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Top merchant fleets of the world by market value in bill. USD by segments as of 2016
Despite challenging markets for shipping, Norway maintained its position as the world’s sixth largest shipping nation, measured by fleet value, in 2016. The Norwegian maritime industry is global, with strong positions in markets around the world. Norway is one of the world’s largest shipping nations, and one of only a few with a complete maritime cluster.
The value of the global fleet has increased from USD 655 billion in 2006, to USD 914 billion in 2016. The estimated value of the global fleet in 2017 is USD 848 billion, a decrease of 7 per cent.
The Norwegian fleet was valued at USD 51 billion in 2016, and the 2017 estimate is USD 48 billion. Measured by value, the Norwegian fleet makes up nearly 6 per cent of the global fleet. The Norwegian fleet ranked sixth among shipowning nations in 2017, measured by value. This is the same position as in 2016. Greece, Japan, China, the USA and Germany are ranked ahead of Norway, with the UK, Singapore, South Korea and Denmark holding the next four spots. The ten largest nations measured by value are unchanged from the previous year, with only minor changes in the order.
Norwegian-controlled fleet by number of ships
The number of ships in the Norwegian-controlled foreign-going fleet has remained basically unchanged over the past two years, and now stands at 1 733 vessels.
The Norwegian-controlled foreign-going fleet deadweight tonnage has grown by close to 11 per cent. The Norwegian International Ship Register (NIS) alone had a net growth of more than 50 ships in the same period, with growth in deadweight tonnage of 10 per cent. Overall 82 newbuildings were delivered to the foreign-going fleet in 2016, with a large share of these going to NIS. In the three first quarters in 2017, the number of newbuilds joining the foreign-going fleet was 32.
Norwegian-controlled foreign-going fleet composition as of 1 October 2017, by number of ships
The deep sea fleet consists of several segments where Norwegian shipowners are world leaders and control significant market shares. These segments include car carriers, tankers, dry bulk, LNG, chemical, container and general cargo, among others. Members of the Norwegian Shipowners’ Association control more than 550 ships in the deep sea segment. The ships make nearly 30,000 port calls around the world each year.
The Norwegian maritime offshore value chain is complete and Norway is one of the world’s largest maritime offshore nations. Members of the Norwegian Shipowners’ Association control more than 50 mobile offshore units, most of them drilling rigs, and the most advanced and modern offshore fleet in the world, consisting of 550 vessels.
The short sea segment transports passengers and all types of freight along the coast of Norway, and to and from European ports. Seaborne transport is an important part of the transportation system, and 40 per cent of European domestic transport goes by ship. Short sea shipping is critical for both commercial shipping needs and the competitiveness of Norwegian industry. Members of the Norwegian Shipowners’ Association control around 150 short sea ships. The industry contributes to efficient logistical and transportation solutions.
Average age of vessels in the Norwegian-controlled fleet
The average age of the Norwegian foreign-going fleet has gone down by roughly four years since 2007, to an average age of 9.9 years at October 1 2017.
Both Norwegian-registered and foreign-registered vessels now has the same age, indicating that the hole fleet are undergoing continuous renewal, both through deliveries of new ships and second hand sales, aided by sale of ships for recycling.
Norwegian-controlled orderbook - number of ships and value
Norwegian international shipowners had a total of 61 vessels on order as of October 1 2017. Compared to January 1 2016, this figure represents a decline of 60 per cent seen in number of ships, and over 60 per cent by value in NOK. Globally, the contracting activity in 2016 fell to its lowest level in over 30 years, both in terms of numerical and tonnage terms. This is to be seen in most vessel segments.