Veson Nautical shined a spotlight on the Singaporean fleet, including live, launched, and on-order vessels, and dived into the top 10 owners of Singaporean flagged vessels, the top 10 Singapore-based operators, and the top 10 Singaporean beneficial owners.
A.P. Moller – Maersk currently leads the Singapore flagged fleet with 119 vessels in its books, with a value of US$6.35 billion. In second place, Wan Hai Lines owns 111 Singapore-flagged vessels; this fleet is valued higher at US$6.35 billion despite owning fewer vessels due to a large orderbook and a modern fleet with an average age of seven years.
In third place is Singapore-based Pacific International Lines (PIL), with a fleet of 73 Singapore-flagged vessels valued at US$2.87 billion. Evergreen Marine Corp is in fourth place with 58 vessels; however, it should be noted that this fleet ranks the highest overall in terms of its value of US$6.47 billion, consisting solely of larger modern container vessels, which are currently valued at high levels.
Grace Ocean Investment is in fifth place with a total of 54 Singapore-flagged vessels in its fleet and a value of US$2.2 billion. Additionally, noteworthy is NYK’s fleet of 39 vessels, valued at US$4.5 billion.
In a list of the top 10 Singaporean operators, Ocean Network Express (ONE) ranks in pole position both in terms of fleet size and value, with a fleet of 236 vessels anda value of US$22.17 billion. Eastern Pacific Shipping is in second place with 197 vessels, valued at US$19.93 billion, and PIL ranks third with 102 vessels, valued at US$5.91 billion.
It should be noted that the top three owners operate predominantly within the container shipping sector, which has seen a significant value rise over the past year.
For example, the value of a 15-year-old Panamax container ship with a capacity of 4,250 TEUs has increased by 80% year-on-year from US$20.70 million to US$37.17 million.
“This is largely due to increased ton-mile demand for container ships as they travelled around the Cape of Good Hope to avoid the hostilities in the Red Sea area,” pointed out Rebecca Galanopoulos, shipping analyst at Veson Nautical.
Of the top 10 Singapore-based beneficial owners, Eastern Pacific Shipping has the largest fleet of vessels with a total of 205 and also the highest value at US$21.08 billion. Much of the value of the fleet can be attributed to the company’s extensive orderbook of 118 vessels, spanning the container, tanker, bulker, LNG, LPG and vehicle carrier sectors.
Container carrier PIL ranks second with 87 vessels and a total value of US$4.24 billion, while Hafnia ranks third with 85 vessels and a total value of US$2.94 billion; this fleet consists of tankers within the Aframax to Handysize sectors.
Rebecca Galanopoulos said the Singaporean maritime industry remains a dominant force in global shipping, with major companies strategically managing diverse fleets across multiple sectors.
