Mediterranean Shipping Company is busy with a large-scale feeder-fleet replacement drive involving 120 vessels ranging up to 5 000 TEUs in carrying capacity, Braemar Shipping Services has reported.
According to the shipbroker and charter company, the fleet expansion is to replace MSC’s ageing short-sea fleet, currently comprising vessels that are generally 22 years and older.
At the moment, the Swiss line operates about 900 box ships, of which some 609 are owned vessels and 291 are chartered.
In terms of cargo capacity, that translates to about 6.47 million TEUs, making MSC the global leader in container shipping, controlling roughly 20% of worldwide container capacity.
As for newbuilds, the carrier has 132 vessels on its order books, equivalent to 2.0-2.2 million TEUs of future capacity, and representing 30-32% of projected capacity, expected to come on stream by 2028.
According to Braemar, by the time the latest tranche of newbuild vessels comes into service, the average age of older ships, of which most are feeder vessels, will likely exceed 25 years — a point at which many operators typically begin phasing out vessels.
The firm added that the substantial number of deliveries currently in the pipeline, many of which are believed to be under construction at Chinese shipyards, was expected to continue through to 2029.
This suggests a long-term strategy by MSC to modernise its fleet, rather than simply increase capacity in a market already dealing with excess supply.
