MSC overtakes Maersk to become the world's largest container shipping line

Data from data provider Linerlytica shows that MSC overtook Danish shipping line Maersk to become the world's largest container shipping line on November 24.

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MSC surpassed Maersk to reach the top of the rankings (Photo: Phaata)

The position change at the top of the leaderboard is underway. Alphaliner data shows that only a gap of 10,817 TEU - the equivalent of buying one more neopanamax vessel - would swap Maersk and MSC at the top of the rankings. The Danish shipping line lost its No. 1 spot for the first time in more than a quarter of a century before the end of 2021.

Data from data provider Linerlytica shows that MSC has indeed just surpassed its rival - the Danish shipping line Maersk. According to Linerlytica, MSC took the top spot on 24 November when the container ship Susan Maersk became the MSC Fie.

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MSC surpassed Maersk to become the world's largest container shipping company (Source: Linerlytica I 11/24/2021)

MSC has invested a huge amount of expansion costs since August 2020, purchasing 125 secondhand ships, an unprecedented number in the past 16 months, and contracting to build more containers than any other carrier in the world. According to Alphaliner data, both shipping lines currently hold 16.9% market share in the world. Including its number of new orders, MSC's fleet has surpassed its partner Maersk - in the 2M alliance - by a considerable distance.

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Total fleet capacity of MSC significantly surpasses Maersk (Source: Alphaliner)

MSC is reported to have just signed a letter of confirmation with South Korea's Hyundai Heavy Industries (HHI) to build six 15,000 TEU LNG-powered vessels worth a total of $1 billion, adding to the total newly-built vessel capacity up to 1 million TEU - this is the company's record.

The big gap between the MSC and Maersk fleets lies in the difference between owned and chartered fleets. Maersk owns more ships, while MSC still relies on charterers for the majority of its fleet. However, MSC changed tactics during the pandemic.

Maersk has been the largest shipping line in the world since the mid-1990s. In recent years, it has repeatedly stated its intention to become a logistics integrator with a fleet of no larger than 4.4 million TEU.

MSC, founded by Gianluigi Aponte in 1970, became the world's second largest carrier in 2004, and since then it and Maersk have continued to top the global rankings.

Soren Toft, former CEO of Maersk, just celebrated one year since joining MSC as CEO.

Over the weekend, Sea-Intelligence analysts observed major ranking changes for most of the global carriers on their current list.

The biggest leap in the rankings during the pandemic came from China. For example, China United Lines (CU Lines) wasn't even in the top 100 at the outset of the pandemic, but now operates a fleet of 82,000 TEUs and ranks as the 22nd largest carrier in the world. world.

Sea-Intelligence said in its latest weekly report: “They are one of the very clear beneficiaries of the extremely strong container market of 2021.”

BAL Container Line is also another shipping line that benefits from extremely strong market conditions in 2021. BAL Container Line was also outside the top 100 at the start of the pandemic, but currently operates a fleet of 33,000 TEUs and is the 37th largest shipping line in the world.

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