16 Biggest Shipping Companies in the World Ranked by Tonnage

This piece of writing will explore the 16 largest shipping enterprises globally. If you prefer not to read our in-depth examination, you may directly review the 5 biggest shipping firms worldwide.

In 2020, the Covid-19 pandemic caused major disruptions across the world, affecting various industries. However, its impact on the global supply chain and shipping sector is still being felt over three years later. The shipping industry, particularly the largest global shipping companies that serve diverse sectors with a focus on manufacturing, is crucial to the global economy. Without a well-functioning supply chain, companies, especially those with a multinational presence, cannot ensure the continued growth of their operations. This situation can lead to shareholder frustration.

If a company doesn't have a good system for managing the flow of products, it may order too much of something because it's not sure when it will arrive. This can mean that the company has to spend more money on storing things and that reduces their profits. On the other hand, a company could be relying on its supply chain to provide what it needs on time, but then there could be a delay. This can mean that the company can't sell things when they were expecting to and it damages their reputation. Big companies have teams of people who work on making sure that everything runs smoothly so they don't have these kinds of problems.

The top 16 largest shipping companies in the world are: 1. AP Moller-Maersk 2. MSC 3. CMA CGM 4. COSCO Shipping 5. Hapag-Lloyd 6. ONE 7. Evergreen Line 8. Yang Ming Marine Transport 9. PIL 10. ZIM 11. Wan Hai Lines 12. Hyundai Merchant Marine 13. IRISL 14. NileDutch 15. Samudera Shipping Line 16. SITC These companies are ranked according to their container shipping capacity and the number of ships they own. They all play a significant role in the global economy by facilitating international trade and commerce. As countries continue to expand their trade and increase their import and export activities, these shipping companies will remain important players in the global logistics industry.

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Freight rates, which are the costs of moving goods from one location to another, increase when the global supply chain experiences shortages. These shortages have caused considerable challenges for the largest shipping companies in the world, such as port congestions and capacity shortages. As a result of this disruption, 67% of CEOs have vowed to invest more in processes that will enhance their detection of potential disturbances and innovation so that they can prevent them effectively. However, in the second half of 2022, there was a significant decrease in freight rates, and Daniel Richards, an analyst at Maritime Strategies International, noted that many contracts would need to be renewed in the first half of 2023, with shipping lines not standing on an excellent position to negotiate. Blank sailings that were successful during the early stages of the pandemic have not proven as effective lately, and the declining spot rates are expected to have an impact on contract rates. Maersk, in its earnings call for Q4 2022, mentioned a drop in spot rates and import volumes into North America and Europe from Asia. This drop is due to large retailers and lifestyle brands carrying out inventory corrections that reduced import volumes by the mid-20s percentages. The spot rate's drop is having a significant impact during annual contract negotiations throughout the industry, and it is expected that 2023 average contract rates will align with current spot rates.

The world's largest shipping companies are becoming increasingly important as global trade continues to grow. Compared to our previous article on the biggest global logistics and shipping companies, most of these companies have experienced significant growth. The global supply chain has been greatly impacted by China's decision to remain closed long after other countries had reopened post-Covid. This was due to a failed attempt at a zero-Covid policy. However, China has recently abandoned this policy and begun to reopen, which should improve the flow of goods through Chinese shipping routes. Although this may alleviate supply chain strain, there is concern that the transition may not be smooth, resulting in short-term difficulties. This could provide further opportunities for growth for the largest shipping companies in the world.

It's been impossible to discuss global shipping over the last year without mentioning the Russia-Ukraine war's impact. As Europe was beginning to recover from lockdowns due to the Omicron Covid-19 variant at the start of 2022, Russia invaded Ukraine, starting a war that's been ongoing for over a year with no end in sight. Western nations quickly imposed sanctions on Russia, a major oil and gas exporter, which added more strain to an already vulnerable shipping industry.

Currently, there is another element that is affecting the supply chain, and it is likely that it will have a significant impact throughout 2023 and possibly beyond. This element is the possibility of a financial downturn. Although it appears that most European countries will avoid an economic crisis, and the situation isn't as drastic as previously anticipated for the United States during Q3 of 2022, many nations may not be as fortunate. Even economies that aren't experiencing a decline in GDP will grow at a slower pace than they did in 2022. This decrease in growth will lead to a decrease in industry, resulting in lower demand and ultimately affecting the shipping industry.

The world's largest shipping companies are expanding their fleets, but there may be concerns ahead as demand is predicted to slow down in 2023, with a rebound expected in 2024. Maritime Strategies International's analyst, Daniel Richards, has warned that trade growth is likely to decline due to overbuilt inventories and increased borrowing costs in the housing market. Additionally, inflation has hit household disposable income, which will negatively impact trade in the first half of 2023. MSI predicts that fleet growth will be 7% each year in 2023 and 2024, and although slightly lower, still higher than the average in 2025. If the number of scrapings is lower than expected, growth rates could even reach double digits.

The biggest shipping companies in the world are trying to improve their digital innovation. ZIM Integrated Shipping Services Ltd. reports that the Digital Container Shipping Association (DCSA), which comprises most of the largest shipping companies, was established in 2018 to establish IT standards. DCSA members have committed to achieving 15% electronic bills of lading within five years and 100% by 2030. ZIM was one of the first to introduce electronic bills of lading in 2017 and now other major shipping companies are also providing solutions to their customers.

Discovering which are the largest shipping companies in the world is a challenging task. While Forbes provides a list of the top global companies, those specializing in shipping are not heavily represented. Additionally, ranking companies based on market value, revenue, and profits is difficult as many are private and keep information hidden. Therefore, we've looked at two important factors: the TEU capacity of each company and the number of ships they own and charter. These criteria have been weighted with 70% importance given to the former and 30% to the latter. Our information has been sourced from Alphaliner. So, let's take a closer look at the major players in the shipping industry, starting with:

"X-Press Feeders: Connecting Global Ports"

The overall number of TEUs for the company in 2022 is 141,963.

The company has a combined total of 90 ships, which includes those owned by them and rented from others.

The Singaporean shipping business X-Press Feeders Group decreased its capacity in North Europe, causing its portion of the market to drop to 2.7% in that area.

The estimated number of TEUs for our company in 2022 is 148,659.

The company has a grand total of 65 ships, which includes both those that are owned and those that have been chartered.

One of the biggest shipping companies in the world, KMTC, hails from South Korea. This company experienced significant growth, with their revenue increasing by 91% year-on-year. They have surmounted the $3 billion revenue mark.

"Zhonggu Logistics: Streamlining Global Supply Chains"

The company's total TEU for the year 2022 is 146,436.

The entire amount of ships belonging to the corporation (including those rented): 101.

Zhonggu Logistics Corp is a Chinese enterprise that has been running successfully for more than 20 years now. It is renowned as the biggest container shipping company, stationed on China's coasts. Recently, Zhonggu Logistics Corp joined hands with logistics firm Sinotrans to widen its range of services within the Asian region.

"Pacific International Lines: Shipping Solutions."

The amount of TEUs that the company will have in 2022 is 296,083.

The company has a combined fleet of 90 vessels, which includes both owned and leased ships.

Pacific International Lines, based in Singapore, provides services to over 500 destinations in 90 countries worldwide.

The company is projected to have a total of 167,447 TEU in 2022.

The company possesses a grand sum of 109 ships, including those owned by them and the ones they've chartered.

SITC International offers 77 different shipping routes that reach across 16 nations. Thanks to the growing popularity of shipping containers, SITC has experienced a significant increase in their profits — a whopping 67% jump in the year 2022!

"Discover Wan Hai Lines: A Leading Shipping Company"

The company is expected to have a total TEU of 444,069 by 2022.

The overall count of the company's vessels, including those that have been leased and the ones that have been bought, is 135.

In March of 2023, the Federal Maritime Commission levied a fine of almost $1 million against Wan Hai Lines, a company based in Taiwan that specializes in shipping. The fine was imposed for not adhering to fair and reasonable regulations regarding the charges assessed on containers in situations where there were no return locations available with corresponding appointments.

"Yang Ming: A Leading Marine Transportation Company"

In the year 2022, the company will have a grand total of 705,614 TEUs.

The overall quantity of ships belonging to the corporation, which they either own or rent, is 93.

Taiwan's biggest shipping firm, Yang Ming Marine Transport Corporation, has achieved its greatest feat to date in 2022. In regards to revenue and net profit, the company has crossed the stunning milestone of $12.6 billion and has gained over $6 billion in after-tax profits. The main contributors to this remarkable accomplishment were the superb average freight rates and the vigorous demand.

"Discover HMM Company's Expertise"

The complete number of TEU that the company will have in the year 2022 is 816,365.

The entire fleet of the corporation (comprising both owned and chartered vessels) amounts to a count of 75.

HMM, a big shipping company from South Korea, is teaming up with multiple other companies to work on creating ships that run on small modular reactors. This partnership aims to develop, prove and start selling these types of vessels. This is a hot topic because regulations related to harmful emissions in the shipping industry are strict, and nuclear ships are being seen as a viable option.

"ZIM Shipping Services: NYSE Listing "

By 2022, the company will have a total TEU of 562,140.

The overall count of vessels operated by the organization (including ones possessed by them and ones leased) is 139.

ZIM Integrated Shipping Services Ltd., a large company in Israel, experienced a better-than-anticipated Q4 2022, which caused its shares to soar in recent days. This strengthened its position as one of the biggest shipping companies globally.

- Ocean Network Enterprise

The amount of containers that the company will have in 2022 is 1,526,631 TEUs.

The entirety of the company's ships, including those that are owned and those that have been leased, amounts to a total of 204.

Less than six years ago, Japan's biggest shipping company, ONE, was created. In March of 2023, ONE secured 10 cutting-edge, wide container ships that will hold over 13,700 TEU. The ships are expected to be delivered in 2025 and 2026.

The company's TEU count for 2022 will be 1,663,046.

The overall amount of vessels in the possession of the corporation, including both owned and leased ones, is equal to 209.

Although Evergreen Line is a massive shipping conglomerate, its reputation took a hit when their vessel, Ever Given, got trapped in the Suez Canal earlier this year. The incident resulted in around $9.6 billion worth of trade being halted until the ship could be freed. Recently, due to the catastrophic earthquake in Syria-Turkey, Evergreen Line had to halt all activities at Iskenderun Port.

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Disclaimer: There is no financial interest involved. Insider Monkey originally posted an article about the top 16 shipping companies worldwide.