Japan holds a prominent position as the world’s third largest shipping nation, commanding ownership of approximately 12% of the global fleet. The extensive global fleet of 2.4 trillion deadweight tons (DWT) is managed by 16,622 shipowners distributed across 178 countries. Among these, 604 owners in Japan have fleets ranging from 115 DWT to an impressive 28.6 million DWT. The rise of Japan’s shipping industry can be traced back to the economic boom following World War II, during which the country’s international trade expanded significantly.
From the early 1970s to the early 2000s, Japan consistently ranked as the third largest merchandise exporter worldwide. In fact, exports reached their peak at 10% of global merchandise trade in 1986. During this same era, Japan also ranked third in merchandise imports, with imports peaking at 7% of global trade in 1974. Although both exports and imports have decreased to 3% of the global market, the strength of Japan’s fleet remains intact, according to shipping analyst Niels Rasmussen.
Among the most notable Japanese shipping companies are the three co-owners of Ocean Network Express: Mitsui O.S.K. Lines (MOL), Nippon Yusen Kaisha (NYK Line), and Kawasaki Kisen Kaisha (K Line). Together, these companies possess 48% of Japan’s shipping fleet, establishing Tokyo as the fourth largest shipping city globally. Surprisingly, Imabari, a smaller city in Ehime prefecture with only 152,000 residents, ranks as Japan’s second largest shipping city.
Home to 112 shipowners, Imabari controls a third of the Japanese fleet and stands as the sixth largest shipping center in the world. Despite the marginal growth of the Japanese-owned fleet over the past decade and the widening gap between Japan and other shipping giants like China and Greece, Japan remains a vital player in the global shipping industry. Its shipowners and shipyards are well-positioned to benefit from US fees on Chinese-owned and built vessels.