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1. Japan
Japan remains the top ship owning nation by fleet value at just over USD 108 Bn, despite seeing USD 9 Bn wiped off from its 2019 total value. This drop has largely been due to the fall in values seen in the Dry Bulk sector, which experienced a mixed 2019 and an even worse start to 2020. Global Dry Bulk demand is generally linked to China, who account for more than two thirds of global iron ore demand. With the demand tailing off, Capesize vessels have been chartered for less than OPEX rates for most of 2020.
2. Greece
The Greek owned fleet value stayed consistent between 2019 and 2020. The total fleet value is now at USD 100.5 Bn. The