Shipping Facts
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28/02/2010 03:38:00
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More than 80% of world trade by volume is carried on ships.
Greece and Japan dominate ship owning with over 30% of the world tonnage.
However, their ships rarely fly the flag of the home countries, choosing instead “flags of convenience.”
Panama is the favoured country for Japan; while Greece prefers the Mediterranean Islands of Malta and Cyprus; Liberia’s flag flies on many German vessels.
Just 15 countries control 80% of the world’s merchant ships and that fleet’s tonnage grew by 6% in 2008 as new ships ordered before the financial crisis hit the waves.
Source: The Economist
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