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)
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