Shipping industry is believed to be the most economical mode of transportation for trading businesses. Since coronavirus emerged from China, at that time it was yet unknown that this pandemic will engulf the entire globe. It ditched the world into recession and complete lockdowns. According to analysts, it will take 3-4 years for the world economies to recover from the effects of this pandemic. As a result of the global recession and slowdown, the shipping industry is amongst those sectors that have experienced sheer loss and standstill. It is due to lockdowns that global trade was hard hit and more and more companies went depression, reducing global trade to a great extent. It was during summer when several parts of the world were still under lockdown and shipping was at the peak during corresponding period, last year. The most affected shipping segment was grain, coal and iron ore supplies. Things are still uncertain as the world is suffering from the second wave. A different virus strain has been found in Europe, which has been placed under strict lockdown once again. The future of the shipping industry is uncertain. This article provides comprehensive information about Top 10 Shipping Companies as share by Insider Monkey.
Hapag-Lloyd is one of the popular and largest global shipping company. This company came into being around 5 decades ago in the year 1970. It is headquartered in Hamburg, Germany and has 13,000 workers. According to the available data, the market share of Hapag-Lloyd to date is 7.2% and the company owns 240 ships worldwide. In terms of finance, the company earned revenue of $12 billion in the year 2019 alone. Another notable shipping company is Mediterranean Shipping Company. It is an Italian-Swiss company with over 30,000 workers. This company has a market share of 16%, as per the data available for the year 2020. Moreover, according to sources, the company owns 579 ships for marine transportation. This company came into being way back in the year 1970 and operates across the globe with links to all major ports of the world. Mediterranean Shipping Company is the second largest shipping company of the world for quite some time now. As per available documents, the company earned over $28 billion during 2019 alone. We provided brief introduction about two major shipping companies in this article. There are other companies as well about which you can find information on this 15 Biggest Companies In The World Yahoo article.
