15 Most Valuable Shipping Companies in The World

Published February 10, 2023 at 2:42 pm EST Updated August 19, 2026 at 9:21 am EDT

The shipping and container companies play an important role in the global as well as local economies across the globe. These companies are responsible for the transportation of raw materials, commodities, and finished goods across the oceans through various vessels.

Recent Trends

Container and shipping supply chain has been in crisis mode since the onset of the global covid19 pandemic in early 2020. There were several factors that led to the crisis according to an S&P Market Intelligence report. The biggest factor was a massive shift in consumer spending in the U.S. from services to home improvement, and from brick and mortar to e-commerce, resulting in a 20% increase in US import container volumes in 2021 as compared to 2019.

The increased demand turned into a problem with port congestions, closure of Suez Canal in March 2021, as well as the shutdown of Yantian port in South China in the spring, one of the largest marine terminals in the world. The congestion resulted in the removal of 10-15% of container shipping capacity, according to estimates, which led to a three to five times increase in spot container freight rates.

Outlook

Global trade is expected to stabilize in the next few years as the global industry recovers from the coronavirus pandemic as well as other issues such as port congestions. In addition, the easing of lockdowns in China, one of the largest exporters worldwide, is also expected to support this phenomenon. On the other hand, shipping and container industry is expected to return to pre-covid levels, with container freight rates expected to decline to an “average of about $2,000-3,000 per box (FEU) in 2023-24 from an average of about $7,000 FEU in 2021-22”, according to S&P Global Market Intelligence report.

In the near term, the demand side for shipping and container industry services is subject to global recession – expected to last at least two quarters, high inflation, and energy crisis. On the supply side, the fleet growth in the dry bulks sector is expected to slow down to 1-2% per annum while the container market is facing supply side pressure due to a high growth rate in container fleet, expected to reach 6.8% in 2023.

Methodology

We used multiple stock screeners to shortlist companies that operate in the shipping industry across the world with shares traded in the public markets. The shortlisted stocks were then ranked based on their respective market capitalization to find out the 15 most valuable shipping companies in the world.

15. Frontline PLC (NYSE:FRO)

Market Capitalization as of February 9: $3.42 billion

Limassol, Cyprus-based Frontline PLC (NYSE:FRO) is a leading seaborne and refined products transportation services provider. Its fleet consists of 69 vessels, including 20 VLCCs, 29 Suezmax Tankers, and 20 LR2/Aframax tankers, with an aggregate capacity of 12.8 million DWT.

In July 2022, Frontline PLC announced that it had signed a definitive agreement to merge into Euronav NV (NYSE:EURN) in a stock-based transaction with an exchange ratio of 1.45 Frontline PLC shares for 1 share of Euronav NV (NYSE:EURN). On January 9, 2023, Frontline PLC announced that it had terminated the agreement for the merger.

Frontline PLC has a dual listing and its shares trade on the New York Stock Exchange as well as the Oslo Stock Exchange and currently has a market capitalization of $3.42 billion. As of Q3 2022, 18 of the 920 prominent hedge funds tracked by Insider Monkey held shares of Frontline PLC with a total value of $241 million.

14. National Shipping Company of Saudi Arabia (Bahri)

Market Capitalization as of February 9: $3.64 billion

National Shipping Company of Saudi Arabia SJSC (TADAWUL:4030), also known as Bahri, is one of the world’s leading transportation companies. Founded in 1978, the Riyadh-based company focuses on the transportation of Oil, Chemicals, General Cargo, and Dry Bulk. Its fleet comprises of 95 vessels including 40 VLCCs and product tankers, 40 chemical and product tankers, 6 multipurpose vessels, and 9 dry bulk carriers, with an aggregate capacity of more than 13 million DWT.

National Shipping Company of Saudi Arabia SJSC (TADAWUL:4030) generated a revenue of SAR 2.3 billion and a net income of SAR 306 million, for the three months ended September 30, 2022.

13. Kirby Corporation (NYSE:KEX)

Market Capitalization as of February 9: $4.4 billion

Houston, Texas-based Kirby Corporation (NYSE:KEX) is the premier tank barge operator in the United States, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, along all three U.S. Coasts, and in Alaska and Hawaii.

The inland fleet of Kirby Corporation consists of 1,037 tank barges with 23.1 million barrels of capacity and 277 towboats, while its coastal tank barge fleet consists of 29 tank barges with 3.0 million barrels of capacity and 27 tugboats. In addition, the company also operates 4 offshore dry-bulk cargo barges, 4 offshore tugboats and 1 docking tugboat.

As of Q3 2022, 23 of the elite hedge funds tracked by Insider Monkey held Kirby Corporation shares, valued at $297 million. Ric Dillon’s Diamond Hill Capital was its largest hedge fund shareholder with ownership of 1.8 million shares valued at $110 million.

12. Kawasaki Kisen Kaisha, Ltd. (K Line)

Market Capitalization as of February 9: $6.34 billion

Kawasaki Kisen Kaisha, Ltd. (TYO:9107), commonly known as the “K Line”, is a marine transportation company based in Tokyo, Japan, founded in 1919. It is among the leading marine transportation companies of the world with a fleet that comprises of 434 vessels with an aggregate capacity of 37 million DWT.

The fleet of Kawasaki Kisen Kaisha, Ltd. (K Line) includes 174 dry bulk vessels, 31 thermal coal carriers, 43 LNG carriers, 15 tankers, 83 car carriers, and 41 containerships, among others. It generated operating revenues of ¥729 billion ($5.6 billion) and a net income of ¥638 billion ($4.9 billion), for the nine months ended December 31, 2022.

11. Yang Ming Marine Transport Corporation (TWSE:2609)

Market Capitalization as of February 9: $7.11 billion

Yang Ming Marine Transport Corporation (TWSE:2609) is a marine transportation company based in Keelung, Taiwan and founded in 1972. It offers scheduled container transportation, global bulk transportation, logistics, and terminal services and has a fleet of 94 vessels with an operating capacity of 8.050 million DWT.

Yang Ming Marine Transport Corporation (TWSE:2609) generated a revenue of $3.41 billion and a net income of $1.7 billion for the third quarter of 2022.

10. Wan Hai Lines Ltd (TWSE:2615)

Market Capitalization as of February 9: $7.12 billion

Taipei City, Taiwan-based Wan Hai Lines Ltd (TWSE:2615) is a shipping company founded in 1965. The company focuses on international marine transportation, shipping agencies, container storage service, and the sale and rental of vessels and containers. It has a fleet of nearly 150 vessels including 3 vessels added to the fleet in December 2022.

Wan Hai Lines Ltd (TWSE:2615) generated an operating revenue of $2.1 billion and a net income of $746 million, for the three months ended September 30, 2022.

9. MISC Berhad (KLSE:MISC)

Market Capitalization as of February 9: $7.5 billion

MISC Berhad (KLSE:MISC), formerly known as Malaysia International Shipping Corporation Berhad, is a leading international maritime transportation company based in Kuala Lumpur, Malaysia. Founded in 1968, the company focuses on energy shipping, offshore floating solutions, marine repair and conversion, engineering and construction works, integrated marine services, port management and maritime services.

MISC Berhad (KLSE:MISC) generated a revenue of MYR 3.6 billion ($849 million), and a net income of MYR 822 million ($193 million), for the three months ended September 30, 2022. Its fleet comprises of more than 100 vessels including LNG and Ethane carriers, Petroleum and Product vessels, Floating Production Systems (FPS) as well as LNG Floating Storage Units (FSU) with an aggregate capacity of more than 13 million DWT.

8. HMM Co., Ltd. (KRX:011200)

Market Capitalization as of February 9: $8.6 billion

Seoul, South Korea-based HMM Co., Ltd. (KRX:011200), is a global integrated logistics company. Formerly known as Hyundai Merchant Marine, the company was founded in 1976 and currently has a fleet of 101 vessels including 72 containerships with a capacity of 0.8 million TEU, and 29 tankers, dry bulkers, and multipurpose vessels with an aggregate capacity of 4.26 million DWT.

HMM Co., Ltd. (KRX:011200) generated a revenue of $11.3 billion and a profit of 6.5 billion during the first 9 months of 2022. Earlier in July 2022, the company had announced its strategic plan to diversify its business portfolio for future growth. The strategic plan includes an investment of KRW 15 trillion ($12 billion) in multiple areas, including the accumulation of ships, terminals, and logistics facilities in the next five years.

7. Mitsui O.S.K. Lines Ltd. (TYO:9104)

Market Capitalization as of February 9: $9.2 billion

Mitsui O.S.K. Lines Ltd. (TYO:9104) is a marine transportation company based in Tokyo, Japan. The company was founded in 1884 and currently has a fleet of 696 vessels including dry bulkers, tankers, LNG carriers, car carriers, containerships, ferries, passenger ships, and others, with an aggregate capacity of 51.7 million DWT.

Mitsui O.S.K. Lines Ltd. (TYO:9104) generated a revenue of ¥1.26 trillion ($9.47 billion) and a net income of ¥725.6 billion ($5.5 billion) during the nine months ended December 31, 2022.

6. Evergreen Marine Corporation (TWSE:2603)

Market Capitalization as of February 9: $10.5 billion

Evergreen Marine Corporation is a container transportation and shipping company based in Taoyuan City, Taiwan, and founded in 1968. It is mainly engaged in domestic and international marine transportation, shipping agency services, commercial port area ship repair services and the distribution of containers. The company currently boasts a fleet of more than 160 container vessels.

Evergreen Marine Corporation covers 114 countries with its shipping network through a service network that comprises more than 300 locations. It generated an operating revenue of NTD 516 billion ($17.2 billion) and a net income of NTD 315 billion ($10.5 billion) for the nine months ended September 30, 2022.

5. Orient Overseas Container Line

Market Capitalization as of February 9: $11.8 billion

Hong Kong-based Orient Overseas (International) Limited (HKEX:0316), doing business under the trade names “Orient Overseas Container Line” and “OOCL”, is one of the world’s largest integrated international container transportation and logistics companies with a network that encompasses Asia, Europe, the Americas, Africa, and Australasia.

Orient Overseas Container Line has a fleet of more than 100 vessels with an operating capacity of more than 750,000 TEU. The company ordered 12 container vessels with 23,000 TEU capacity each, in 2020 and 10 container vessels with 16,000 TEU capacity in 2022. The delivery of these vessels is expected to start from 2023, and between Q4 2024 to Q4 2025, respectively.

The massive increase in container rates benefited Orient Overseas Container Line significantly as the company managed to boost its top and bottom lines during 1H 2022. Its revenue increased by 58% y-o-y to $11.1 billion while net income surged by 101% y-o-y to $5.7 billion.

4. Nippon Yusen Kabushiki Kaisha (TYO:9101)

Market Capitalization as of February 9: $12.6 billion

Nippon Yusen Kabushiki Kaisha, also known as NYK Line, is a global shipping and logistics company based in Tokyo, Japan, and founded in 1885. Its fleet comprises of 658 vessels with an aggregate capacity of 56.4 million DWT, and includes 55 container ships, 382 bulk carriers, 108 car carriers, 68 tankers, and 45 other vessels.

On February 3, Nippon Yusen Kabushiki Kaisha released its financial results for the nine months ended December 31, 2022. Its revenue increased by 22% y-o-y to ¥2.05 trillion ($15.5 billion), while net income surged by 33% y-o-y to ¥920 billion (7.0 billion).

In January this year, Nippon Yusen Kabushiki Kaisha ordered its fifth dual-fuel very large LPG / liquefied ammonia gas carrier (VLGC) from Kawasaki Heavy Industries Ltd. The vessel is expected to be delivered in 2026 is the seventh in the company’s fleet with the ability to run on LPG.

3. COSCO Shipping Holdings Co., Ltd. (HKEX:1919)

Market Capitalization as of February 9: $24.5 billion

COSCO Shipping Holdings Co., Ltd., commonly known as COSCO Shipping, is a Chinese state-owned company formed through the merger of COSCO Group and China Shipping Group. COSCO Shipping is one of the largest shipping companies in the world based on its fleet which comprises of 1,403 vessels with a capacity of 113.84 million DWT, including 441 dry bulk vessels, 227 tankers, and 174 general and specialized cargo vessels, among others.

COSCO Shipping Holdings Co., Ltd. is the third most valuable shipping company across the world based on its market capitalization of $24.5 billion. Its shares are listed on the Honk Kong Stock Exchange as well as the Shanghai Stock Exchange. The company generated a revenue of $47.9 billion, and a net income of $14.7 billion, for the nine months ended September 30, 2022.

2. A.P. Moller – Maersk A/S

Market Capitalization as of February 9: $40.6 billion

Copenhagen, Denmark-based A.P. Moller – Maersk A/S is one of the largest integrated transportation and logistics companies across the world with a presence in more than 130 countries worldwide. As of December 31, its fleet comprised of 707 container vessels, including owned and chartered vessels, with an aggregate capacity of 4.3 million TEU.

A.P. Moller – Maersk A/S recorded a significant increase in its top and bottom line on a year-on-year basis in FY 2022. Its revenues surged by 32% y-o-y to $81.5 billion while net income increased by 63% y-o-y to $29.3 billion.

A.P. Moller – Maersk A/S ordered 6 large ocean-going vessels that can sail on green methanol during 2022, in addition to the 13 vessels ordered in the previous year.

1. Hapag-Lloyd

Market Capitalization as of February 9: $51.2 billion

Hapag-Lloyd AG is the most valuable shipping company in the world based on its market capitalization of nearly $47 billion. The Hamburg-based traces its history back to 1847 and currently operates a fleet of more than 250 container vessels with an aggregate capacity of 1.8 million TEU. It is one of the leading operators in the Transatlantic, Middle East, Latin America, and Intra-America trades with 123 liner services worldwide connecting more than 600 ports.

On January 31, Hapag-Lloyd AG released its preliminary results for FY 2022. Its revenue increased by 38% y-o-y to $36.4 billion, while EBIT surged by 67% y-o-y to $18.5 billion, mainly due to the massive surge in freight rates.

On October 4, 2022, Hapag-Lloyd AG agreed to acquire the terminal business of SM SAAM S.A., which includes 10 terminals in six countries in North, Central and South America, for nearly $1.0 billion. It also acquired 5 second-hand vessels with a total capacity of 19,329 TEU during H1 2022.