Maersk Korea earned most money last year among shipping agencies

International shipping agencies showed little increase last year in commission incomes compared to the previous year.

According to the International Shipping Agencies Association of Korea (ISAAK), the whole income from 320 international shipping agencies for the year 2000 increased by 1.7 percent to $125,558,883. Commission incomes per agency rather decreased compared with $123,513,796 from 306 agencies'. The average commission income was $403,640 per shipping agency in 1999. However, it fell by 2.8 percent last year to record $392,372 per agency.

In the mean time, the top ten shipping agencies held 35 percent of total commission incomes, earning $43,500,386. Considering their grasp on 33 percent in 1999, their market share seems to be increasing year-by-year. The top 10 companies' income grew 7.2 percent above last year's.

Meanwhile, Maersk Korea, a joint venture of Maersk-Sealand was honored with the No.1 earnings position, pulling in $10,504,762. Woosung Shipping, an agency for the Israeli shipping line, Zim, came in second, making $6,973,982. Hanyang Shipping for the Taiwanese shipping company Evergreen, marked third place with $4,118,689, jumping two steps from fifth place in 1999. Fourth place went to Soyang Shipping, an agency for NYK. Pan Ocean Shipping followed with fifth place. Wei-dong Ferry, a car-ferry liner between China and Korea leaped to eighth from eleventh place in 1999. Overall, shipping agencies serving China showed remarkable rises in their rankings.