maritime pillars in the ranking. China’s position is particularly strong in shipping and ports & logistics.
The study conducted by Menon Economics benchmarks the 30 leading maritime nations around the world in four key maritime pillars: shipping, finance and law, maritime technology and ports & logistics, in an attempt to understand the key drivers behind national maritime success. DNV GL and Menon Economics presented the report at the SMM trade fair in Hamburg.
The USA is placed second, scoring high in all four dimensions, followed by Japan. Germany, Norway and South Korea are sharing the 4th place, as all these three countries have aggregated total score very close to each other.
As a shipping center, China took the top spot due to the strength of its local ship-owners and managers, but Greece is nipping at its heels.
The USA’s dominance in Maritime Finance and Law is a result of its bond market, and the large number of IPOs, listed companies and private equity firms for the maritime sector.
A strong R&D index, large marine supply industry and its advanced ship yards sees South Korea first among the nations in Maritime Technology.
With seven of the ten largest ports in the world and as the top container exporter, China is the undisputed leader in ports and logistics.
China is a gold medalist in shipping scoring the highest in terms of ship owners and managers based in the country with Greece coming ever closer to stealing the lead.
USA scores the highest in maritime finance and law due to its strong position in ship finance, with the most IPOs, significant number of listed companies. Overall, the nation also has an outstanding reputation for effective advocacy as well as fair and cost efficient dispute resolution, legislation and reliable creditor system protection