The fleet expansion of Mediterranean Shipping Company (MSC), comprising an unprecedented acquisition drive of second-hand vessels, with some newbuilds added in for good measure, appears to be on an unstoppable trajectory.
Sensing an end to the supply chain slowdown that has marked the liner trade in recent times, the Swiss-run line has further bolstered its position as global TEU capacity leader – a bragging-rights title previously held by Maersk.
This emerged after China International Marine Containers (CIMC) confirmed that MSC had placed an order for ten 11 500-TEU dual-fuel vessels.
The ships cost $120 million per unit, will be methanol-driven when delivered by 2025/26, but will come equipped with liquid natural gas capability.
The line, which along with its Danish rival will exit their 2M vessel-sharing agreement by 2025, has now entered the record books by having 132 vessels on order.
Last November, it was reported that the cash-flush position in which MSC finds itself apparently knows no bounds after it added another batch of vessels to its fleet of second-hand vessels.
Then, the amount paid for three additions to MSC’s rapidly expanding fleet remained unclear, but it was confirmed that the ships are the Conti Canberra, Conti Darwin and X-Press Kanchenjunga.
It furthermore came to light that Conti vessels are capable of carrying 5 618 TEUs each, while the Kanchenjunga has capacity for 2 702 twenty-foot boxes.
The acquisitions confirmed MSC’s appetite for risk as both ships were built in 1999.
It also brought MCS’s slot capacity to 4.47 million, putting the carrier well ahead of Maersk, its nearest competitor.
It was also reported that news of the acquisitions “comes soon after it emerged that MSC had taken ownership of the entire stock of Rimorchiatori Mediterranei SpA, an Italian tug firm with brand representation in Malta, Singapore, Malaysia, Norway, Greece and Colombia, in addition to Italy.
“Apart from the news that MSC will be adding an airfreight division to its stable, it has also been announced that the line has been handed a concession to run a terminal at the Port of Walvis Bay.
“Since embarking on its aggressive fleet expansion drive in 2020, MSC has, to date, widened the gap between itself and Maersk to more than 200 000 TEUs.”
With the latest news now confirmed by CIMC that MSC has ordered 10 LNG/methanol vessels, the line has clearly dispelled notions earlier this year that its expansion has come to an end.
