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Veson Nautical: Top 10 Singapore-flagged vessel owners, operators, and beneficial owners

Moller Maersk currently leads the Singapore-flagged fleet with 119 vessels in their books, with a value of USD 6.35 bil; ONE ranks in pole position for top Singaporean operators in terms of fleet size and value.

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Using data from Veson Nautical solution VesselsValue, the company on Wednesday (2 April) shined a spotlight on the Singaporean fleet including live, launched, and on order vessels and dive into the top 10 owners of Singaporean flagged vessels, the top 10 Singapore-based operators, and the top 10 Singaporean beneficial owners:

By Rebecca Galanopoulos

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Moller Maersk currently leads the Singapore flagged fleet with 119 vessels in their books, with a value of USD 6.35 Bn. In second place, Wan Hai Lines owns 111 Singapore-flagged vessels; this fleet is valued higher at USD 6.35 Bn despite owning fewer vessels due to a large orderbook and a modern fleet with an average age of seven years.

In third place is Singapore-based Pacific International Lines with a fleet of 73 Singapore flagged vessels valued at USD 2.87 Bn. Evergreen Marine Corp are in fourth place with 58 vessels; however, it should be noted that this fleet ranks the highest overall in terms of its value of USD 6.47 Bn this fleet consists solely of larger modern Container vessels which are currently valued at high levels and also has a large orderbook.

Grace Ocean Investment are in fifth place with a total of 54 Singapore flagged vessels in its fleet and a value of USD 2.2 Bn. Also noteworthy is NYK’s fleet of 39 vessels, valued at USD 4.5 Bn.

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In a list of the top 10 Singaporean operators, Ocean Network Express ranks in pole position both in terms of fleet size and value with a fleet of 236 vessels and value of USD 22.17 Bn. Eastern Pacific Shipping are in second place with 197 vessels, valued at USD 19.93 Bn, and Pacific International Lines rank third with 102 vessels, valued at USD 5.91 Bn.

It should be noted that the top three owners operate predominantly within the Container sector which has seen values rise considerably over the past year. For example, 15 YO Panamax Containers of 4,250 TEU have increased by c.79.57% year-on-year from USD 20.70 mil to USD 37.17 mil. This is largely due to increased ton mile demand for Containers as vessels travelled around the Cape of Good Hope to avoid the hostilities in the Red Sea area.

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Of the top 10 Singaporean based beneficial owners, Eastern Pacific Shipping have the largest fleet of vessels with a total of 205 and also the highest value at USD 21.08 Bn. Much of the value of the fleet can be attributed to the company’s extensive orderbook  of 118 vessels, spanning the Container, Tanker, Bulker, LNG, LPG and Vehicle Carrier sectors.

Pacific International Lines rank second with 87 vessels and a total value of USD 4.24 Bn; this fleet consists entirely of Container vessels within the New Panamax to Feedermax sub sectors.

Hafnia ranks third with 85 vessels and a total value of USD 2.94 Bn; this fleet consists of Tankers within the Aframax to Handysize sectors. Tanker values have corrected lower for most sectors this year, following a period of 15 year highs, as market uncertainty and high prices have weighted heavily on sale and purchase transactions. For example, 15YO Aframaxes of 110,000 DWT are down by c.21.43% year-on-year from USD 42.84 mil to USD 33.66 mil.

The Singaporean maritime industry remains a dominant force in global shipping, with major companies strategically managing diverse fleets across multiple sectors. Singapore-flagged vessel owners, operators, and beneficial owners play a crucial role in shaping industry trends, particularly within the Container sector, which has seen significant value growth recently. Overall, Singapore’s maritime industry demonstrates resilience and strategic foresight, reinforcing its position as a key global shipping hub.

 

Photo credit: Maritime and Port Authority of Singapore
Published: 10 April, 2025

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Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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Alternative Fuels

LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

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Alternative Fuels

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

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Photo credit: DNV
Published: 4 September, 2026

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