In a strategic shift within Transatlantic trade, top carriers have significantly reduced cargo capacity over the past year, with overall capacity declining by 8.2%. This reduction, totaling around 91,100 TEU (Twenty-foot Equivalent Units), results from both the withdrawal of entire service loops and the replacement of large vessels with smaller ones.
CMA CGM and COSCO SHIPPING Lines led the cutbacks, pulling 30.9% and 22.7% of their tonnage, respectively. In August, the carriers closed their joint ‘MEDGULF / MDX’ loop that linked the Mediterranean, U.S. Gulf, and Mexico. CMA CGM also redeployed vessels APL FLORIDA and MH PERSEUS to its North Europe – USEC Ocean Alliance ‘TAT2’ service. Later, in October 2023, it assigned larger ships, such as the 11,388 TEU CMA CGM CASSIOPEIA and 9,415 TEU CMA CGM FIDELIO, to Far East-North America routes.
Meanwhile, Hapag-Lloyd took a contrasting approach, increasing its Transatlantic fleet by 6%, adding 12,500 TEU. The German carrier, now deploying two additional vessels, remains resilient in a market where demand is shifting.
MSC maintains its leadership with a significant 41.8% market share, up from 37.9% in July 2023. Its large-scale ‘California Express’ service, which includes calls in Panama, has bolstered its hold on the market. MSC’s substantial standalone presence highlights its capability to operate independently, especially as it nears the end of its 2M Vessel Sharing Agreement with Maersk in January 2025.
Looking ahead, Maersk is set to replace the 2M services with the Gemini Cooperation in partnership with Hapag-Lloyd, which recently exited THE Alliance yet maintains a cooperative link with ZIM for Mediterranean-North America services.
Niche carriers on the North Atlantic, including ACL, ICL, Turkon, and newcomer Arkas, maintain a stable but modest presence, representing approximately 4.4% of the market.
This industry reshuffle underscores carriers’ strategic adaptation to evolving trade demands, aiming for optimized efficiency while maintaining service stability across the Atlantic.
Source: Alphaliner
