ASIA/PACIFIC-based owners could regain the lead as largest market holders of the world fleet, thus reversing the recent trend that saw European owners at the forefront.

Namely, Asia/Pacific based owners hold the largest proportion of the order book, 45.7 per cent, with 23.2m GT more on order than their European counterparts, according to Clarksons.

“This could reshape recent fleet developments, with Asia/Pacific owners getting back to the fore. Similarly, the European order book is dominated by private companies, holding 66.6 per cent of the 65.4m GT on order. Consequently, public companies may see lower levels of annual fleet growth,” Clarksons said.

The world fleet has experienced a sustained period of growth during the last decade, with owners based in the Asia/Pacific region responsible for the largest share of this expansion. However, since the start of 2014, European owners have regained market share, with public companies growing at the fastest rate.

Since the start of 2014, the European owned fleet has grown by 49.4m GT, accounting for 51.6 per cent of global fleet growth. This has seen European owners retain a steady market share, accounting for 43.9 per cent of global tonnage at the end of 2013 and 44.5 per cent of the fleet at the start of May 2016, Clarksons’ data shows.

During the same period Asia/Pacific owners have experienced a 0.9 per cent decline in fleet share.