The world cargo carrying ships (100 gt and above) as on 1 st January, 2003 comprised 94.7% in terms of gross tonnage and 52.4% in terms of number of ships of the total world fleet (including other types of vessels such as Offshore Vessels, Fishing Crafts, Dredgers, Research Vessels, tugs, towing and pushing vessels etc.) and totalled 46656 ships of 554.6 million gt (821.6 million dwt) as per the latest Lloyd's Register publication World Fleet Statistics 2002'. The average age of the world cargo carrying fleet was at 20 years. During the year, the completions to cargo carrying fleet totalled 1001 ships of 32.7 million gt (48.5 million dwt) as against out goings due to disposals or losses of 635 ships of 16.1 million gt (27.8 million dwt) with an average age of 28 years.
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