Six public container carriers hit ‘large-cap’ valuation in May
A surge in positive investor sentiment in May saw a total of six publicly-listed container carriers record a market valuation over $10bn, as the Red Sea crisis plus windfall profits from the threat of tariff action continued to keep shipping share prices high.
After a market contraction in 2023, which saw the number of carriers with a ‘large cap’ valuation shrink to just three companies, stocks have continued to build on the Red Sea effect, collectively rising 20% over the last year.
Wan Hai Lines became the most recent addition to the category, with the Taiwanese company’s valuation reaching $10.05bn in mid May, a level the line had only previously achieved in 2021/22.
Evergreen Marine and HMM__official previously joined the club in early and late 2024 respectively, while last month saw Israel’s ZIM again lifted out of the small cap category into the mid cap range, after its valuation rose last month above $2bn.
The top 3 container carriers by market capitalisation – COSCOSHIPPING Group, Maersk and HapagLloydAG – each now have a similar value to well-known consumer brands such as Delta Airlines, Kraft Heinz and Kelloggs.
Source: Alphaliner
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