MSC Hits 20% Market Share, Nears 6 Mteu Fleet Size

MSC Hits 20% Market Share, Nears 6 Mteu Fleet Size

Last week, Mediterranean Shipping Company (MSC) achieved a 20% market share for the first time in its 52-year history. The Swiss-Italian shipping giant is also close to reaching a fleet capacity of 6.00 million twenty-foot equivalent units (Mteu), needing just one more major ship delivery to hit this milestone.

MSC’s fleet expansion has outpaced overall market growth, fueled by newbuilding programs, numerous second-hand acquisitions, and chartering. A notable acquisition was the 9,600 teu vessel MSC NICOLE X, previously owned by Maersk. Since its founding in 1970, MSC has steadily increased its capacity, reaching 5.00 Mteu in May 2023 and expecting to hit 6.00 Mteu by the end of this month.

Despite scrapping seven vessels totaling 14,000 teu this year, MSC’s growth remains strong with 28 new ships adding 324,000 teu in 2024 alone. As MSC prepares to end its 2M alliance with Maersk, the carrier’s fleet and market share are expected to match those of its main competitors combined, allowing it to operate independently in an alliance-dominated industry.

Source: MSC, Alphaliner

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