At the start of 2014, the EU controlled fleet (which comprises ships whose ultimate ownership or control lies in an EU country, but which may be flagged in a different country) comprised of 660 million deadweight tonnes, 450 million gross tonnes, and 23,000 vessels. For the purposes of this report, the EU includes the 28 EU countries plus Norway. Between the

Containership owners have seen billions of dollars wiped off the value of their fleets over the past year. Massive overcapacity has squeezed not only freight rates, but also the value of steel floating on water, the latest service from VesselsValue.com shows.