Container shipping seems to be on the path of rapid growth, as global goods demand is flourishing, especially during this time of the year, due to Christmas holidays. As a result, sea transportation companies are faced with major challenges, something which can explain the major restructuring of the sector. The keywords now is concentration and consolidation.
During 2007, the world container fleet is estimated at 5,931 vessels, with a total carrying capacity of 11,576,008 TEUs. According to the latest figures provided by AXS-Alphaliner, APM-Moeller Maersk is topping the world list of container shipping companies (Safmarine included). Maersk Line is operating a fleet of able to carry 1,851,872 TEUs, which provided the Danish group a market share of 16%. Next in line is Mediterranean Shipping Company (MSC), with a share of 10.5% or 1,216,588 TEUs. Third place is occupied by French liner CMA-CGM, with a carrying capacity of 856,971 TEUs, which provides for a market share of 7.4%. According to Evergreen's data, 2007 saw the addition of a capacity of about 1.4 million TEUs. Evergreen is the fourth largest container company worldwide, with a market share of 5.3%. What is evident is the shipowners' turn towards post-panamax vessels, with capacities of over 10,000 TEUs. From four such vessels operating this year, their numbers are expected to surge to 151 by 2011. In fact, the majority - if not all - of these vessels are expected to be employed in the lines of Asia-Europe, in order to meet surging demand. These shipping "giants" offer increased productivity and economies of scale, although a question is raised on ports' ability to serve such vessels, since more investments are needed in ports infrastructure. In Asia such works are already under way, but in the U.S. and Europe delays are observed. The future will tell on how the market is shaped as big shipping groups keep expanding at rapid pace, leaving small room for smaller liner companies.
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