MSC Ordered New Ships

Mediterranean Shipping (MSC), the world's largest container shipping company, recently placed an order for 20 LNG-powered dual fuel container ships from China New Era Shipbuilding Co., LTD. After delivery of the order, Mediterranean shipping capacity will increase by nearly 200,000 TEU.

Over the past year, with the soaring shipping rates, the global shipping industry rebounded strongly and entered the golden week. Taking advantage of the expansion, MSC bought 169 container ships in 18 months. Earlier this year it overtook Maersk, which had topped the list for 20 years, and has continued to expand its capacity. Mediterranean Shipping's determination to cash in on the shipping market's record-breaking golden cycle is clear.

However, just as MSC ordered new vessels, its old rival Maersk warned that an unprecedented boom in the global container shipping market was coming to an end. How long can the global shipping market stay hot? After the party, will there be excess capacity?

According to the report, the world signed a total of 1,671 new ship orders in 2021, up 77.1% year on year in terms of deadweight ton, among which container ships grew 326.9% year on year, the most prominent growth among all ship types. In addition to Mediterranean Shipping, cMA, Cosco shipping and other large shipping companies are also ordering new ships. There is a view that shipping giants are buying ships is the best endorsement of the container market's continued prosperity. There is also analysis that the global shipping market golden week is about to hit the peak.