Mediterranean Shipping Company (MSC) has reached a significant milestone by becoming the first container shipping line to command a 20% share of the global containerized capacity.
The Swiss carrier has rapidly expanded, outpacing the overall market, and is on the verge of reaching a capacity of six million twenty-foot equivalent units (TEU).
This achievement marks a historic shift in the industry, as MSC has surpassed its long-time rival, Maersk, which held the top spot for more than 25 years.
According to data from Alphaliner, MSC’s operational capacity currently stands at over 5.2 million TEU, with its market share reaching 19.9%.
“What is particularly significant is that MSC has achieved this size solely through organic growth,” stated Lars Jensen, founder of consultancy Vespucci Maritime.
“All other major global container lines have scaled up through acquisitions. This indicates that the Swiss carrier is likely not finished with its growth trajectory yet.”
MSC’s rapid expansion has been driven by a strategy of aggressively adding new vessels to its fleet, both through new builds and the acquisition of second-hand ships. The company’s order book currently includes 126 new vessels, which will add an additional 1.55 million TEU of capacity.
In contrast, Maersk has taken a different approach, focusing on diversifying its business into logistics and supply-chain services rather than solely expanding its container shipping operations.
As a result, Maersk’s market share has steadily decreased since it briefly surpassed the 20% threshold in 2018, with its current capacity significantly lower than MSC’s.
The rise of MSC as the new market leader has been widely recognized by industry analysts. Peter Sand, chief analyst at freight rate platform Xeneta, described MSC’s growth as “spectacular.”
The company’s rapid fleet expansion and increasing share of the global container market have put significant pressure on its competitors.
As the industry continues to evolve, the battle for dominance between MSC, Maersk, and other major players is likely to intensify, with far-reaching implications for the global supply chain and the shipping industry as a whole.
