SINCE the early stages of the Covid crisis in March, the world's biggest shipping companies have added over US$23 billion to their market value, reports Forbes magazine.
Shareholders who invested in global shipping back in March would be seeing an 85 per cent increase in the value of their shares.
The largest global shipping companies have earned over $140 billion in revenue over the last 14 months.
Forty per cent of these revenues were earned from just three companies. NYK Line saw $25 billion in revenue, MOL saw $14 billion in revenue, and 'K'' Line saw $13 billion revenue.
These companies typically use ships that are in flags of convenience countries such as Panama, Marshall Islands, and Liberia. These countries dominate ship registration with 50 per cent of all ships registered globally, but have weaker environmental and safety standards
Meanwhile, protests outside the International Maritime Organisation (IMO) during crunch negotiations on global shipping's climate emission targets for the next decade happened throughout October.
The negotiations are aimed at eliminating the rising greenhouse gas emissions from the world's sixth-largest emitter, global shipping. The protesters feel that with global shipping's approach to the climate crisis, they're another industry that is putting profit ahead of the planet.
SeaNews Turkey
Shareholders who invested in global shipping back in March would be seeing an 85 per cent increase in the value of their shares.
The largest global shipping companies have earned over $140 billion in revenue over the last 14 months.
Forty per cent of these revenues were earned from just three companies. NYK Line saw $25 billion in revenue, MOL saw $14 billion in revenue, and 'K'' Line saw $13 billion revenue.
These companies typically use ships that are in flags of convenience countries such as Panama, Marshall Islands, and Liberia. These countries dominate ship registration with 50 per cent of all ships registered globally, but have weaker environmental and safety standards
Meanwhile, protests outside the International Maritime Organisation (IMO) during crunch negotiations on global shipping's climate emission targets for the next decade happened throughout October.
The negotiations are aimed at eliminating the rising greenhouse gas emissions from the world's sixth-largest emitter, global shipping. The protesters feel that with global shipping's approach to the climate crisis, they're another industry that is putting profit ahead of the planet.
SeaNews Turkey