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Global Container Shipping Industry: Capacity Growth and Changing Rankings in 2024

According to the latest data released by Alphaliner as of January 2nd, 2024, the total number of operational container ships worldwide reached 6,781, an increase of 265 compared to the same period last year. The global capacity amounted to 28,518,895 TEU, an increase of 2,117,946 TEU, representing a growth of 8.04% year-on-year.

In terms of capacity rankings, there have been some changes among the top 20 shipping companies compared to a year ago. Ocean Network Express (ONE) and Evergreen Marine have switched positions, ranking sixth and seventh, respectively. X-Press Feeders climbed four spots to reach the 14th position. Hyundai Merchant Marine and Iran Shipping Lines dropped one spot each, ranking 15th and 16th, respectively. Sinotrans Limited fell to the 19th position.

Singapore-based PIL and Chuan Hup Holdings entered the top 20, ranking 18th and 20th, respectively. Pacific International Lines (PIL) and Chuan Hup Holdings entered the top 20, ranked 18th and 20th, respectively. De Xiang Shipping and Antong Holdings, on the other hand, dropped off the list.

In terms of specific capacity, compared to the same period in 2023, Mediterranean Shipping Company (MSC) recorded the largest increase in total operational capacity, adding 1,032,767 TEU and 88 vessels, the most significant capacity increase among the top 20 shipping companies.

ONE’s total operational capacity increased by 274,313 TEU, with an addition of 29 vessels. The total operational capacity of COSCO Shipping Lines increased by 186,228 TEU, with 24 additional vessels. Hapag-Lloyd’s total operational capacity increased by 180,424 TEU, with 17 more vessels.

Furthermore, X-Press Feeders, Wan Hai Lines, and other companies also experienced varying degrees of capacity growth.

Among the companies with reduced capacity, Maersk saw the largest decrease, with a decline of 141,737 TEU and a reduction of 37 vessels. HMM’s total operational capacity decreased by 34,335 TEU, with a decrease of 6 vessels. Iran Shipping Lines’ total operational capacity decreased by 6,746 TEU, with a reduction of 2 vessels. Pacific Basin Shipping had a decrease of 2,342 TEU in total operational capacity, with 3 fewer vessels. Hyundai Merchant Marine’s total operational capacity decreased by 354 TEU, with a reduction of 2 vessels.

In terms of new shipbuilding, Evergreen Marine Group recorded the highest increase in capacity over the past year, adding 511,157 TEU and 30 new ships. Evergreen Marine Group recorded the highest increase in capacity over the past year, adding 511,157 TEU and 30 new ships. Evergreen Marine Group recorded the highest increase in capacity over the past year, adding 511,157 TEU and 30 new ships. Evergreen Marine Group recorded the highest increase in capacity over the past year, adding 511,157 TEU and 30 new ships. Evergreen Marine Group recorded the highest increase in capacity over the past year, adding 511,157 TEU and 30 new ships. Evergreen Marine Group recorded the highest increase in capacity over the past year, adding 511,157 TEU and 30 new ships. Long-haul Shipping’s new ship capacity increased by 333,600 TEU with the addition of 19 new ships. Maersk’s new ship capacity increased by 84,184 TEU with 6 new ships. HMM added 81,000 TEU of new ship capacity with 6 new ships.

Please note that the information provided is based on the data available up to January 2nd, 2024, and the specific ranking for 2024 may vary. It is recommended to stay updated with industry reports or follow Alphaliner for the latest data.

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