The world’s largest container carrier is planning a historic renewal of its feeder fleet.
Broker Braemar is reporting a “megaproject” is in the works for Mediterranean Shipping Co (MSC) with the Soren Toft-led company looking to order up to 120 vessels ranging in size between 1,100 and 5,000 teu.
“Looking at MSC’s fleet this would appear to be mostly replacements and a logical step given the average age profile of their owned feeder tonnage is 22 years old and by the time these vessels start to deliver will be over the 25-year mark,” Braemar explained in a container markets update, suggesting the huge raft of deliveries, likely from Chinese yards, would stretch into 2029.
Geneva-headquartered MSC will become the first carrier to cross through the 7m teu mark in the coming months. It has nearly tripled in size over the past decade via a massive newbuild campaign and a historic foray in the secondhand markets.
MSC’s expansion has propelled landlocked Switzerland to become one of the top shipowning countries in the world. Online pricing portal VesselsValue released its annual chart of the top 10 shipowning nations by total asset value in January, with Switzerland creeping into ninth spot thanks largely to MSC’s container and cruise fleets.