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When it comes to global trade, maritime shipping is the most cost-effective option. Trade across borders is dependent on the safe and efficient transport of goods over the sea, this is the reason why shipping companies are very much in demand. It has a wide range of connections to several sectors; food, medicine, and the best technological tools are just some of the many things that benefit from shipping. Cost-effective shipping methods are especially adhered to in the developing world for growth and sustainable development.
Every nation relies only on land-based trade; marine commerce is essential. For the simple reason that shipping on the ocean is what makes the world go 'round economically, trade and commerce can't function without it. Both raw materials and finished goods that we use every day are carried to us by these shipping companies. Here are the top 10 largest shipping firms in the world by TEU size (twenty-foot equivalent units):
Hyundai Merchant Marine
South Korean Hyundai Merchant Marine is one of the world's largest shipping businesses. The company was created 44 years ago and has since launched two of the world's largest container ships. With four worldwide headquarters, twenty-seven subsidiaries, seventy-six subsidiaries, five abroad offices, and ten communications offices, HMM has established a global business network.
They bring in between $1.200 million and $5,000 per year and use between 1,200 and 5,000 individuals. They can carry up to 392,314 TEU in their cargo holds.
Pacific International Lines (PIL)
Established in the Lion City Singapore 53 years ago, the corporation now counts over 18,000 workers on its payroll. With a fleet of 153 vessels, the company's primary area of expertise is container shipping; these containers are then delivered to 500 ports in continents such as Africa, Asia, the Middle East, Oceania, South Asia, North America, and the Black Sea.
The PIL have 18 thousand workers and $4 billion in annual sales. A total of 393,498 TEU may be carried by them.
Yang Ming Marine Transport Corporation
The 48-year-old Taiwanese firm has a fleet of over a hundred ships. Having an operational capacity of 7.74 million deadweight tons, they service over 70 countries via 170 ports. They have container terminals in the United States, Taiwan, the Netherlands, and Belgium. They have nearly 5,000 employees, giving them the capacity to handle 644,185 TEU.
Evergreen Marine Corporation
They are a shipping corporation based in Taiwan that employs over 3,000 people and generates over $4 billion in yearly revenue. Its primary shipping lanes run from the Far East to the Americas and the Caribbean; and an intra-Asian service connecting Asian ports to the Middle East, the Persian Gulf, and the Red Sea.
They operate a fleet of approximately 200 container ships with a combined TEU capacity of 1,303,420, servicing 240 ports throughout the globe.
ONE (Ocean Network Express)
The firm, which is owned by a number of Japanese corporations and has offices in both Singapore and Tokyo which has some of the most expensive hotel suites. The company was founded only three years ago in 2017. The joint venture between K-Line, Nippon Yusen Kaisha, and Mitsui OSK Lines has an outstanding 1,579,868 TEU capacity for a corporation of its youth. The company is worth 2.87 billion dollars and employs 14,000 employees.
Hapag-Lloyd
German shipping giant Hapag Lloyd was established in 1970 and has grown rapidly since its inception. Its headquarters are in Hamburg, and it employs over 13,000 people and generates over $12 billion in annual sales. The 1,688,396 TEU capacity of this firm allows it to make stops at 600 ports throughout 128 countries.
In addition to serving as an ocean carrier for Intra-America, Latin American, and Transatlantic commerce, as well as the Middle East, its 118-vessel fleet provides liner services all over the world.
CMA CGM Group
CMA CGM, with headquarters in Marseille, is the largest shipping corporation in France. The initials stand for "Sea Freight Company" (CMA) and "General Marine Company" (CGM), the names of the company's forerunners. Although its headquarters are in France, its operations span 160 separate firms, 755 separate agencies, and 750 separate storage facilities. CMA CGM group employs 110,000 people and transports 2,696,710 TEU.
China Cosco Shipping
Cosco Shipping, headquartered in the most expensive city in the world, Shanghai. It is the largest shipping firm in China. In 2016, China Shipping Company and COSCO Group merged to form the present-day entity. It's home to one of the world's largest commercial fleets. Over the course of a year, COSCO calls on over a thousand ports across the world with its fleet of over 10,000 ships, 360 of which are dry bulk tankers. They bring in 7.2 billion RMB in sales and employ 130,000 people (renminbi).
Mediterranean Shipping Company S.A (MSC)
The Mediterranean Shipping Company began operations in 1970, making it a half-century old institution. The firm is the world's second largest shipping corporation and has been for some time. They're a private corporation with a fleet of 500 container ships and a total TEU capacity of over 3 million. MSC delivers dry and refrigerated cargo to 500 ports on 200 trade routes throughout the world. They bring in over $28 billion a year and employ over 70,000 people.
AP Moller-Maersk Group
When comparing the 15 largest shipping corporations in the world, the Danish firm Maersk comes out on top. In business since 1904 with headquarters in Copenhagen, Denmark. Their fleet of ships and containers is the largest in the world, and they also run logistics and transportation businesses through a number of their subsidiaries.
They're in business in over 130 nations and move around $675 billion in commodities each year. They have a workforce of 76, 000 workers and a total TEU throughput of 4, 175, 117.
Sources: Investopedia, Ship Technology, Sinay