Financial and Economic Indicators of Shipping Companies in 2010-2019 Years

Abstract

Financial and Economic analysis of shipping companies conducted based on main maritime industry segments - Crude Oil, Products, Liquefied Natural Gas (LNG), Dry bulk commodities and Container cargo. Each of them is represented as one or several companies, which are the leaders in these business sectors. The revenues of shipping companies specialized in crude oil and product transportation have been increased significantly in 2010-2019 years, which was a result of increasing ship quantities and tonnage as well as income from time-charter. Stability can be seen in the revenues of liquefied natural gas shipping companies. The growth rate of container shipping company income was comparatively low. Moreover, the share of voyage costs have been increased in bulk commodities transportation in 2010-2019 (From 8% to 25%), decreased operating expenses, amortization of assets, charter and general costs. In the cost structure of liner shipping companies’ transportation and terminal expenses have been increased (From 10% to 26%), while the share of fuel, charter and logistics costs have been decreased. The high and stable profitability incurred in liquified natural gas transportation field as well as in oil shipping transporation with modern, new and large size oil tankers. The dry bulk and liner shipping companies were characterized with sharp unsteadiness and comperatively low profitability. The crude oil and product shipping companies had positive financial results in 2014-2016 and 2019 years, in other years they reported loss. The liquified natural gas transportation companies had a stable profit. Within the same period, dry bulk shipping companies were characterized with the lower or even unprofitability. Container shipping companies had unsteady financial results, in particular their net profit was peaking in 2010, 2014 and 2018 years and ended up with loss in 2011 and 2016 years. Keywords: The revenues of shipping companies, voyage costs, operational costs, charter costs, bunker costs, terminal costs, intermodal costs, port costs.