The capacity cutback is another data point that provides pause for thought regarding the argument that a second-half demand/capacity balance would support a recent upswing in container shipping rates.
Mediterranean Shipping Co.
Mediterranean Shipping Company (MSC) is the world’s second largest shipping line. The privately owned company was founded in 1970 in Geneva, Switzerland. It operates worldwide, serving 6 continents and calling at 316 ports.
As of mid-August 2014, MSC operates 500 vessels with a combined capacity of more than 2.5 million TEUs (20-foot-equivalent units), according to Alphaliner. The company employs 29,000 people.
According to Alphaliner, MSC has the largest orderbook of any container carrier, at 42 vessels with a combined capacity of more than 480,000 TEUs as of mid-August 2014.
MSC was the second-ranked container carrier in U.S containerized import trade in 2013, with volume of 1,776,046 TEUs, up 3.4 percent year-over-year, giving it market share of 9.8 percent. It was No. 1 in U.S. containerized export trade in 2013, with volume of 1,558,214 TEUs, up 2.2 percent year-over-year and market share of 12.2 percent. For more carrier rankings see the JOC’s Top 40 Container Carriers special topic.
Mediterranean Shipping Co. and Maersk Line form 2M Alliance
In the wake of the rejection of the P3 Network, Maersk Line and Mediterranean Shipping Co. announced the 10-year 2M Alliance vessel-sharing agreement, dubbed "2M", on the Asia-Europe, trans-Pacific and trans-Atlantic trades.
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Webcasts
03 Sep 2018
The hub port of Felixstowe continues to face carrier fallout from delays experienced since Hutchison Port upgraded its terminal operating system in June.
27 Jul 2018
Although trade tensions between the United States and the European Union and their impact have been muted so far in 2018, trade stakeholders know that could change dramatically and quickly.
09 Jul 2018
Ocean carriers want to avoid being caught up in secondary sanctions that will be imposed by the United States on companies dealing with Iran.
22 Jun 2018
Several factors, including mega-ships deployed, North Asia congestion, rising bunker fuel prices, and the impact of Trump administration tariffs, are compromising schedule integrity in the trans-Pacific.
13 Jun 2018
In a strongly worded letter, Nik Delmeire, secretary general of the European Shippers Council (ESC), said container lines announced almost simultaneously that they would be applying a surcharge, which the ESC viewed as “tantamount to price signaling..."
11 Jun 2018
The increase in the price of bunker fuel, driven by crude oil’s 2017 to 2018 surge, is real. But beyond that ocean carriers face a tough sell with shippers regarding the inclusion of other surcharges, given spare capacity and a continued competitive market for shipper business.
07 Jun 2018
Shippers using the BoxTech database to track container weight and other information will get greater reach through the database, which now contains information on 40 percent of the world’s containers after Mediterranean Shipping Co. added its information.
25 May 2018
With such a sharp increase in bunker fuel prices that dragged carriers into a loss-making first quarter, it is no surprise that Maersk and Mediterranean Shipping Co. will levy an emergency bunker surcharge from June 1.
29 Jan 2018
A new schedule outlined by Mediterranean Shipping Co. will substantially cut the time needed to send cargo from Europe to the US East Coast.
24 Jan 2018
The first sailing of MSC’s fortnightly roll-on, roll-off West Africa service will begin Feb. 19 from Le Havre.
09 Nov 2017
The deal would complement MSC’s ZAO Container Terminal in Russia’s busiest port of St. Petersburg.
07 Nov 2017
The move by MSC and CMA CGM to order 20 new 22,000 TEU ships between them will not be followed by Maersk Line that says it has enough capacity "for now."
29 Sep 2017
Sponsored: MSC's Dimitri Ruggiero, vice president of global accounts, on the top concerns of Mediterranean Shipping Company's customers following 2016-2017 market turmoil including the "Hanjin effect." He discusses the importance of a balance of business stability and diversity, and speculation on larger-ship orders.
26 Sep 2017
MSC, which has been steadily upsizing its tonnage in India trades with larger vessels, has introduced a weekly call at NSIGT via its new service connecting to Asia, the Middle East, and Africa.
21 Sep 2017
In the past five days, 20 ships of 22,000 TEU have been ordered by two carriers.
30 Aug 2017
Houston and several other Texas and Louisiana ports hope to restart operations by Labor Day.
23 Aug 2017
The service, which will run until February, began last week.
18 Aug 2017
As of Aug. 16, Port Everglades has replaced Miami on the TA1/NEUATL1.
17 Aug 2017
Port of Los Angeles and GE Transportation will expand their pilot program across the entire port to establish a single electronic platform through which port users can share shipment information in a secure environment.
23 Jun 2017
Portonave is the second-largest container terminal in Brazil.
05 Apr 2017
Authorities are planning to investigate the cause of a fire that broke out in the bow of a 13,800 twenty-foot e
28 Mar 2017
Although the 2M Alliance will launch April 1, the HMM agreement will go into effect as soon as March 30.
23 Mar 2017
The Department of Justice declined to say why CEOs of major carriers were served subpoenas March 15 at the biannual Box Club meeting in San Francisco.
14 Mar 2017
“Maersk Line has no plans to implement a trust fund to further safeguard cargo.”
23 Feb 2017
It’s the first of what the small East Coast port hopes will be two new services coming to the gateway as ocean carriers and their alliances sort out port coverage this year.
13 Feb 2017
Maersk Line and MSC have expanded their Asia-North Europe and trans-Pacific services to accommodate the volumes from a slot deal signed with HMM and Hamburg Süd.
10 Feb 2017
In an exclusive interview, MSC CEO Diego Aponte says spring may finally be in the air for container carriers.
01 Feb 2017
The deal includes all of Hanjin’s equity interests and shareholder loans in Total Terminals International.
31 Jan 2017
Connections to international services and transshipment ports from Qatar are made via India’s Mundra port on the outbound leg.
26 Jan 2017
MOL is upgrading its CX1 feeder service from the Amazon River port of Manaus, Brazil, to Manzanillo, Panama.
13 Jan 2017
Northwest Seaport Alliance receives guarantee it said it needed to withdraw its objection to sale of former Hanjin terminal in Seattle.
06 Jan 2017
Port of Seattle wants MSC to post a bond guarantee before being allowed to purchase Terminal 46.
29 Dec 2016
Since Hanjin Shipping failed, the 2M has increased its share of imports from Asia to the United States.
22 Dec 2016
The Long Beach Board of Harbor Commissioners late Wednesday was expected to approve a lease with Terminal Investment Limited, the terminal operating subsidiary of Mediterranean Shipping Co., for the largest container terminal in the Port of Long Beach.
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