Japan owns the world’s most valuable and largest fleet of LNG carriers, and the nation is followed by Greece and China, according to the newest data by Veson Nautical’s VesselsValue.
The value of the Japanese LNG fleet stands at $40.9 billion as of January 2025, VesselsValue said on Wednesday
Also, the value of the Japanese LNG fleet rose from $37.8 billion since VesselsValue’s last report in February 2024.
Out of the top shipowning nations, Japan also owns the largest fleets both in terms of value and size for LPG vessels, reefers, and vehicle carriers, which are valued at $15.1 billion, $1.3 billion, and 24.8 billion, respectively.
Jaan’s MOL and NYK both have huge LNG fleets.
Greek LNG fleet, which was first in 2021, has a value of $32.4 billion, while China’s LNG fleet is worth $26.9 billion, according to VesselsValue.
VesselsValue said Greece remains the owner of the second-largest LNG fleet, with 143 vessels.
The value of this fleet has risen by just over $1 billion from last year as values for this sector have remained at elevated levels over the last few years, driven by a surge in demand, it said.
China leads
Whilst China retains the top spot in terms of vessels numbers, it has also taken the lead for the most valuable fleet, overtaking Japan and amounting to $255 billion, VesselsValue said.
The fact that China owns the most valuable bulker and container fleets at $68.4 billion and 63.5 billion respectively, has contributed to their leading status, particularly as values for both sectors have firmed over the last year.
VesselsValues said this is due to improving market fundamentals which have come about as a result of the crisis in the Red Sea, increasing tonne-mile demand for most sectors as vessels reroute around the Cape of Good Hope to avoid hostilities.