A Study on Change of the Productivity of Global Shipping Companies

글로벌 해운기업의 생산성 변화에 관한 연구

This study has analyzed the efficiency of 10 leading global shipping companies listed in the New York Stock Exchange from2010 to 2014 in order to find the changes of the productivity of shipping industry. The paper observed the Malmquist Productivity Index by using Efficiency and Productivity Analysis System Version 1.0. The data used in this study is the Guggenheim Shipping ETF mainly including the companies of shipping, management, and shipbuilding areas. The results from this statistical analysis indicate that the 10 selected companies have experienced a severely negative growth in 2010. Nevertheless, these companies have accomplished a significant growth of productivity. In particular, the energy transport companies operating Tanker and LNG ships carried out remarkable growth. The reason why the productivity of liner shipping companies did not show the improvement of productivity for five years was attributed to the fact that the P3(Project 3) or M2(Maersk-MSC) including Maersk, MSC, and CMA-CGM were excluded in this research because of the difficulty of attaining reliable source data. The method of this study could be extended to Korean shipping corporations and other global airlines to investigate a changes of certain industries.