A Decade of Change in Global Container Fleet Rankings

According to recent industry data, Mediterranean Shipping Company (MSC) has continued to solidify its spot as the world’s largest carrier by capacity. The Swiss giant’s share of the global container shipping fleet is now an estimated 21.6%.

The below chart highlights the significant shift that has taken place in the sector over the past decade. Ten years ago, MSC controlled approximately 10.8% of global fleet capacity, compared with 15.7% for Maersk, which at the time was the industry’s largest carrier by a significant margin.

Today, the positions have reversed. MSC’s share has doubled to 21.6%, while Maersk’s share has declined to 13.7%. The result is a gap of almost eight percentage points between the two largest carriers.

MSC’s growth has been driven by a combination of newbuilding orders and a sustained programme of second-hand vessel acquisitions, particularly during and following the Covid-19 pandemic. While most major carriers expanded during the period of elevated freight rates, MSC was notably active in both the newbuild and sale-and-purchase markets, adding significant capacity to its fleet.

The wider market has also become more concentrated. The four largest carriers; MSC, Maersk, CMA CGM and COSCO now control almost 60% of global container fleet capacity.

With a substantial orderbook still scheduled for delivery over the coming years, MSC’s share of the market is expected to remain above the 20% threshold, further increasing the distance between itself and its nearest competitors.