The number of UK registered ships is currently at its lowest level since 2006, according to 2014 Shipping Fleet Statistics released by the UK Transport Department. The UK fleet experienced substantial growth between the late 1990s and 2008/09, when the industry started to feel the impact of the global recession. However, since 2009 there has been a period of decline, with measures falling by between 16% (UK managed ships) and 27% (UK registered ships).

Despite the decline in recent years, the UK registered fleet is still four times the size it was in the late 1990s, having increased from 2.7 million dwt to 12.6 million dwt. Over the same period, UK direct owned tonnage more than doubled, from 7.2 million dwt to 16.5 million dwt. Container ships accounted for much of the larger share of the UK registered fleet than the UK owned fleet. In 2014 the UK fleet fell from 16th place to 20th place globally, in terms of deadweight tonnage, decreasing by 17%.

Panama remained at the top of the global ranking at the end of 2014, although the deadweight tonnage dropped by 1% compared to 2013. There was little change in the size of the Liberian fleet compared to 2013, and it is still ranked at second place. The Marshall Islands have seen the biggest increase in the deadweight tonnage of registered vessels over the year (7%). In 2014, the top 10 nations held 77% of total deadweight tonnage, whilst the UK held less than 1%. Of the 19 vessels registered in the UK in 2014, 7 were newbuilds coming into operation for the first time.