Monday, October 26, 2020

Global Shipping sees US$ 23 bn increase in market value

The global shipping is rebounding well from the coronavirus shock. Since the depth of the global pandemic lockdowns in mid-March, the world’s biggest shipping companies have added over $23 billion to their market value.

Shareholders who would have invested in global shipping at that moment would have seen an 85% increase in the value of their shares.The biggest global shipping companies have earned over $140 billion in revenue over the past twelve months alone.

40% of these revenues were earned from just three companies alone. These were the three Japanese giants that dominate global shipping, Nippon Yusen Kabushiki Kaisha, known as NYK Line ($25 billion revenue), Mitsui OSK Lines, known as MOL ($14 billion revenue) and Kawasaki Kisen Kaisha, known as ‘K’ Line ($13 billion revenue). Combined, they would be almost 40% larger than Danish giant Maersk.

Many of the ships that are used by these companies are registered in ‘Flags of Convenience’ countries such as Panama, Marshall Islands and Liberia. (www.hellenicshippingnews.com)

Author:

0 comments: