TOP 10 LARGEST SHIP REGISTRIES IN THE WORLD

The flag painted on a ship's stern doesn't necessarily tell you where the ship's owner is from.

Ships around the world are registered under different flags, creating a global system of maritime registration that is heavily concentrated among a relatively small number of registries.

According to UNCTAD, measured by share of global ship carrying capacity:

Liberia — 17.4%
Panama — 15.2%
Marshall Islands — 12.5%
4️⃣ Hong Kong, China — 8.3%
5️⃣ Singapore — 6.2%
6️⃣ China — 5.6%
7️⃣ Malta — 4.6%
8️⃣ Bahamas — 2.9%
9️⃣ Greece — 2.2%
Japan — 1.8%

The striking part?

Liberia, Panama and the Marshall Islands together accounted for 45.1% of the world's ship carrying capacity.

And there's an important distinction: the flag of registration and the nationality of the ship's owner are not necessarily the same. A vessel owned by a company in one country can legally operate under the flag of another.

One ocean. Hundreds of flags. A remarkably concentrated registration system.

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