MSC Acquires 400th Ship in Historic Fleet Expansion

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  • Since August 2020, the Mediterranean Shipping Company (MSC) has acquired over 400 second-hand vessels, marking a historic milestone.
  • The NORTHERN JAGUAR, an 8,814 TEU container ship, was purchased for $52.5 million.
  • MSC has added 1.66 million TEU of capacity through these acquisitions, with vessels averaging 20 years old.
  • This aggressive strategy consolidates MSC’s dominance in the global shipping market, especially as it ends its partnership with Maersk.

Mediterranean Shipping Company (MSC), a global leader in container shipping, has achieved a historic milestone by acquiring over 400 second-hand vessels since August 2020. This rapid fleet expansion demonstrates MSC’s commitment to adapting to market opportunities and enhancing its long-term growth prospects, reports Sungreen.

Key Highlights

The NORTHERN JAGUAR Acquisition

MSC’s latest purchase, the NORTHERN JAGUAR, reflects its continued focus on fleet expansion.

  1. Specifications: Built-in 2009 by Daewoo Shipbuilding & Marine Engineering, the ship has a deadweight tonnage of 108,730 tons, a length of 332.40 meters, and 700 refrigerated plugs.
  2. Current Status: Leased to Maersk until June 2026, it is unclear when MSC will assume control.

This vessel joins four other ships from the “NORTHERN J” series already acquired by MSC: NORTHERN JULIE, NORTHERN JADE, NORTHERN JASPER, and NORTHERN JUSTICE.

Recent Acquisitions

In addition to the NORTHERN JAGUAR, MSC has recently purchased several other vessels, including:

  1. HONGKONG BRIDGE (4,252 TEU)
  2. BF TIGER (2,826 TEU)
  3. NAJADE (2,702 TEU)
  4. HANNAH, LUCIE, MARGARETE SCHULTE (2,572 TEU each)
  5. LUDWIG SCHULTE (1,740 TEU)

MSC’s Expansion Timeline

Since August 2020, MSC’s second-hand vessel acquisition program has grown rapidly:

  1. August 2021: 100 vessels acquired
  2. June 2022: 200 vessels acquired
  3. December 2022: Cumulative capacity of 1 million TEU achieved
  4. April 2023: 300 vessels acquired
  5. November 2024: Over 400 vessels acquired

This aggressive expansion has added 1.66 million TEU of capacity, making MSC a dominant player in the secondary vessel market.

Industry Implications

MSC’s acquisition spree solidifies its position as a leader in global container shipping.

With Maersk partnership ending, MSC’s solo growth strategy showcases its ability to adapt and thrive amidst market challenges.

Strategic Resilience

Launching this expansion during the COVID-19 pandemic, MSC capitalized on market disruptions.

Its fleet now includes vessels of various capacities (ranging from 624 TEU to 14,700 TEU) sourced primarily from non-operating shipowners (NOOs).

Market Adaptability

Despite rising prices for second-hand ships, MSC continues to prioritize fleet expansion, underscoring its commitment to:

  1. Increasing capacity to meet future demand.
  2. Mitigating risks through a diverse fleet structure.

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Source: Sungreen