In practice, many ship owners choose to register their vessels outside their own country.
But which countries have the most registered vessels? This infographic shows the ranking of the largest merchant fleets in the world as of 2023. The data is taken from The World Factbook and reflects the number of registered merchant ships (of 1,000 gross tonnage and above) in different countries, which accounts for both domestic shipping needs and global registration practices.
Every merchant vessel must be registered under the laws of a specific country, which takes on the responsibility for regulating the safety of the vessel, labor standards, and environmental regulations.
In practice, many ship owners choose to register their vessels outside their own country. The so-called "flags of convenience," offered by countries like Panama and Liberia, provide low fees, fewer regulatory requirements, and tax advantages. As a result, the flag under which a vessel sails often does not reflect the country of its owners.
In first place is Indonesia, with 11,422 merchant ships registered under its flag. The country's vast archipelago, consisting of more than 17,000 islands, makes maritime transport vital for trade.
Additionally, Indonesia's cabotage law, which requires that vessels operating in Indonesian territorial waters be registered locally, further increases the size of the merchant fleet. This combination of geography and government policy has propelled Indonesia ahead of global maritime powers like China, which ranks second. Panama holds the third position. Russia ranks ninth in the world by the number of registered vessels.
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