When it comes to finding an economical transportation source, shipping tops the list. There are various shipping companies but the largest of them are global and have access to various global ports. One thing is very surprising that none of the global shipping companies are based in the US. Companies including Genco Shipping & Trading Limited, Matson Inc., Globus Maritime Limited, Performance Shipping Inc and Sino-Global Shipping American are the ones that are listed in the US. Asia, specifically China, dominates the shipping industry. This mode of transportation is preferable by traders as well as the bulky cargoes are handled easily. The air route is quicker, but it is expensive and not suitable for large and huge consignments. The shipping industry was among those trades which have felt the sheer impact of the global pandemic. Due to lockdowns, the trade volume was directly affected, which resulted in low revenue generation within the industry. Once business activities get normal, it is likely that the global trade will gain momentum once again and the shipping industry will witness a boom. In this article, we will review the Top 10 Global Shipping Companies in terms of size and the number of ships owned by the company as shared by Insider Monkey. Let us see which company is the champion of this industry and for how long it is in this business.
IRISL Group is Iran’s largest shipping company and is among the global companies as well despite sanctions imposed. Due to sanctions, the country has limited business opportunities. IRISL Group’s revenue dropped considerably due to global sanctions. According to sources, the company’s revenue fell below $1 billion. Currently, as of data available from 2020, the company owns 47 ships, and it has a market share of 0.6%. Another company, Zhonggu Logistics, is one of the biggest global companies. It is a Chinese company with 114 ships. Zhonggu Logistics is among the Chinese biggest transportation companies with an estimated market share of 0.7% as of data available for the year 2020. This company held an IPO recently from where it raised around $200 million. The company now plans to buy more ships and improve its global ranking among other shipping companies. This was a brief introduction about a few companies. Are you interested to check out details about more companies? Read this article 15 Biggest Shipping Companies In The World on Yahoo.