Top flag states
The list of top shipowning nations and flag countries has remained broadly stable with some shifts in relative rankings. As of 1 January 2025, Liberia, Panama and the Marshall Islands remained the top three flag States, in that order, accounting for 46.5 per cent of total world capacity in dead weight tons, 16.2 per cent of the number of vessels and 36.1 per cent of the global fleet value.

