PL/B/C.4/LC.1/7 page 3
The classification of small beneficially-cwmed open-registry fleets (especially those of less than 1 million tons dwt) often depends upon evidence or assumptions relating to a single individual - and for this reason details of these fleets are not published. It should be noted, however, that one fleet which exceeds 1 million tons falls into this category: this is a tanker fleet which is managed from the United Kingdom but classified as beneficially owned in India for the reason that the owner, although resident in the United Kingdom, is an Indian national who is understood to be domiciled in India.
The
6. The results of the investigation are set cut in tables 1 to 7 which fellow. i.s in 1978, the computer search was extended to vessels registered in Hong Kong. result has been to identify the true management and beneficial ownership of 98.5 per cen of, the dwt tonnage registered under open-registry flags and in Hong Kong.
7. As in 1978, the situation is characterized by an exceptionally high concentration of ownership and control in the hands of three countries and one territory (United States of America, Greece, Japan and Hong Kong) which beneficially own no less than 74.9 per cent of the world open-registry fleet and manage 66.4 per cent.
L
Within
this group the tonnage beneficially owned in Greece declined (mainly as a result of transfers to the Treek flag), but that of Hong Kong increased dramatically (by 9.million tons), mainly as a result of substantial in-flows of ship-owing capital. In percentage terms, Hong Kong overtook Greece to become the second largest beneficial owner: Tablo 2 indicates that more than 86 per cent of the total fleet is controlled from no more than eight countries/territories.
B. Table 4 shows an even greater concentration of ownership of tankers: the same four countries/territories beneficially own 83 per cent of the total tanker fleet. As indicated in table 5, these four beneficially cum 69.5 per cent of the total fleet of bulk and combined carriers. On the other hand, the beneficial cwnership and control of open-registry reefer vessels is more dispersed: only two countries beneficially cwn reefer fleets in excess of 100,000 tons dwt (the United States and Japan) and these account for only 37 per cent of the total reefer fleet. Beneficial ownership of open-registry container vessels is even more widely dispersed.