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Graph 6 SMALL- MEDIUM- LARGE-
Distribution of the fleet by shipbuilding country SIZED SIZED SIZED TOTAL
based on company size
Source: Analysis of data sourced by Greek Shipping Publications
Note: Percentages lower than 5% are not included.

China South Korea 10% 8% 8% 8%

Japan Other

20%
27%

35%
35%

41%

33%

21% 24%

manufacturers. Indeed, if a company orders a vessel but
chooses an engine manufacturer outside the shipyard’s offi-
cial “makers’ list”, costs may increase significantly.
A total of 97.2% of vessels built in Japan are equipped with
Japanese-made engines. Despite Japan’s leading techno-
logical expertise, recent scandals involving data falsification
on fuel consumption have shaken the industry’s confidence
in Japanese engines.
A total of 90.4% of ships built in South Korea are equipped
with South Korean-made engines. The lower percentage
(compared to Japan) is partly due to the engines of LNG car- 34% 33% 32%
riers, one of the last “strongholds” of European dominance 31%
in maritime technology. Although 93.8% of LNG carriers in
the fleet were built in South Korea, 30.5% of their engines
were made in Europe. In China, the picture is changing, as
42.4% of ships built in Chinese shipyards are fitted with Chi-
nese-made engines, while 42.3% are equipped with South
Korean engines. Despite China’s rapid progress in terms of
quality, it seems that some shipowners remain hesitant to
trust the Chinese marine engine manufacturing market.

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