Posts Tagged “MSC Mediterranean Shipping Company”
Mediterranean Shipping Co. has become the word’s largest shipping line in terms of capacity, according to data compiled by Alphaliner and published on recently by Bloomberg.
The Danish carrier A.P. Moller-Maersk A/S is no longer the world’s largest container line.
MSC’s fleet can carry 4,284,728 standard 20-foot containers, 1,888 more than Maersk, giving both a market share of 17%.
Maersk, which first entered containerized trade in 1975, has held the top spot for decades. The carrier has been a pioneer in the industry, often breaking records by building the biggest ships.
More recently, it has invested in vessels that can sail on carbon-neutral methanol. It still has the most capacity in terms of owned vessels: MSC has about 65% of its capacity from chartered ships whereas Maersk only has 42%.
After struggling to make money for much of the past decade, the container shipping industry just had its most profitable year ever as pandemic-driven demand for consumer goods strains capacity on vessels. Freight rates out of Shanghai have jumped about five-fold over the last 18 months.
“We never set a specific target to be the biggest,” MSC Chief Executive Officer Soren Toft said in an emailed comment on Wednesday, adding that he’s focusing on growth and profitability.
Maersk CEO Soren Skou last month reiterated in an interview that holding the top spot isn’t important for the Copenhagen-based company, which is investing on expanding its land-based logistics where profit margins are higher.
MSC Mediterranean Shipping Company is expanding its fleet with a huge order of 5,000 refrigerated containers equipped with Carrier Transicold’s XtendFRESH atmosphere control technology.
The XtendFRESH system manages oxygen and carbon dioxide levels within refrigerated containers and removes ethylene, thus slowing the ripening of produce, according to a news release.
The XtendFRESH-equipped containers are being leased through SeaCube Containers LLC.
“By adding atmosphere control for selected perishable cargoes, we are enhancing the care we provide for the valuable commodities we ship for our customers,” Giuseppe Prudente, chief logistics officer, MSC Mediterranean Shipping Company, said in a news release. “XtendFRESH technology enables MSC to transport fruit and other refrigerated cargo over longer distances, creating tremendous new opportunities for exporters and importers.”
The order is the largest for the XtendFRESH option since the system was introduced in 2013. It adds to the growing trend among shipping lines to provide controlled-atmosphere technology for the benefit of their customers, Willy Yeo, director, marketing, Global Container Refrigeration, Carrier Transicold.
“MSC is just one example of the very strong demand we’ve seen for controlled-atmosphere equipment,” SeaCube CEO Robert Sappio said in the release. He said controlled atmosphere is a way for shipping lines to assure their customers that they are carrying their products more safely.
The XtendFRESH system’s patented, self-regenerating activated-carbon scrubber assembly captures carbon dioxide and ethylene, a hormone given off by ripening produce that can accelerate ripening if left unchecked. As perishable cargo consumes oxygen, on-demand fresh-air ventilation automatically maintains the optimum level inside the container.
“The innovative XtendFRESH system allows shipping lines to optimize conditions for specific commodities,” Carrier Transicold’s Yeo said. “It is the only atmosphere control solution with an integrated ethylene removal capability.”
Carrier Transicold is a part of UTC Climate, Controls & Security, a unit of United Technologies Corp.