- MSC (Mediterranean Shipping Company) has solidified its leading position in the AsiaEurope trade, contributing significantly to the capacity growth in response to the Red Sea crisis.
- The latest report from Alphaliner reveals that MSC’s strategic fleet expansion has resulted in a 54% increase in slot supply, securing a 22% market share on the AsiaEurope lane.
- Despite the impending breakup of the 2M alliance, MSC’s continuous fleet growth has propelled the alliance to become the largest in the trade, surpassing competitors.
MSC’s Remarkable Capacity Growth
In response to the Red Sea crisis and the consequent diversion to the Cape of Good Hope, MSC has recorded substantial capacity growth in the AsiaEurope lanes. The company added 279,000 TEUs to services operated within the 2M alliance with Maersk Line and an additional 208,500 TEUs for its standalone services, reinforcing its position as a major player in the region.
Market Dominance and Alliances
MSC’s capacity additions, totaling 488,500 TEUs, translated to a remarkable 54% increase in slot supply. This development has given MSC a commanding 22% market share on the AsiaEurope lane, outpacing its closest rival, Maersk, which holds about 16%. The imminent breakup of the 2M alliance in 2025 does not diminish MSC’s dominance, as its fleet growth has enabled the alliance to become the largest megaalliance on the trade, boasting a market share of 33.4%.
Changes in Alliance Dynamics
The report highlights shifts in alliance dynamics, with the Ocean Alliance experiencing a decline in market share to 33%, down from 37.5% in the previous year. Challenges, including delays in receiving newbuildings and staffing issues, have contributed to this decrease. THE Alliance’s market share has also fallen to 23.3%, impacted by the suspension of its FE5 Southeast AsiaNorth Europe route in November 2023.
Rise of Non-Alliance Players
The void left by some opportunistic newcomers exiting the market has been filled by Russiafocused players like OVP Shipping, New New Shipping, and Safetrans. Although deploying smaller ships, these nonalliance carriers have doubled their capacity from 154,600 to 308,300 TEUs in the past year, collectively holding a 5% market share.
Did you subscribe to our daily Newsletter?
It’s Free! Click here to Subscribe
Source Container News
