Among the developing regions, Africa’s share is
determined largely by the register of Liberia, which
caters above all for container ships and oil tankers.
For the Latin American and Caribbean fleets, the flag
of Panama explains the region’s high share among
bulk carriers. Almost one quarter of the world fleet
is registered in developing countries in Asia, with a
particularly high share among the general-cargo ships
(almost 33 per cent of the world total). The share of
Oceania reflects to a large extent the register of the
Marshall Islands, with its specialization in oil tankers
and dry-bulk carriers.