During the course of the 2019/2020 ‘policy year’, the Association saw another satisfactory year of owned tonnage growth, with a further 5.5 million Gross Tonnage (GT) (or 4.5%) increase to approximately 117.5 million GT. In addition, the Association’s chartered entry grew by 26 million GT to approximately 45 million GT giving a combined entry of approximately 162.5 million GT.
The majority of the owned growth came from existing Members, particularly those who have joined in the last five years.
Three new Members joined the Association during the 2019/2020 ‘policy year’. In addition, six new Members joined at Renewal on 20 February 2020 and a significant number of new ships were committed from existing Members.
European fleets (excluding Scandinavia) make up 32.6% of the Association’s owned tonnage with Scandinavia at 15.2%. Our Asian membership now comprises 45.7%, with entries from Japan (19%), Taiwan (8%) and South Korea (8%).
The make up of entered ships by type remains broadly unchanged. Bulk carriers continue to make up the majority at 34 per cent, while containers account for 27 per cent, crude tankers 18 per cent, and other types of tanker, 14 per cent.