Dry CargoGreater China

Chinese leasing houses rise up the cape ranks

Alphabulk, part of AXSMarine, has compiled its annual list of the world’s largest capesize owners with Chinese banks notably climbing the rankings.

Based on a combined fleet plus orderbook deadweight at the start of the month, Cosco dominates the list with 25m dwt of capes, nearly twice as many as China Merchants in second place with 13m dwt. China Merchants this year has surpassed Singapore’s Berge Bulk into the second spot. Polaris Shipping and the Fredriksen Group complete the top five. The cape rankings include newcastlemaxes.

Of note in the list is the continued rise of Chinese leasing houses. Bank of Communications is now the 13th largest capesize owner with 8m dwt on its books. The bank did not make the top 25 at all a year ago. Meanwhile, China Development Bank has moved up from 19th position to 15th position over the past 12 months, with its fleet and orderbook rising to 7m dwt. ICBC maintained its position at number seven.

Unlike other shipping segments such as the container business, cape ownership remains a very fragmented sector. The top 25 capesize owners control some 46% of the capesize fleet on the water, according to Alphabulk data.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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