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.