Now we are coming up with the list of the largest shipping companies in the world. Insider Monkey gives you lots of interesting information about this topic. The shipping industry relies on many factors to determine its performance. The most important is the global economy, as it directly affects international trade. After the last recession, global economic growth slowed down and exports volumes saw an average annual growth rate of 2.9% between 2008 and 2015, which is less than half of the what the rate was during the period between 2001 and 2008, according to the International Monetary Fund.
This created a major headwind for the global shipping industry, which had to start lowering prices for shipping goods. The Baltic Dry Index, which measures changes in the cost of transportation of raw materials through aggregating data for 23 shipping routes and four different sizes of bulk cargo ships, is over 85% down compared to 2008, even though it has advanced by over 95% in the last year after having touched its lowest level ever in February 2016.
Now without a further ado let’s see what Insider Monkey has investigated for us. We have picked three of the largest shipping companies in the world from their list.
The first one is Hyundai M.M. Hyundai M.M. stands for Hyundai Merchant Marine, a South Korean company that is responsible for the largest volume of exports from the country, which makes it the local market leader and it has further strengthened its position after the bankruptcy of Hanjin. Over the years, Hyundai M.M. has established a global network that includes four international headquarters, 27 subsidiaries, 76 branches, five overseas offices and 10 liaison offices.The second company is Zim. Zim Integrated Shipping Company is the biggest shipping company in Israel and it is based in Haifa, with a second headquarters in Norfolk, Virginia. Zim operates 73 ships, including six company-owned and 67 chartered. In the last four decades, Zim Integrated Shipping Company tried to become a publicly-traded company three times, in 2008, 2011, and 2016, but all attempts were abandoned. At last, but not least let’s check NYK Line. Nippon Yusen Kabushiki Kaisha, the number 11 in our list of top 15 largest shipping companies in the world is one of the oldest shipping companies in the world, having been founded in 1885. The company operates 93 ships, including 40 company-owned and 53 ships that are chartered. Nippon Yusen Kabushiki Kaisha is based in Marunouchi, Chiyoda-ku, Tokyo and generates annual revenue of around $21.22 billion.
For any further useful information, read Insider Monkey’s article about 15 largest shipping companies in the world.