EUROPE’S shipping fleet continues to expand, but its share of global tonnage is slipping as Asian fleets grow at a far faster pace, according to new figures released by the ECSA European Shipowners.
The organisation is urging EU policy makers to accelerate investment in clean fuel production, warning that Europe risks losing ground in both competitiveness and energy security.
The Europe-controlled fleet reached 570.5m gross tonnes across 22,403 vessels in 2025 — an 11% increase since 2018 and the strongest annual growth in five years. Yet global fleet expansion over the same period reached roughly 30%, driven overwhelmingly by rapid growth in the Asia-Pacific region. Europe’s share of global tonnage has therefore fallen from 38.5% in 2018 to 32.8% in 2025.
“The headline is that we’re growing, but Asia is growing faster, so the percentage is going down,” said ECSA Secretary-General Sotiris Raptis. “There is a slow but steady decline.”
Despite this, European shipowners are leading the global transition to cleaner vessels. The ECSA study shows that 44% of all sustainably fuelled-powered ships on order worldwide are destined for European owners, and more than half of the European orderbook — 54% — is designed to operate on sustainable fuels.
But the availability of those fuels is lagging dramatically behind. Asia accounts for 74% of global sustainable fuel production projects, while Europe represents just 10%.
“While we are becoming champions in the green transition for ships, this is not matched by the availability of fuels,” Raptis said.
“Only 10% of sustainable fuels are produced in Europe, compared to 74% in Asia. This makes the argument about investing the ETS revenues even stronger,” he continued.
Shipping contributes around €9bn annually to the EU Emissions Trading System, but ECSA argues that too little of this revenue is being reinvested into clean fuel production or uptake. Raptis said the sector will push for mandatory earmarking of ETS revenues for shipping as part of the upcoming ETS review expected in July.
“As long as shipping is subject to EU climate legislation, it is essential to invest the €9bn paid by shipping companies to support production and availability of clean fuels in Europe,” he said. “Investing in fuel availability is not only key for the energy transition of shipping, but a matter of energy security for Europe.”
The report also highlights Europe’s heavy reliance on maritime trade: 76% of the EU’s external trade moves by sea. European shipping, dominated by SMEs — 90% of companies control fewer than 10 ships — carries everything from food and energy to raw materials for renewable infrastructure.
Raptis warned that Europe’s broader industrial competitiveness is at stake, noting the continent is also falling behind China in renewable energy, clean technologies and industrial investment.
He pointed to the EU’s climate targets, arguing that the current trajectory of the ETS — requiring emissions to fall to zero by 2040 — is “not reasonable” and misaligned with the EU’s own climate law, which sets an 85% reduction target for the same year.
“We have ambitious targets in place, but we don’t invest enough to compete with China,” he said.
“What we are trying to tell policy makers is that our members are doing their part. They are investing in sustainably fuelled-powered ships. But if the fuels are not available in the market, you will go nowhere.”
Raptis said the sector needs a global regulatory framework through the International Maritime Organization to ensure a level playing field.
“The IMO discussion has been kept alive for the moment, which is good. But we need global measures. We need a level playing field.”
