To understand how Norway’s success in the shipbuilding and shipping industry, you have to first understand its long maritime tradition that stretches back over 150 years, and has set the stage for its influential role within these sectors. This is made all the more impressive that the country has a population of just 5.5 million and it’s still a definitive leader in the maritime industry. In 2023, the country controlled the world’s fourth-largest merchant fleet by value ahead of even the United States. The Norwegian shipping industry operates 1,634 ocean-going vessels globally. The fleet includes offshore service and specialty vessels, oil tankers, bulk carriers, chemical and gas tankers (LNG and LPG), car carriers, and cruise ships. Significantly, Norway’s fleet has relatively limited exposure to the volatile container shipping market, which has been affected by global trade disruptions and fluctuating freight rates. Norway’s geographical and economic reliance on the sea is deeply rooted. With over 20,000 kilometers of rugged coastline (126% longer than the U.S.) and the majority of its urban centers located by the water, maritime transport has historically been the backbone of domestic mobility and trade. The strength of Norway’s maritime position lies not only in its fleet, but in its comprehensive maritime ecosystem. The Norwegian maritime cluster is considered one of the most advanced in the world. It spans the entire value chain—shipowners, shipyards, marine equipment manufacturers, maritime education and research institutions, financial and insurance services, classification societies, and regulatory authorities all collaborate to drive innovation and sustainability. Sustainability is, in fact, central to the industry's forward strategy. The Norwegian Shipowners’ Association, in close cooperation with the government, has taken a leading role in advocating for zero-emission shipping on the international stage. The country is a vocal and proactive member at the International Maritime Organization (IMO), pushing for stricter environmental standards.