MSC’s Rapid Expansion In The Secondhand Market

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  • Mediterranean Shipping Company (MSC) has shown no sign of slowing down its rapid fleet growth, linked this week to the acquisition of another four ships.
  • Alphaliner estimates the price to be in the high-$60m range.
  • MSC has now added around 124 secondhand box ships since it started its buying spree in the second half of 2020.
  • The line is now poised to overtake Maersk as the world’s largest container line.

The Mediterranean Shipping Company (MSC) has shown no signs of slowing down its rapid fleet expansion, with the addition of four new ships this week as reported by Splash.

Fleet expansion

Brokers say the Swiss-based corporation paid roughly $210 million for the 2014-built 4,896 teu X-Press Jersey and the 2015-built 5,001 teu X-Press Guernsey from Singapore’s Sea Consortium. The agreement, according to Alphaliner, is a new high for ships of this size and age.

MSC is also tied to the purchase of Lomar Shipping’s 6,039 teu Los Angeles Trader and Long Beach Trader, which were built in 2007. Clarksons has stated that the vessels were sold to MSC for an unknown sum. The price is expected to be in the mid $60 million level, according to Alphaliner.

Since starting its buying frenzy in the second half of 2020, MSC has added roughly 124 secondhand box ships.

MSC presently has a 243-vessel owned fleet, with another 382 chartered in and 60 on order, according to Alphaliner. The company is on the verge of displacing Maersk as the world’s largest container line.

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Source: Splash

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