Mediterranean Shipping Company (MSC) has recently ordered 20 new large oil tankers with a capacity of 24,000 TEU from the Jiangnan Shipyard in China. This contract, aimed at expanding the company's capacity, reflects the highest level of global commitments to building new ships in over a decade.
Details of the New Contract
According to reports, MSC, led by Gianluigi Aponte, has registered 20 new ships with a capacity of 24,000 TEU at the shipbuilding facility located in Dalian, China. This order means an addition of 480,000 TEU to the company's future capacity. With this contract, the number of MSC vessels with a capacity of over 20,000 TEU will reach 62 at the Jiangnan Shipyard.
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The financial details of the contract, delivery dates, and specifications of the ship's engines have yet to be announced. This new contract adds to the volume of MSC's expansion plans, which have significantly outpaced its competitors.
Expansion of MSC's Fleet
Since signing a strategic cooperation agreement between MSC and Jiangnan Shipyard in 2024, the company has been significantly expanding its fleet at this facility. Initially, MSC signed a contract for the construction of 10 ships with a capacity of 21,000 TEU and 10 ships with a capacity of 24,000 TEU as LNG dual-fuel vessels, and then returned last year for the construction of six ships with a capacity of 22,000 TEU.
By the end of September, Alphaliner data shows that MSC's operational fleet has reached approximately 7.4 million TEU, equivalent to 21.5% of the global shipping fleet capacity. Additionally, with 2.94 million TEU currently under construction, MSC's total fleet and orders have surpassed 10 million TEU.
MSC's new move comes at a time when container shipbuilding activities have surged significantly. Estimates indicate that total global orders for container ships have reached 16.2 million TEU, accounting for 46.5% of the existing fleet, marking the highest ratio since 2009.
South Korea's HMM is also expanding its fleet and has confirmed contracts worth approximately 1.92 trillion Korean Won (1.44 billion USD) for the construction of eight LNG dual-fuel ships with a capacity of 13,000 TEU at HD Hyundai. These ships will be built at HD Hyundai Samho and HD Hyundai Heavy Industries, with deliveries starting in 2029. HMM intends to deploy these ships in its services in the Far East-India-Mediterranean.
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