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Annual Review 2021

            3.3     World Merchant Fleet Ranking By Flag

                                                                                             (Ships of 300 GT and over)
                DWT-rank
                January 1st                         January 1st 2020             January 1st 2021        DWT
                           Flag                                                                         % share
              2021   (2020)                   No. of  1000   1000   1000   No. of  1000  1000   1000    of total
                                              Ships    GT    DWT     TEU   Ships   GT    DWT     TEU
               1      (2)  Panama             6486  212179  320335  3489   6612  220525  335293  3822    16.5
               3      (3)  Marshall Islands   3404  155141  254460  1250   3539  161532  265598  1205    13.1
               2      (4)  Liberia            3553  165854  266245  4009   3777  181077  293571  4115    14.4
               4      (5)  Hong Kong (SAR)    2534  126763  200544  3596   2556  129348  204717  3642    10.1
               5      (6)  Singapore          2362   90016  135649  2467   2331  87755  131596  2472      6.5
               6      (7)  Malta              2036   79320  114468  2036   1976  80903  115067  2116      5.7
               7      (8)  China, PR of       4425   61277  95759   954    4734  64922  101691   986      5.0
               8      (9)  Greece              913   39843  68887    51     876  37561  64739     42      3.2
               9     (10)  Bahamas            1133   55419  65224   212    1091  53233  61270    188      3.0
               10    (11)  UK                  634   24038  34465   384     579  22126  31844    388      1.6
               11    (12)  Japan              2591   28738  39822   244    2689  27937  38229    250      1.9
               12    (13)  Cyprus              864   22402  33785   497     863  22138  33069    471      1.6
               13    (14)  Denmark             516   21035  23177   1528    548  22235  24916   1539      1.2
               14    (15)  Indonesia          3391   16037  22651   218    3523  17225  24475    229      1.2
               15    (16)  Portugal            561   15284  20798   902     608  16491  22686    939      1.1
               16    (17)  Norway              865   16037  19969    61     905  17018  21423     82      1.1
               17    (18)  Iran                449   10785  19402   104     461  11388  20112    158      1.0
               18    (19)  India               888    9645  16501    57     899   9511  16152     55      0.8
               19    (20)  Korea, Rep. of     1025   10558  14763   145    1040  11912  15206    227      0.7
               20    (21)  Saudi Arabia        129    7536  13479     8     124   7516  13532     8       0.7
               21    (22)  Italy               641   13976  11372   109     631  13848  10751    109      0.5
               22    (23)  Belgium             102    6230  10358    22     98    5817   9522     28      0.5
               23    (26)  Viet Nam           1401    5113   8359    40    1419   5751   9442     42      0.5
               24    (24)  Russia             1546    6989   8957   108    1583   7209   9181    116      0.5
               25    (25)  US                  363    7652   8388   253     364   7574   8346    251      0.4
               26    (28)  Bermuda             128    9713   7355    44     135  10296   7678     44      0.4
               27    (29)  France              218    6011   7116   242     220   6672   7551    287      0.4
               28    (27)  Germany             238    7672   8338   605     233   7029   7456    566      0.4
               29    (32)  Taiwan              200    4421   6659   176     204   4592   7009    176      0.3
               30    (30)  Malaysia            429    5627   6907    27     432   5522   6620     29      0.3
               31    (35)  Cayman Islands      138    4392   6524     1     136   4407   6615     5       0.3
               32    (33)  Antigua & Barbuda   691    5000   6590   343     643   4832   6336    329      0.3
               33    (36)  Philippines        1041    4166   6165    51    1084   4095   6004     50      0.3
               34    (37)  Netherlands         763    6067   6147   246     752   5674   5966    230      0.3
               35    (31)  Turkey              735    4943   6698    97     702   4456   5955     91      0.3
               36    (34)  Thailand            567    3930   6544    31     562   3574   5898     30      0.3
               37    (39)  Kuwait               40    2317   4182     1     46    2555   4483     1       0.2
               38    (41)  Belize              452    1890   2936    15     487   2624   4266     11      0.2
               39    (38)  Brazil              131    2752   4427    64     119   2597   4209     63      0.2
               40    (42)  New Zealand         212    1713   2691    16     210   2189   3623     11      0.2
               41    (40)  Bangladesh          315    1840   3185     0     360   2101   3567     4       0.2
               42    (43)  Sierra Leone        458    1478   2235     17    492   1730   2679     16      0.1
               43    (45)  Barbados            137    1203   1953    17     154   1555   2536     18      0.1
               44    (58)  Palu                155    820    1174    14     186   1399   2111     15      0.1
               45    (90)  Cameroon             31    167    262      2     63    1171   2038     4       0.1
               46    (51)  Togo                339    1096   1488    25     338   1366   2024     26      0.1
               47    (50)  Saint Vincent       234    1151   1641    39     233   1370   1998     42      0.1
               48    (44)  Gibraltar           179    1753   1978    45     163   1559   1879     37      0.1
               49    (46)  Croatia             175    1215   1922      -     186  1195   1872      -      0.1
               50    (47)  Canada              206    1721   1918    11     199   1642   1792     5       0.1
                           Total (50 flags)   51024  1290925  1934852  24873  52165  1328754  1994593  25570  98.2
                           Other flags        4631   29215  35674   354    4734  30921  39033    288      1.8
                           World Total        55655  1320140  1970526  25227  56899  1359675  2033626  25858  100.0
            Source: ISL Shipping Statistics & Market Review
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