Asian shipowners have finally surpassed their European competitors to control the largest share of the global fleet, latest figures show.

They now represent 43% of global tonnage or 48,472 vessels of 637m gross tons against the 42% held by European owners who control a fleet of 30,610 vessels of 630m gross tons, according to Clarksons.

“For a long time, shipping market observers predicted that Asian owners would soon control the largest share of the global fleet, just as shipbuilding and trade had moved East,” the shipbroker said.