Navalyze · Flags · Marshall Islands
Marshall Islands flag, 2025
Ships whose port of registry belongs to Marshall Islands, as estimated from the THETIS-MRV reports for 2025, and the companies operating them. Each company counts only its ships under this flag.
At a glance
Ships
2,309
49 with a blank port, flag from another year
Emitted
13,538,201 t
CO₂, all ships under the flag
EU ETS allowances due
€379m
5,049,259 t of allowances at the chosen price
Largest operator: Scorpio
€22.0m
69 ships, 6% of the flag's allowances
Ship types under this flag
CO₂ by segment.
- Oil tanker4,138,145 t
- Bulk carrier3,202,298 t
- LNG carrier2,207,786 t
- Chemical tanker1,532,876 t
- Container933,504 t
- General cargo432,328 t
- Vehicle carrier317,252 t
- Gas carrier (LPG)282,429 t
- Cruise230,402 t
- Other198,462 t
- Offshore27,801 t
- Ro-ro25,591 t
- Con-ro5,791 t
- Combination2,907 t
- Passenger627 t
Companies by EU ETS cost
The 50 operators with most EU ETS allowances due for their Marshall Islands-flagged ships in 2025. Companies of one group are summed, as on the compare page; their ships under other flags are not counted here.
| # | Operator | Main segment | Shipsunder Marshall Islands | CO₂emitted, total | AllowancesEU ETS cost | vs segment medianlower is better | vs similar-size shipssame segment, lower is better |
|---|---|---|---|---|---|---|---|
| 1 | Scorpio(69 companies) | Oil tanker | 69 | 687,732 t | €22.0m | −11% | −7% |
| 2 | Nakilat Shipping Qatar Ltd | LNG carrier | 16 | 651,511 t | €17.1m | +14% | +14% |
| 3 | Frontline(36 companies) | Oil tanker | 36 | 380,773 t | €11.3m | −29% | −7% |
| 4 | Columbia Shipmanagement(3 companies) | Oil tanker | 40 | 345,050 t | €10.3m | −9% | +1% |
| 5 | MOL(3 companies) | LNG carrier | 14 | 421,640 t | €8.7m | +11% | +11% |
| 6 | GENEL DENIZCILIK NAKLIYATI A.S | Oil tanker | 23 | 241,260 t | €7.5m | −14% | +3% |
| 7 | NCL (Bahamas) Ltd. | Cruise | 8 | 175,758 t | €7.0m | +57% | +57% |
| 8 | Synergy Marine(5 companies) | Oil tanker | 29 | 218,054 t | €6.9m | −4% | −9% |
| 9 | FLEET MANAGEMENT LIMITED | Chemical tanker | 40 | 220,147 t | €6.9m | −2% | −5% |
| 10 | Federal (Fednav)(5 companies) | Bulk carrier | 50 | 210,360 t | €6.3m | +17% | −19% |
| 11 | KYKLADES MARITIME CORPORATION | Oil tanker | 19 | 214,267 t | €6.1m | −22% | +6% |
| 12 | Flex LNG Fleet Management AS | LNG carrier | 11 | 222,803 t | €6.1m | −9% | −9% |
| 13 | TECHNOMAR SHIPPING INC-LIB | Container | 16 | 206,455 t | €5.8m | −11% | +9% |
| 14 | NYK | LNG carrier | 4 | 214,824 t | €5.7m | – | – |
| 15 | SFL(22 companies) | Oil tanker | 22 | 181,392 t | €5.2m | −33% | −6% |
| 16 | V.Ships(6 companies) | Oil tanker | 42 | 170,068 t | €4.9m | −11% | +4% |
| 17 | Shell International Trading and Shipping Company Limited | LNG carrier | 10 | 188,046 t | €4.9m | +22% | +17% |
| 18 | TMS Group (Economou)(2 companies) | Oil tanker | 17 | 156,640 t | €4.7m | −30% | +3% |
| 19 | Anglo-Eastern(4 companies) | Chemical tanker | 27 | 114,641 t | €3.5m | −10% | −12% |
| 20 | ''K'' Line Energy Shipping (UK) Limited | LNG carrier | 2 | 132,663 t | €3.5m | – | – |
| 21 | Celsius Tech Limited | LNG carrier | 8 | 126,500 t | €3.4m | −23% | −23% |
| 22 | Vineta Bereederungsgesellschaft mbH | Other | 10 | 107,921 t | €3.4m | +2% | −8% |
| 23 | OSM Thome(5 companies) | Chemical tanker | 19 | 106,456 t | €3.3m | −37% | −11% |
| 24 | YASA TANKER ISLETMECILIGI A.S. | Oil tanker | 12 | 107,671 t | €3.3m | −38% | 0% |
| 25 | Ionic Shipping(2 companies) | Oil tanker | 9 | 94,719 t | €2.8m | −3% | +1% |
| 26 | Pantheon Tankers Management Ltd | Chemical tanker | 10 | 82,182 t | €2.8m | +24% | +23% |
| 27 | Central Mare Inc | Oil tanker | 6 | 89,429 t | €2.8m | −14% | +10% |
| 28 | Capital Maritime Group(4 companies) | Gas carrier (LPG) | 16 | 121,273 t | €2.7m | −12% | −22% |
| 29 | ALPHA GAS S.A. | LNG carrier | 5 | 97,621 t | €2.6m | −24% | −24% |
| 30 | STEALTH MARITIME CORP. S.A. | Gas carrier (LPG) | 20 | 83,784 t | €2.6m | +8% | −8% |
| 31 | Navios(4 companies) | Container | 7 | 75,049 t | €2.4m | +9% | −3% |
| 32 | LSC | Oil tanker | 18 | 74,548 t | €2.4m | +6% | −1% |
| 33 | Wilhelmsen Ship Management | Other | 4 | 81,153 t | €2.2m | – | – |
| 34 | Oman Ship Management Company LLC | Oil tanker | 8 | 71,192 t | €2.2m | −48% | −6% |
| 35 | Suntech Ship management Pte Ltd | Oil tanker | 9 | 73,877 t | €2.2m | −34% | −14% |
| 36 | Anglo Ardmore Ship Management Pte. Ltd. | Chemical tanker | 18 | 102,022 t | €2.2m | −26% | +9% |
| 37 | Tsakos(2 companies) | Oil tanker | 9 | 61,872 t | €2.2m | – | – |
| 38 | Baffin Investments Limited | Bulk carrier | 12 | 66,593 t | €2.1m | +18% | −15% |
| 39 | YA-SA GEMI ISLETMECILIGI VE TICARET A.S. | Bulk carrier | 21 | 67,683 t | €2.0m | −17% | −13% |
| 40 | AM Nomikos Transworld Maritime | Bulk carrier | 15 | 67,660 t | €1.9m | −11% | −1% |
| 41 | Eurobulk(2 companies) | Container | 5 | 62,578 t | €1.9m | −3% | −2% |
| 42 | Dynagas Ltd | LNG carrier | 7 | 68,982 t | €1.9m | +38% | +38% |
| 43 | Gram Car Carriers Shipowning AS | Vehicle carrier | 15 | 60,204 t | €1.8m | – | – |
| 44 | Conbulk | Container | 5 | 58,566 t | €1.8m | +190% | +26% |
| 45 | HMM(2 companies) | Container | 3 | 61,680 t | €1.7m | – | – |
| 46 | Tomini Transports L.L.C | Bulk carrier | 14 | 56,485 t | €1.7m | +14% | 0% |
| 47 | INTERUNITY MANAGEMENT CORPORATION SA | Chemical tanker | 13 | 55,396 t | €1.6m | +44% | +2% |
| 48 | Bernhard Schulte(3 companies) | Bulk carrier | 9 | 56,079 t | €1.6m | −29% | −4% |
| 49 | Atlas Maritime Shipmanagement Ltd | Oil tanker | 7 | 51,789 t | €1.5m | −24% | −9% |
| 50 | Fortius Ship Management Ltd | General cargo | 12 | 43,286 t | €1.4m | −45% | −45% |
Show by ISM company (DoC holder) instead of group
| # | Operator | Main segment | Shipsunder Marshall Islands | CO₂emitted, total | AllowancesEU ETS cost | vs segment medianlower is better | vs similar-size shipssame segment, lower is better |
|---|---|---|---|---|---|---|---|
| 1 | Nakilat Shipping Qatar Ltd | LNG carrier | 16 | 651,511 t | €17.1m | +14% | +14% |
| 2 | Columbia Shipmanagement (Deutschland) GmbH | Oil tanker | 25 | 248,386 t | €7.6m | −11% | −2% |
| 3 | GENEL DENIZCILIK NAKLIYATI A.S | Oil tanker | 23 | 241,260 t | €7.5m | −14% | +3% |
| 4 | NCL (Bahamas) Ltd. | Cruise | 8 | 175,758 t | €7.0m | +57% | +57% |
| 5 | FLEET MANAGEMENT LIMITED | Chemical tanker | 40 | 220,147 t | €6.9m | −2% | −5% |
| 6 | KYKLADES MARITIME CORPORATION | Oil tanker | 19 | 214,267 t | €6.1m | −22% | +6% |
| 7 | Flex LNG Fleet Management AS | LNG carrier | 11 | 222,803 t | €6.1m | −9% | −9% |
| 8 | TECHNOMAR SHIPPING INC-LIB | Container | 16 | 206,455 t | €5.8m | −11% | +9% |
| 9 | NYK LNG Shipmanagement Ltd | LNG carrier | 4 | 214,824 t | €5.7m | – | – |
| 10 | MOL GLOBAL SHIP MANAGEMENT PTE. LTD. | LNG carrier | 8 | 297,626 t | €5.4m | +19% | +19% |
| 11 | Shell International Trading and Shipping Company Limited | LNG carrier | 10 | 188,046 t | €4.9m | +22% | +17% |
| 12 | SYNERGY MARITIME PRIVATE LIMITED | Oil tanker | 18 | 151,453 t | €4.9m | −3% | −8% |
| 13 | TMS Tankers Ltd. | Oil tanker | 16 | 151,992 t | €4.5m | −24% | +3% |
| 14 | ''K'' Line Energy Shipping (UK) Limited | LNG carrier | 2 | 132,663 t | €3.5m | – | – |
| 15 | Celsius Tech Limited | LNG carrier | 8 | 126,500 t | €3.4m | −23% | −23% |
| 16 | Vineta Bereederungsgesellschaft mbH | Other | 10 | 107,921 t | €3.4m | +2% | −8% |
| 17 | YASA TANKER ISLETMECILIGI A.S. | Oil tanker | 12 | 107,671 t | €3.3m | −38% | 0% |
| 18 | Pantheon Tankers Management Ltd | Chemical tanker | 10 | 82,182 t | €2.8m | +24% | +23% |
| 19 | Central Mare Inc | Oil tanker | 6 | 89,429 t | €2.8m | −14% | +10% |
| 20 | ALPHA GAS S.A. | LNG carrier | 5 | 97,621 t | €2.6m | −24% | −24% |
| 21 | STEALTH MARITIME CORP. S.A. | Gas carrier (LPG) | 20 | 83,784 t | €2.6m | +8% | −8% |
| 22 | IONIC TANKERS (MGT) INC. | Oil tanker | 7 | 85,040 t | €2.5m | −3% | −6% |
| 23 | MOL SHIP MANAGEMENT (SINGAPORE) PTE. LTD. | Container | 4 | 93,636 t | €2.5m | – | – |
| 24 | LSC | Oil tanker | 18 | 74,548 t | €2.4m | +6% | −1% |
| 25 | V.Ships UK | Oil tanker | 15 | 76,048 t | €2.3m | −3% | −6% |
| 26 | Wilhelmsen Ship Management (Norway) AS | Other | 4 | 81,153 t | €2.2m | – | – |
| 27 | Oman Ship Management Company LLC | Oil tanker | 8 | 71,192 t | €2.2m | −48% | −6% |
| 28 | Suntech Ship management Pte Ltd | Oil tanker | 9 | 73,877 t | €2.2m | −34% | −14% |
| 29 | Anglo Ardmore Ship Management Pte. Ltd. | Chemical tanker | 18 | 102,022 t | €2.2m | −26% | +9% |
| 30 | Tsakos Shipping & Trading S.A. | Oil tanker | 4 | 61,872 t | €2.2m | – | – |
| 31 | Baffin Investments Limited | Bulk carrier | 12 | 66,593 t | €2.1m | +18% | −15% |
| 32 | YA-SA GEMI ISLETMECILIGI VE TICARET A.S. | Bulk carrier | 21 | 67,683 t | €2.0m | −17% | −13% |
| 33 | Capital Gas Ship Management Corp | Gas carrier (LPG) | 2 | 72,974 t | €2.0m | – | – |
| 34 | AM Nomikos Transworld Maritime | Bulk carrier | 15 | 67,660 t | €1.9m | −11% | −1% |
| 35 | Anglo Eastern Ship Management Pte. Ltd | Chemical tanker | 14 | 58,933 t | €1.9m | −10% | −17% |
| 36 | Dynagas Ltd | LNG carrier | 7 | 68,982 t | €1.9m | +38% | +38% |
| 37 | Gram Car Carriers Shipowning AS | Vehicle carrier | 15 | 60,204 t | €1.8m | – | – |
| 38 | CONBULK SHIPMANAGEMENT CORPORATION | Container | 5 | 58,566 t | €1.8m | +190% | +26% |
| 39 | Thome Croatia d.o.o. | Chemical tanker | 11 | 61,564 t | €1.8m | −38% | −16% |
| 40 | Columbia Shipmanagement Ltd | Oil tanker | 7 | 58,731 t | €1.8m | −19% | +16% |
| 41 | Federal Oceans Ltd. | Bulk carrier | 12 | 56,749 t | €1.7m | +17% | −24% |
| 42 | Tomini Transports L.L.C | Bulk carrier | 14 | 56,485 t | €1.7m | +14% | 0% |
| 43 | Navios Containers Management | Container | 2 | 51,029 t | €1.7m | – | – |
| 44 | Eurobulk Ltd | Container | 4 | 56,323 t | €1.7m | – | – |
| 45 | INTERUNITY MANAGEMENT CORPORATION SA | Chemical tanker | 13 | 55,396 t | €1.6m | +44% | +2% |
| 46 | Atlas Maritime Shipmanagement Ltd | Oil tanker | 7 | 51,789 t | €1.5m | −24% | −9% |
| 47 | FEDERAL CORNWALLIS LTD. | Bulk carrier | 15 | 52,221 t | €1.5m | +17% | −8% |
| 48 | Fortius Ship Management Ltd | General cargo | 12 | 43,286 t | €1.4m | −45% | −45% |
| 49 | Optra Shipping Ltd | Oil tanker | 6 | 47,640 t | €1.4m | −12% | −8% |
| 50 | EXECUTIVE SHIP MANAGEMENT PTE LTD | Oil tanker | 11 | 43,468 t | €1.4m | −3% | −11% |
- Allowances :
- EU ETS allowances due for the year, at the chosen price.
- vs segment median :
- CO₂ per transport work against the median segment ship. Below 0% is better.
- vs similar-size ships :
- CO₂ per transport work of the median ship, against the median ship of the same size band in its segment (whole segment where the segment has no size bands). Below 0% is better.
EU ETS allowances are not a tax: companies buy and surrender one allowance per tonne of CO₂ in scope. Figures use the 2025 phase-in share and an EUA price of €75 per tonne, which the commercial view lets you change. The flag is estimated from the port of registry; see the Flags page.