🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

Size not the main aim, shippers say, as MSC overtakes Maersk

Published 01/06/2022, 03:54 AM
Updated 01/06/2022, 03:56 AM
© Reuters. FILE PHOTO: An MSC container ship passes through the Suez Canal near fishermen and their boat, in Ismailia, Egypt July 7, 2021. REUTERS/Amr Abdallah Dalsh

COPENHAGEN (Reuters) - Swiss-based container group MSC has overtaken Denmark's Maersk as the world's biggest shipper, the company said, confirming data from intelligence provider Alphaliner.

After taking delivery of several ships last year, MSC or Mediterranean Shipping Company has capacity to move the equivalent of 4,284 million twenty-foot containers, Alphaliner said. That compares with Maersk's 4,282 million.

Both companies, which according to Alphaliner hold markets share of around 17%, said size was not the objective.

Asked for comment, Maersk, which has been the biggest shipper for decades, referred to comments made by CEO Soren Skou in May.

"I would like to be CEO of the world's largest shipping and logistics company, and I believe I have a good chance of holding on to that for some time to come," Skou said.

"Our goal isn't to be number 1. Our goal is to do a good job for our customers, delivering strong returns and not least be a decent company for all other stakeholders doing business with Maersk."

Bottlenecks caused by a surge in demand for consumer goods as the world emerges from the initial pandemic impact has driven container shipping rates to record highs.

MSC, privately owned by the Aponte family, said in an emailed statement it emerged at the world's biggest container carrier after investing in new ultra-large vessels "to meet the acceleration of global trade and specific client demand for our services".

"At MSC, we never set a specific target to be the biggest. Growth, profitability and supporting customers are what have driven us," said MSC Chief Executive Soren Toft, who joined the company from Maersk in late-2020.

Since 2016, Maersk has sold its oil and gas business and bought such as warehouses to transform itself into an integrated logistics company rather than a conglomerate.

© Reuters. FILE PHOTO: An MSC container ship passes through the Suez Canal near fishermen and their boat, in Ismailia, Egypt July 7, 2021. REUTERS/Amr Abdallah Dalsh

It owns the majority of its container shipping capacity, while MSC has chartered some two-thirds of its capacity, Alphaliner said.

Alphaliner says CMA CGM and Cosco are the third and fourth biggest container shipping companies with 12.6% and 11.6% market share, respectively.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.