- All top 12 mainline operators recorded fleet growth above 6.9% in 2024, except Yang Ming Marine Transport, which saw a slight decline.
- MSC led the growth with an addition of 692,000 TEUs, followed by ZIM Line and Hapag-Lloyd.
- Evergreen and Hapag-Lloyd’s fleet changes were influenced by vessel retrofits and charters, highlighting the strategic shift in fleet management.
Fleet growth in 2024 among mainline operators remained robust, with the top 12 carriers expanding their capacities significantly, as detailed in Alpha liner’s report. While some operators achieved notable growth by delivering newbuilds and charters, others focused on strategic retrofitting and disposal of older vessels. Container News reports that the overall market trends underscore a dynamic year for container shipping.
MSC Leads the Pack
Mediterranean Shipping Company (MSC) became the largest container shipping line, adding 692,000 TEUs to its fleet in 2024.
This growth, representing a 12.3% increase, was fueled by 50 newbuildings, including 26 neo-Panamax vessels. The fleet expansion enables MSC to operate an independent East-West network.
PIL Achieves Remarkable Growth
Pacific International Lines (PIL) experienced the highest percentage growth among the top 12 carriers, increasing its fleet by nearly 30% to 383,016 TEUs.
This surge was driven by the delivery of LNG-powered post-Panamax vessels. It reflects its commitment to sustainability and capacity enhancement.
ZIM’s Fleet Expansion Strategy
ZIM Line recorded the second-largest fleet growth, increasing capacity by 26% to 780,172 TEUs.
The Israeli operator relied heavily on long-term charters, leveraging market opportunities to expand its operational reach.
Hapag-Lloyd’s Dual Strategy
Hapag-Lloyd expanded its fleet by 19%, with 367,000 additional TEUs.
While seven large newbuildings contributed to the growth, the majority came from chartered neo-Panamax vessels retrofitted to increase capacity.
Evergreen’s Balancing Act
Evergreen Marine Corporation added 24 new vessels (212,500 TEUs) to its fleet but saw a net growth of only 114,200 TEUs (+6.9%).
This modest increase resulted from retiring older ‘U-class’ ships and selling them for demolition or second-hand use.
Yang Ming’s Conservative Approach
Yang Ming Marine Transport was the only top 12 carrier to experience negative fleet growth, with a minor decrease of 1,918 TEUs.
This conservative strategy resulted in Yang Ming dropping from ninth to 10th in global rankings.
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Source: Container News
