Comparative Research On The Debt Ability Of The Port And Shipping Listed Companies

Port and shipping is one of the important parts of transportation sector, the development of modern port and shipping industry is not only just about the changes of people lifestyle, but also about the progress of social civilization. So Port and shipping play an important role. Under the background of economic globalization, the development of port and shipping industry is rapid, and the total debt scale is increasing. The debt still keeps growing especially in the past two years with the entire industry downturn. In order to avoid debt crisis and provide clear information to potential investors and creditors, the comparative research on the port and shipping listed companies is necessary.The focus of this article is about the comparative analysis of debt ability of the port and shipping listed companies. With the fierce competition, the port and shipping listed companies how to exert their own advantages to ensure good solvent in the process of growing to keep enough cash flow. The stress of this article is the reasonable selection of the indicators, the reasonable selection of the indicators is to select indicators that can accurately analyze and compare the debt ability of port and shipping listed companies. The article considers that the selection of the indicators needs to combine with cash flow, assets quality and benefits. The difficulty of this article is that in order to pursue self-interest maximization, the investors should choose to invest the port or shipping listed companies in today’s excess capacity and information explosion.On the basis of relevant theories, the article establishes a debt ability system of the port and shipping listed companies, selects the port and shipping companies that shares listed on A, and uses eight indicators which are cash ratio, asset-liability ratio, interest protection multiples, debt service coverage ratio, operating and current liabilities ratio, total assets turnover, cash profit margins and return on total assets to compare and analyze the debt ability of the port and shipping listed companies. First, in order to the master the differences of total liabilities and liabilities structure between port and shipping listed companies, the article compares the liability condition; Secondly, in order to understand index distribution, the eight indicators has carried on the statistical analysis that means calculate the number of listed companies in each the range of each index. Finally, in accordance with the method of debt ability system of the port and shipping listed companies, the article analyze and compare the short and long term debt ability of the port and shipping listed companies with combination of two indicators. After the comparison and analysis of the port and shipping listed companies, the article give an research conclusion, and provide some advice to the investors and operators according to the conclusions.