Written by Jason Chuah. Taiwan, with her economic strength in shipping, could perhaps be likened to a first-class marathon athlete running in the Olympics with flipflops unless it modernises its commercial maritime law. UNCTAD reports in its 2019 Shipping Outlook Report that Taiwan ranks 11 in terms of “ownership of world fleet ranked by dead-weight tonnage.” This is one place above the UK and only two places below the US. In terms of monetary value, it is ranked number seven in the world for ownership of bulk carriers (excluding oil tankers) and in the top 20 ship owning countries by value. Yang Ming and Evergreen are in the top 20 of terminal operators in the global league table.