Denmark stood alone among the world’s top shipowning nations in seeing the value of its fleet rise last year.

The Danish fleet entered 2016 with an overall value of $22.97m, up 18% year on year, according to figures from VesselsValue.com.

A high concentration of tankers and limited direct ownership of dry cargo vessels has helped Denmark’s position. A $3bn rise in the price of its boxships also helped tip the scales in its favour, data provided to TradeWinds shows.