JOC Top 40 container carrier rankings first half 2019

JOC Top 40 container carrier rankings first half 2019

Ocean Network Express (ONE) grew its first-half US export volume 27.2 percent, the most of any of the top five carriers in the trade, rebounding from a 9.8 percent loss the previous year. Photo credit: Sheila Fitzgerald/Shutterstock.com.

United States containerized import and export volume growth may be slowing, but major container lines are showing restraint in how much market share they chase via the introduction of new vessel capacity, as reflected by an analysis of data from PIERS and Alphaliner.

France-based ocean carrier CMA CGM and subsidiary line APL handled the largest combined share of US containerized imports in the first half, with Geneva-based Mediterranean Shipping Co. closely following, according to PIERS, a sister product of JOC.com within IHS Markit. The top five carriers and common-owned companies maintained approximately the same share of US imports they had in the same 2018 period, at 62 percent, even as year-over-year volume growth slowed to 3.4 percent, from 7.8 percent last year.

MSC was the fastest growing of the five largest carriers of US imports in the first half, increasing its volume 9.1 percent from the same 2018 period. Chinese state-run carrier Cosco Shipping and subsidiary OOCL were the only lines to report a decline in volume during the period, as its total US imports slid 4.9 percent year over year.

Maersk Line led all carriers in terms of US exports, moving 14 percent of all outbound containers in the first half despite a 4 percent decline in volume from the first half of 2018, followed by MSC (13.4 percent), and CMA CGM and APL (12.3 percent). The top five carriers and common-owned companies increased their share of US exports in the first six months by 1.6 percentage points, to 60.3 percent.

Among the top five carriers of US container exports, Ocean Network Express (ONE) — the merged container operations of Japan’s NYK Line, Mitsui O.S.K. Lines, and “K” Line — saw the biggest gains, with first-half volume growth rebounding to 27.2 percent after a 9.8 percent loss the previous year. CMA CGM and APL saw the largest decline, with combined US export volume dropping 5.3 percent compared with a 3.4 percent increase in the first half of 2018.

Rising global competition and Chinese retaliatory tariffs on US exports continued to drag on total outbound US volume, pulling the overall year-over-year growth rate down to 1.6 percent. By comparison, US export volumes increased 8.2 percent year over year in the first six months of 2016, before decelerating to a 7 percent growth rate in 2017 and a 2.9 percent rate in 2018.

On the global stage, Maersk still leads the way in total capacity with an 18.9 percent share of the top-50 carrier fleet, according to maritime researcher Alphaliner, followed by MSC (16.3 percent), Cosco Shipping (13.3 percent), CMA CGM Group (12.3 percent), and Hapag-Lloyd (7.6 percent). Over the last few years, carrier consolidation via mergers and acquisitions has increased the total market share of the 10 largest fleet operators to 87.9 percent, with the top five operators now controlling 68.4 percent of deployed capacity.

Unlike several of the other large global carriers, however, Maersk has repeatedly told investors it had no plans to expand its existing capacity at present. True to its word, Maersk’s orderbook accounts for no more than 28,700 TEU of capacity, or 0.7 percent of its total fleet of 4.18 million TEU. By contrast, ninth-largest carrier HMM of South Korea has 20 ships on order with an aggregate capacity equal to approximately 97 percent (396,000 TEU) of its existing 408,285-TEU fleet.

“We maintain that we want to stay around 4 million TEU of deployed capacity,” Maersk Group CEO Søren Skou said during a conference call on Aug 15. “We will need some extra tonnage chartered in because we have ships retrofitting scrubbers and have invested a little more capacity in slow steaming this year. But we want to remain disciplined on capacity and stick to our guidance of 4 million deployed capacity, because it helps drive utilization up and unit costs down.”

JOC.com’s quarterly Top 40 Container Carriers rankings are compiled using data from PIERS and Alphaliner. Volume and capacity figures are expressed in twenty-foot equivalent units (TEU).

JOC Top 40 container carriers in US import trade lanes

US IMPORT, January-June 2019 vs. January-June 2015, 2016, 2017, and 2018 in laden TEU
The JOC Top 40 container carriers in the US import trade carried 99.7 percent of the 12 million TEU in the overall US import trade in the first half of 2019, a volume increase of 3.5 percent year over year and surge of 28.6 percent above 2015. The JOC Top 5 carriers garnered 62.2 percent of the US import trade lane, or 7.4 million TEU in the first half as volume rose 2.3 percent year over year, and spiked 26.7 percent above the same period in 2015.
 JANUARY-JUNE
US Imports
 Percent Volume Change
in Jan.-June 2019
OCEAN CARRIER*World,
U.S. Headquarters
Market Share2019 From 2015From 2016From 2017From 2018
1CMA CGM/APLMarseille; Norfolk, Va.Singapore; Scottsdale, Ariz.13.1%1,569,342 29.2%26.6%12.9%3.5%
2MSCGeneva; New York12.8%1,529,381 36.7%30.5%10.6%9.1%
3A.P. Moeller - Maersk*Copenhagen; Florham Park, N.J.12.6%1,507,274 33.7%19.7%11.2%1.7%
4Cosco Shipping/OOCLShanghai; Secaucus, N.J.; Hong Kong; Salt Lake City12.3%1,474,929 18.1%18.6%6.3%-4.9%
5Ocean Network ExpressSingapore11.4%1,365,676 17.0%14.7%-4.4%2.7%
 JOC Top 5 US Import Carriers62.2%62.2%     
 JOC Top 5 US Import Carriers' Market Share 7,446,602 26.7%22.0%7.2%2.3%
6Hapag-LloydHamburg; Piscataway, N.J.8.5%1,020,755 26.8%11.6%6.2%4.7%
7Evergreen LineTaipei; Jersey City, N.J.8.4%1,008,237 26.0%25.5%9.5%13.5%
8Yang Ming LineKeelung; Newark, N.J.3.9%467,637 16.3%13.9%3.5%1.5%
9HMMSeoul; Irving, Texas3.9%462,390 30.3%36.2%-2.2%0.5%
10Zim Integrated Shipping ServicesHaifa; Norfolk, Va.2.8%330,726 51.1%36.1%48.1%2.3%
11SM LineSeoul1.2%143,854   245.0%12.9%
12Pacific International LinesSingapore, Long Beach, Ca.1.1%135,119 215.1%111.0%28.1%-1.3%
13DoleJacksonville, Fla.1.1%131,966 10.9%2.6%7.6%-0.3%
14Seaboard MarineMiami, Fla1.0%118,767 22.9%23.3%18.0%4.1%
15CrowleyJacksonville, Fla.0.7%88,212 -9.2%-8.1%-18.0%-17.1%
16Great White FleetAntwerp; Cincinnati0.6%75,815 -5.6%2.9%5.4%27.7%
17Wan Hai LinesTaipei; Phoenix, Ariz.0.6%73,027 35.6%9.5%0.9%0.9%
18Del MonteCoral Gables, Fla.0.5%61,666 61.7%63.6%3.6%-0.4%
19MatsonOakland0.5%54,928 -0.5%23.2%0.1%11.7%
20Independent Container LineCopenhagen; Florham Park, N.J.0.4%50,660 11.0%22.3%10.4%6.0%
21ACL/Grimaldi GroupNaples; Westfield, N.J.0.4%50,591 36.2%22.7%-0.7%7.0%
22Turkon LineIstanbul; Secaucus, N.J.0.2%23,995 37.3%42.8%7.8%13.0%
23King Ocean ServicesDoral, Fla.0.2%21,857 100.1%55.7%20.4%7.2%
24Agriculture Investment Export Inc.Tegucigalpa, Honduras; Port Everglades0.2%21,123    58.4%
25Westwood ShippingPuyallup, Wash.0.2%19,860 -10.0%18.4%-1.5%9.4%
26Tropical ShippingRiviera Beach, Fla.0.2%19,074 -10.6%-1.0%-7.9%2.6%
27TOTE MaritimeJacksonville, Fla.0.2%18,597 -0.2%4.9%-11.1%-17.5%
28Linea PeninsularPanama City, Fla.0.1%13,947 50.4%61.3%15.5%24.4%
29World Direct ShippingPalmetto, Fla.0.1%13,498 381.9%233.2%129.3%138.4%
30Seth Shipping CorpVictoria MAHE, SEYCHELLES0.1%13,447 10.5%-10.5%75.7%8.3%
31Trailer BridgeJacksonville, Fla.0.1%10,038 -8.4%-21.5%4.0%-13.6%
32Marine ExpressSanto Domingo, Dom. Rep.0.1%7,895 15.4%23.0%23.8%3.2%
33Antillean LinesMiami, Fla0.1%6,759 111.7%92.9%64.7%32.3%
34EimskipReykjavik; Virginia Beach0.1%6,610 140.6%73.3%63.2%46.7%
35Priority Ro-RoMayaguez, Puerto Rico0.1%6,241 55.2%27.6%1.1%-3.8%
36Spliethoff TransportAmsterdam; Cleveland0.0%4,281 -10.5%13.3%-7.3%16.3%
37TransgulfMiami, Fla0.0%3,656   137.1%0.3%
38Trans Global Shipping IncMississauga, Kanada0.0%3,335 -33.5%-20.7%-34.5%-19.3%
39Polynesia LineSan Rafaeal, Calif.0.0%2,719 -21.6%-15.9%-4.8%5.0%
40SeacorFort Lauderdale0.0%2,468 96.7%61.7%57.6%55.8%
 TOTAL JOC TOP 40 US IMPORT CARRIERS99.7%11,940,353  28.7%23.6%8.7%3.5%
 TOTAL ALL US IMPORT CARRIERS100.0%11,981,215 18.7%15.1%7.8%3.4%
 MARKET SHARE OF ALL JOC TOP 40 US IMPORT CARRIERS 99.7%     

*A.P. Moeller - Maersk includes Maersk Line, Sealand, and Hamburg Sud.
Source: IHS Markit

 

JOC Top 40 container carriers in US export trade lanes

US EXPORT, January-June 2019 vs. January-June 2015, 2016, 2017 and 2018 in laden TEU
The JOC Top 40 container carriers in the US export trade carried 99.7 percent of the 6.5 million TEU in the overall US export trade in the first half of 2019, a volume increase of 1.6 percent year over year and surge of 8.2 percent above 2015. The JOC Top 5 carriers garnered 60.3 percent of the US export trade lane, or 3.9 million TEU in the first half as volume rose 4.3 percent year over year, and spiked 32 percent above the same period in 2015.
 JANUARY-JUNE
US Exports
 Percent Volume Change
in Jan.-June 2019
OCEAN CARRIER*World,
U.S. Headquarters
Market Share2019 From 2015From 2016From 2017From 2018
1A.P. Moeller - Maersk*Copenhagen; Florham Park, N.J.14.0%920,799 22.2%4.6%4.3%-4.0%
2MSCGeneva; New York13.4%877,507 15.5%10.8%6.4%2.5%
3CMA CGM/APLMarseille; Norfolk, Va.Singapore; Scottsdale, Ariz.12.3%809,010 18.8%19.5%3.4%-5.3%
4Ocean Network ExpressSingapore10.7%699,791 2.2%1.8%-9.8%27.2%
5Hapag-LloydHamburg; Piscataway, N.J.9.9%646,238 32.0%20.9%21.8%13.2%
 JOC Top 5 US Export Carriers60.3%60.3%     
 JOC Top 5 US Export Carriers' Market Share 3,953,345 17.4%10.7%4.1%4.3%
6Cosco Shipping/OOCLShanghai; Secaucus, N.J.; Hong Kong; Salt Lake City9.4%615,800 22.9%20.6%-0.2%-4.5%
7Evergreen LineTaipei; Jersey City, N.J.6.3%414,718 6.8%16.9%-2.2%-5.3%
8Yang Ming LineKeelung; Newark, N.J.3.9%256,103 33.7%30.5%6.6%13.4%
9HMMSeoul; Irving, Texas3.6%232,778 27.0%28.9%-1.5%2.6%
10CrowleyJacksonville, Fla.2.6%167,749 -5.1%0.5%1.5%-4.6%
11Seaboard MarineMiami2.5%161,513 4.3%4.2%-2.2%-9.9%
12Zim Integrated Shipping ServicesHaifa; Norfolk, Va.2.2%141,641 11.1%4.4%13.0%-8.8%
13TOTE MaritimeJacksonville, Fla.1.4%89,774 15.2%8.7%2.7%-17.5%
14Tropical ShippingRiviera Beach, Fla.1.1%71,872 10.7%15.5%6.1%5.5%
15SM LineSeoul0.8%52,029   291.6%14.9%
16King Ocean ServicesDoral, Fla.0.7%45,592 10.6%13.6%4.2%4.8%
17DoleJacksonville, Fla.0.6%41,770 37.8%66.3%37.5%18.2%
18ACL/Grimaldi GroupNaples; Westfield, N.J.0.6%38,499 1.8%8.9%-10.1%-2.3%
19Pacific International LinesSingapore, Long Beach, Ca.0.5%35,213 53.8%43.8%63.4%74.4%
20Independent Container LineCopenhagen; Florham Park, N.J.0.5%33,095 1.1%0.6%10.1%-3.3%
21Trailer BridgeJacksonville, Fla.0.5%30,282 -18.0%-5.5%-9.7%-14.2%
22Wan Hai LinesTaipei; Phoenix, Ariz.0.4%26,637 214.4%160.9%112.6%131.0%
23MatsonOakland0.4%23,306 -9.4%-18.9%-10.1%-10.5%
24Great White FleetAntwerp; Cincinnati0.3%21,955 -50.9%-50.4%-44.1%-30.4%
25SeacorFort Lauderdale0.2%11,995  9799.9%9.2%1.3%
26Antillean LinesMiami, Fla.0.2%11,544 16.4%4.5%-2.4%-3.8%
27Turkon LineIstanbul; Secaucus, N.J.0.2%10,812 -39.5%-34.5%-39.8%-35.0%
28Hybur ShippingCayman Islands; Port Everglades0.1%9,454 5.4%-20.7%-13.5%-13.6%
29Westwood ShippingPuyallup, Wash.0.1%9,178 -9.8%3.8%-1.4%-9.3%
30Del MonteCoral Gables, Fla.0.1%5,608 1.0%-15.5%6.4%39.2%
31Linea PeninsularPanama City, Fla.0.1%4,333 -45.6%-35.5%-19.5%-23.3%
32Bermuda Container LineHamilton, Bermuda; Newark, N.J.0.1%4,060 0.6%8.1%-18.4%3.4%
33Polynesia LineSan Rafaeal, Calif.0.0%2,450 -26.4%-32.4%-11.2%1.4%
34Somers Isles ShippingFernandina Beach, Fla.0.0%2,239 29.2%3.9%9.6%12.9%
35NileDutchRotterdam, Netherlands0.0%1,690   2314.7%868.7%
36Bermuda International Shipping Ltd.New York, N.Y, USA0.0%1,301 -30.0%-17.0%14.2%-1.1%
37ZEAMARINE Carrier GmbHBremen, Germany0.0%1,252     
38BahriRiyadh, Saudi Arabia0.0%1,155 -26.5%2.1%37.5%50.4%
39Schuyler Line NavigationAnnapolis, Md.0.0%1,087 486.6%-41.6%-27.1%-40.3%
40Universal Africa LinesCapelle aan den IJssel, Netherlands0.0%773 -74.7%-60.2%-45.2%-25.7%
 TOTAL JOC TOP 40 US EXPORT CARRIERS99.7%6,532,603  16.8%13.3%3.6%1.8%
 TOTAL ALL US EXPORT CARRIERS100.0%6,555,239  8.2%7.0%2.9%1.6%
 MARKET SHARE OF ALL JOC TOP 40 US EXPORT CARRIERS 99.7%     
*A.P. Moeller - Maersk includes Maersk Line, Sealand, and Hamburg Sud.
Source: IHS Markit