The top ocean carriers account for the vast majority of freight movement around the world. In fact, approximately 80 percent of goods are transported via steamship line at some point in their journey. Put another way, roughly 11 billion tons of cargo moved across the seas in 2021. Because of that, financial numbers for ocean carriers by company and combined are quite significant. Show Total net profits for container shipping lines in 2022 a record $215 billion, eclipsing the previous record of $148 billion set the year prior. Closer to home, international container shipping companies moved more than 40 percent of all freight value to and from the U.S. in 2021 - accounting for more $1.8 trillion worth - and about 69 percent of the weight (amounting to over 1.6 billion tons). Both of those were the top figures of any freight mode and include imports as well as exports. In sum, if you're moving goods via international shipping services in any way, some portion of that journey is likely on the water. And that means knowing the best ocean carriers of 2023 can help you know just who is responsible for carrying that cargo. Top 12 Ocean CarriersThe top 12 ocean freight carriers are listed here by volume and market share. These can fluctuate year to year, but stopping at 12 accounts for the best international shipping companies with at least one percent of that share with the help of multiple sources which track these figures by TEU.
What Is TEU?TEU stands for twenty-foot equivalent units, which refer to 20-foot ocean containers. The TEU is a widely used unit of measurement in sea freight (and for freight shipping companies overall). For instance, TEUs are the units that convey a ship's capacity. Also, as noted above, TEUs measure a cargo shipping company's total volume. Additionally, shippers and logistics companies should be well aware of these units of measurement, as ocean carriers provide rates via TEU. That means arriving at the total cost of a shipment involves multiplying the per-TEU shipping rate by the number of TEUs. A twenty-foot equivalent unit can typically hold between nine and 11 pallets. While this container size is still in use, more common today are 40-foot containers - also referred to as FEUs for forty-foot equivalent units. Two TEUs equal one FEU in those capacity, volume and pricing calculations, though some may provide separate rates for FEUs. An FEU does hold roughly double a TEU, up to about 23 pallets. The container shipping industry is a highly competitive and challenging business. With fluctuating demands and pressures from market trends, only the strongest and most efficient liners survive. As the industry continues to evolve, the capacity and market share have become important metrics for ranking the top players. So, in this article, we present to you the top 5 container lines for 2023 based on their total capacity and market share. Mediterranean Shipping Line (MSC): MSC has made an impressive leap to become the world’s largest container line with a total capacity of 4,832,709 TEU and an 18.2% share of the market. With 740 vessels in operation and a massive growth plan, the Swiss-headquartered company is expanding its global presence rapidly. MSC’s emphasis on technology and digitalization has helped it optimize its operations and improve its customer experience. MSC was founded by Gianluigi Aponte in Italy in 1970, with headquarters in Switzerland since 1978. The privately held company is owned by the Aponte family. MSC has burst into first place after world-famous Maersk Line held the position since the mid-90s, and they made record earnings before interest and taxes (EBIT) of US$220bn last year, according to Sea-Intelligence estimates. Maersk Line: The company is based in Copenhagen, Denmark, with subsidiaries and offices across 130 countries and over 100,000 employees worldwide in 2022. It is a publicly traded family business, as the company is controlled by the namesake Møller family through holding companies. Arnold Peter Møller (1876-1965) and his father, Peter Mærsk Møller, founded what would later become A.P. Moller-Maersk in 1904. Maersk Line has held the top position for decades, but in 2023, it comes in second with over 4.1 million TEU and a 15.3% market share. The company is transforming its operations with an ambitious strategy to become carbon-neutral by 2050. With its focus on sustainability and innovation, Maersk is primed to continue as a key player in the container shipping industry. Maersk is also aiming to launch the world's first carbon-neutral vessel, due to be launched at some point in late 2023, seven years ahead of its original schedule. CMA CGM: The French company has held its own in third place for decades. With a total capacity of 3.5 million TEU and a market share of 13.3%, CMA CGM has a strong presence in major trade lanes and has continued to expand its global reach. Jacques Saadé had created CMA in 1978 as an intra-Mediterranean liner service operator, based in Marseille. In 1996, CGM was privatized and sold to Compagnie Maritime d'Affrètement (CMA) to form CMA CGM. In 1998 the combined company purchased Australian National Lines (ANL). COSCO Group: The Chinese conglomerate, COSCO Group, is at the fourth spot with a capacity of 3.21 million TEU and a market share of 12.3%. The merger of China Shipping Group and COSCO in 2016 created a major player in the container shipping industry. With a focus on developing its digital capabilities, sustainability, and innovation, COSCO is set to continue as a key player in the industry. Hapag-Lloyd: Hapag-Lloyd, the German shipping company, is in the fifth spot with a total capacity of 1.98 million TEU and a market share of 7.5%. With a focus on digitalization, sustainability, and customer-centricity, the company has been able to optimize its operations and provide excellent customer service. Hapag-Lloyd has continued to grow over the years, and its focus on innovation has helped it remain competitive in the market. What is the top shipping company in the world 2023?Top 30 International Container Shipping Companies. Shipping Household Goods and Personal Effects Overseas.. Mediterranean Shipping Company S.A. (MSC). A.P. Moller-Maersk Group.. CMA CGM Group.. China COSCO.. Hapag-Lloyd.. Evergreen Marine Corporation.. ONE (Ocean Network Express). What is the world's largest container ship in 2023?As of March 2023, the record for the largest container ship is held by the MSC Irina, MSC Loreto and MSC Michel Cappellini built by Yangzijiang Shipbuilding, with the capacity of 24,346 TEU. What is the container shipping trend in 2023?The global container fleet is forecast to grow by 6.3% in 2023 and by 8.1% in 2024. Supply is set to rise with the easing of port congestion and deliveries of new vessels ordered during the boom period of the past two years. Who is the biggest container shipping company in the world?Ranked: The World's Largest Container Shipping Companies. |
