Geneva-based Mediterranean Shipping Company (MSC) has surpassed the seven million TEU mark, cementing its position as the world's largest container shipping line and widening its lead over rival Maersk, reports Rotterdam's Breakbulk News.
The company now controls about 21 per cent of global container capacity, 2.4 million TEU more than Maersk.
In the past 15 months, MSC added roughly 800,000 TEU through newbuild deliveries and second-hand acquisitions. The delivery of the 3,534-TEU vessel Newnew Star 2 pushed the carrier past the symbolic milestone. MSC's fleet now totals 7,002,757 TEU, exceeding the combined capacity of the Gemini Cooperation, Maersk's partnership with Hapag-Lloyd.
Analysts warn the industry faces a prolonged capacity glut until 2030, which could pressure freight rates and trigger renewed rate wars.
MSC's fleet flexibility may help it weather downturns, with nearly 20 per cent of ships more than 20 years old and a mix of 688 owned and 267 chartered vessels.
Maersk is reportedly considering new megaship orders to close the gap, while continuing to focus on integrated logistics and green operations.
MSC's orderbook includes another two million TEU, much of it energy-efficient and alternative-fuel designs. With more than 955 ships in service and hundreds more on order, its dominance is reshaping global shipping.
However, industry-wide overordering could test profitability as carriers compete for cargo amid slowing demand.
https://www.shippingazette.com/news?news_id=9251100000367
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