MSC Embarks on Major Feeder Fleet Modernization Project

🚢⚓️Mediterranean Shipping Company (MSC), the world’s largest container line, is preparing to launch a large-scale modernization of its ageing feeder fleet.

 

According to shipping broker Braemar, MSC is developing an ambitious plan to order as many as 120 new feeder vessels, ranging from 1,100 to 5,000 TEU. This initiative is seen as a strategic move to replace older tonnage, with much of MSC’s current feeder fleet averaging around 22 years of age – meaning many of these vessels will be well over 25 years old by the time replacements are delivered.

 

The newbuilds are expected to be sourced primarily from Chinese shipyards, with deliveries likely extending through 2029, according to Braemar’s latest container market update.

 

Headquartered in Geneva, MSC has experienced exponential growth over the past decade, nearly tripling its fleet size through a combination of aggressive newbuilding programs and substantial secondhand acquisitions. The company is also on track to become the first carrier to surpass 7 million TEU in total fleet capacity in the near future.

 

📈This rapid expansion has elevated landlocked Switzerland to a surprising position in global shipping. In January, VesselsValue ranked Switzerland ninth among the world’s top shipowning nations by asset value – largely due to MSC’s dominance in both the container and cruise sectors.

 

Source: Splash 247

Picture: MSC