The P3 operating alliance of Maersk Line, Mediterranean Shipping and CMA CGM in the east-west container trades doesn’t start until the second half of 2014, but each of the three carriers has already made its mark in the U.S. container trades and on global orderbooks.
The P3 Network carriers together held a 27.1 percent share of the U.S. laden container trade in the first half of 2013, or 4.1 million 20-foot-equivalent units, slipping 0.5 percent year-over-year. The P3 lines’ U.S. exports totaled 1.8 million TEUs or 28 percent of the market, while their import volume was 2.3 million TEUs, or 26.5 percent of market. MSC had 11.1 percent of the total U.S. market or 1.7 million TEUs, followed by Maersk with 9.9 percent market share or 1.5 million TEUs. CMA CGM held 6.3 percent of the U.S. container market or 0.9 million TEUs in the first half.
Overall U.S. container volume, excluding empties, rose 1.5 percent year-over-year to 15.1 million TEUs in the first half of 2013. First half U.S. imports increased 2.2 percent to 8.7 million TEUs, and represented 57.9 percent of total U.S. trade. Volume at 13 of the JOC Top 40 Import carriers declined year-over-year.
|Market Share||JANUARY-JUNE TEU VOLUME||Percent Volume Change in First Half 2013|
|Total Trade 2013||Trade-lane 2013||2008||2009||2010||2011||2012||2013||From 2008||From 2009||From 2010||From 2011||From
|The JoC Top 5 U.S. Export Carriers||40.5%||2,358,318||2,024,467||2,254,303||2,531,053||2,567,570||2,564,788||8.8%||26.7%||13.8%||1.3%||-0.1%|
|All U.S. Export Carriers||100.0%||6,221,429||5,132,963||5,728,752||6,222,426||6,309,467||6,340,243||1.9%||23.5%||10.7%||1.9%||0.5%|
|The JoC Top 5 U.S. Import Carriers||40.6%||3,492,804||2,779,393||3,230,835||3,300,164||3,522,426||3,547,341||1.6%||27.6%||9.8%||7.5%||0.7%|
|All U.S. Import Carriers||100.0%||8,514,439||6,818,970||7,878,191||8,338,186||8,550,859||8,736,969||2.6%||28.1%||10.9%||4.8%||2.2%|
|TOTAL U.S. TRADE||100.0%|
|The JoC Top 5 U.S. Export & Top 5 Import Carriers||40.5%||5,851,122||4,803,859||5,485,138||5,831,218||6,089,996||6,112,129||4.5%||27.2%||11.4%||4.8%||0.4%|
|All Carriers, Exports and Imports||100.0%||14,735,868||11,951,933||13,606,943||14,560,612||14,860,326||15,077,212||2.3%||26.1%||10.8%||3.5%||1.5%|
|TEU count includes all international containerized oceanborne cargo loaded or discharged at U.S. ports, including trade with Puerto Rico.|
|We have compared the carriers in the first half of 2013 rankings with their TEU volumes across 2008-2012 to capture the trade progress in pre-recession, recession and post-recession volumes.|
|Compiled by Marsha Salisbury, JOC research editor, email@example.com, or Tel. 973-776-7828.|
|Sources: PIERS, www.piers.com, a sister company of The Journal of Commerce and a division of JOC Group Inc.|
U.S. exports during the first half of 2013 rose by 0.5 percent, totaling 6.34 million TEUs. Volume was 23.5 percent above the Obama administration’s National Export Initiative baseline first half 2009 results. Individual first half 2013 carrier results were mixed, with year-over-year declines seen at 15 of the JOC Top 40 Export carriers.
As of Sept. 23, container shipping industry analyst Alphaliner calculated active global liner trade capacity at 17.6 million TEUs on 5,957 ships. Those totals included 17.1 million TEUs of capacity aboard 4,979 fully cellular active ships. That represented an increase of 2.1 percent, or 368,175 TEUs, from early June, with 23 more ships in the fleet. The 10 largest fleet operators control 65.2 percent of the market with 11.2 million TEUs of capacity — 48.8 percent owned and 51.2 percent chartered. The Top 10 fleet operators have 152 ships on order, totaling nearly 1.8 million TEUs and representing 15.8 percent of their existing fleet capacity.
How do the P3 carriers stack up in the global container fleet? They were 1-2-3 in the Alphaliner global container fleet operators’ existing fleet capacity rankings, with an overall 36.9 percent market share as of Sept. 23. Top-ranked A.P. Moller-Maersk — which includes Maersk Line, Safmarine, MCC-Transport, Seago Line and Mercosul Line — held a 14.9 percent share of the global container ship fleet with 2.6 million TEUs. MSC was second with nearly 2.4 million TEUs and a 13.4 percent share. CMA CGM had 1.5 million TEUs and an 8.5 percent share.
Together, the P3 carriers have 78 ships on order with a cumulative 981,281 TEUs of capacity representing 15.1 percent of their combined existing total, Alphaliner reports. MSC has 475,201 TEUs or 20.1 percent of its existing fleet on order, A.P. Moller-Maersk has 310,590 TEUs or 11.8 percent, and CMA CGM Group has 195,490 TEUs or 13 percent.