MSC, Mærsk & CMA CGM – where rivalry doesn't matter (and where it does)
Behind closed doors
FDX: TRADING UPDATE ON THE WAY TSLA: ON THE MENDGM: TECH STARTUP LISTINGCHRW: BOLT-ON DEAL TIMEDHL: GO GREENDSV: BULLISH DSV: NOTE TO INVESTORSKO: TAX FIGHTDSV: STILL 'OVERWEIGHT'WTC: HAMMEREDWTC: MOUNTING TROUBLEWTC: ANOTHER DIFFICULT WEEK CHRW: NEW PRODUCT LAUNCH
FDX: TRADING UPDATE ON THE WAY TSLA: ON THE MENDGM: TECH STARTUP LISTINGCHRW: BOLT-ON DEAL TIMEDHL: GO GREENDSV: BULLISH DSV: NOTE TO INVESTORSKO: TAX FIGHTDSV: STILL 'OVERWEIGHT'WTC: HAMMEREDWTC: MOUNTING TROUBLEWTC: ANOTHER DIFFICULT WEEK CHRW: NEW PRODUCT LAUNCH
For the fifth year in a row, of the 12 largest container lines, 2025 saw MSC adding the most capacity, stretching its lead over second-placed Maersk to 2.5m teu.
According to new research from Alphaliner, the Aponte family-controlled carrier added 831,400 teu of capacity to its fleet, a year-on-year increase of 11.7%.
This was several basis points above the 7.3% average fleet growth across the 12 largest carriers, which as a group added 2.14m teu to the global fleet – MSC accounting for 39% of that.
Alphaliner noted that the lion’s share of MSC’s capacity increase was through the delivery of 54 newbuildings in 2025, which amounted to 695,185teu, the remainder coming from second-hand buys.
And as we enter 2026, its enormous orderbook means its number-one position is virtually unassailable for the foreseeable future.
“Looking at the annual overview of winners and losers, however, one should perhaps not focus too much on percentages, but instead on the actual number of teu slots,” said Alphaliner.
“In just one year, MSC has increased its fleet by more slots than the total size of Yang Ming and Zim.
“Furthermore, with an orderbook of 114 ships representing over 2m teu – the largest order pipeline of any carrier – MSC’s position as market leader is secured for the longer term,” the analyst writes today.
In terms of percentage growth, South Korean HMM’s was the largest, at 12.8% for 131,397 teu, while Zim was the only carrier to see its capacity decline, as it continued its strategy of redelivering the more expensive chartered vessels as their agreememnts expired.
The Israeli carrier’s fleet capacity contracted 10.7%, for total of 75,607 teu.
Evergreen was the third-fastest grower, with 10.2%, amounting to 198,640 teu. However, its overall capacity injection of 207,500 teu across the year – through the delivery of 21 newbuildings – was partially offset by the return of chartered tonnage.
And it was a similar picture at German carrier Hapag-Lloyd, which received eight new vessels, with a combined capacity of 102,400 teu, but its fleet growth was just 2.5%, equating to 58,650 teu.
“Newbuilding programmes give a good indication of expected fleet growth, but some operators will combine the delivery of new tonnage with the sale of older ships or re-delivery of chartered tonnage,” said Alphaliner.
Meanwhile, Hapag’s Gemini partner, second-placed Maersk, also saw below-average fleet growth, of 4.3%, via the delivery of 17 newbuildings.
The third-largest carrier, CMA CGM grew its fleet by 7.5%, to take it to 4.13m teu, and it continues to gain ground on Maersk, which ended the year with a capacity of 4.61m teu. However, based on the two carriers’ current orderbooks, the French liner is unlikely to overtake its Danish counterpart this year.
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