The report (SSMR issue 11) includes detailed statistical information on the world's largest shipping nations, including a comment on the latest developments. In addition, it contains approx. 30 general indicators on maritime economics and transport.

(1) THE MAJOR SHIPPING NATIONS

1.1 Registered Tonnage of the Top Ten Countries .......... 5
1.2 The Top Ten Shipping Nations and their Controlled Fleet Development ............ 7
1.3 Future Tonnage Development of the Top Ten Shipping Countries . 8

(2) COUNTRY PROFILES OF MAJOR SHIPPING NATIONS

2.1 Greece Fleet Development .... 9
2.2 Japan Fleet Development ..... 10
2.3 Germany Fleet Development . 10
2.4 Chinese Fleet Development .. 11
2.5 Fleet Development of the Republic of Korea ............. 12

COMMENT - SUMMARY TABLES

Tab. 1 Controlled Fleets of Major Shipping Nations as of July 1st, 2007-2011 ............. 5
Tab. 2 Registered Fleets of Major Shipping Nations as of July 1st, 2007-2011 ................ 5
Tab. 3 Average Growth Rates (dwt-%) by Ship Types for Selected Registered Flags
as of July 1st, 2007 - 2011 (in mill dwt) . 5
Tab. 4 Open Registry Flag's Tonnage for the Top Ten Shipping Nations
as of July 1st; 2011 (dwt %-share) .......6
Tab. 5 Tonnage Shares (dwt) of the Ten Top Ranking Countries of Domicile
on the World Merchant Fleet by Ship Type as of July 1st, 2011 .... 6
Tab. 6 Tonnage Additions of the Top Ten Shipping Countries During
July 2010 - June 2011 (mill dwt and 1,000 TEU) ...... 7
Tab. 7 World Order Book by Ship Type of the Top Ten Countries of Domicile
as of July 1st, 2011 (mill dwt and 1,000 TEU) ............. 7
Tab. 8 Key Figures - Greece Controlled Fleet as of July 1st, 2011 .............. 7
Tab. 9 Key Figures - Japan Controlled Fleet as of July 1st, 2011 ................ 8
Tab. 10 Key Figures - Germany Controlled Fleet as of July 1st, 2011 ........... 8
Tab. 11 Key Figures – PR of China Controlled Fleet as of July 1st, 2011 ....... 8
Tab. 12 Key Figures – Korea, Rep. of Controlled Fleet as of July 1st, 2011 ... 9

COMMENT - FIGURES

Fig. 1 World Merchant Fleet - Controlled Tonnage by Region
(mill dwt, av. dwt %-Growth 2007-2011) ................ 5
Fig. 2 National and Foreign Flag Tonnage Shares (dwt) Attributable to
Countries of Domicile as of July 1st, 2011 ................ 6
Fig. 3 Controlled Tonnage (dwt) of the World Merchant Fleet Attributable to
the Top Ranking Countries of Domicile as of July 1st, 1996 – 2011 ................ 7
Fig. 4 Controlled Fleet of Major Shipping Nations as of July 1st, 2011 (dwt 2011 and
Average Yearly dwt Growth 2007-2011)  7
Fig. 5 Greece – Controlled Fleet by National and Foreign Flag Registered Tonnage
Quarterly as of July 1st, 2001- 2011 (mill dwt) ......... 9
Fig. 6 Japan – Controlled Fleet by National and Foreign Flag Registered Tonnage
Quarterly as of July 1st, 2001- 2011 (mill dwt) .......... 10
Fig. 7 Germany – Controlled Fleet by National and Foreign Flag Registered Tonnage
Quarterly as of July 1st, 2001- 2011 (mill dwt) .......... 10
Fig. 8 China, PR of – Controlled Fleet by National and Foreign Flag Registered
Tonnage Quarterly as of July 1st, 2001- 2011 (mill dwt) ............... 11
Fig. 9 Korea, Rep. of – Controlled Fleet by National and Foreign Flag Registered
Tonnage Quarterly as of July 1st, 2001- 2011 (mill dwt) ............... 12

ISL InfoLine Special

(1) ONLINE INFORMATION COMPILED FROM LEADING INDUSTRY SOURCES (2) ISL SEABASE – NEW LITERATURE ........... 12

ISL Statistical Tables

(1) WORLD MERCHANT FLEET BY REGIONS

1.1 Africa ............... 19
1.1.1 Fleet by Registered Flag and Country of Domicile According to Ship Type ........ 19
1.1.2 Controlled Fleet by Countries of Domicile ................ 20
1.1.3 Additions to Controlled Fleet and Order Book by Country of Domicile
by Ship Type ...... 20
1.2 AMERICA ............ 21
1.2.1 Fleet by Registered Flag and Country of Domicile According to Ship Type ........ 21
1.2.2 Controlled Fleet by Countries of Domicile ................. 22
1.2.3 Additions to Controlled Fleet and Order Book by Country of Domicile
by Ship Type ...... 22
1.3 ASIA ................. 23
1.3.1 Fleet by Registered Flag and Country of Domicile According to Ship Type ........ 23
1.3.2 Controlled Fleet by Countries of Domicile ................ 24
1.3.3 Additions to Controlled Fleet and Order Book by Country of Domicile
by Ship Type ...... 24
1.4 EUROPE .............. 25
1.4.1 Fleet by Registered Flag and Country of Domicile According to Ship Type ........ 25
1.4.2 Controlled Fleet by Countries of Domicile ................ 26
1.4.3 Additions to Controlled Fleet and Order Book by Country of Domicile
by Ship Type ...... 26

(2) SELECTED SHIPPING NATIONS - SUMMARY ON FLEET DEVELOPMENT UP TO MID 2011

2.1 Greece .............. 27
2.2 Japan ............... 28
2.3 Germany ........... 29
2.4 China, PR of ...... 30
2.5 Korea, Rep. of .... 31
2.6 Norway ............. 32
2.7 Hong Kong (SAR) ................ 33
2.8 United States of America ...... 34
2.9 Taiwan .............. 35
2.10 Denmark ........... 36

(3) COUNTRY GROUPS - SUMMARY ON FLEET DEVELOPMENT UP TO MID 2011

3.1 OECD ................ 37
3.2 European Union . 38
3.3 Major Open Registry Countries ...........39
ISL Market Review....40-64