Commodities Economy News

MSC to become the world’s largest shipping company


MSC, the second largest shipping company in the world for many years, has finally overtaken Danish giant Musk. Global shipping industry is undergoing changes as a result of COVID-19 pandemic.

MSC overtakes Musk to become the world’s largest shipping company.

According to the Financial Times, MSC will reach the top spot for the first time in its 50-year history if the ship orders are added. In the wake of COVID-19, MSC is aggressively expanding its presence.

Maritime logistics have exploded as a result of the pandemic, which has resulted in a sharp increase in net income.

The global shipping industry has undergone severe restructuring, including mergers and ship sharing due to overcapacity over the past decade, but the crisis is being solved partly by online shopping, which has seen strong growth due to the pandemic. MSC has been able to grow as a result of this. MSC has purchased 43 new ships and 60 used ships since August, according to shipping consultancy Alphaliner.

Although MSC’s sales and profits are hidden due to the nature of the company as a private family-owned business, pre-pandemic sales are estimated to have exceeded $25 billion. Based on the number of containers that can be loaded, if ship orders are taken into account, it appears that it has surpassed Musk as the largest shipping company in the world.

According to Alphaliner, Musk can carry 42 million TEUs of containers on its ships, including ship orders, while MSC can carry about 50 million TEUs.

Musk leads by a narrow margin with the existing fleet alone. A tie for third place is between China’s Costco and France’s CMA CGM. Korean HMM is ranked 8th after Taiwanese Evergreen.

To MetaNews.


Jonathan Hobbs

Jonathan Hobbs is an Australian investor and author that trades on a variety of asset classes, including currencies, equities, and commodities. Jonathan’s experience as a macro trader leverages his unique writing style to combine important elements, such as technical analysis and news. The other elements that he brings into his unique writing styles are foundation analysis aimed at rational equilibrium values, evaluating the sizes and motivations of buyers and sellers, as well as identifying the needs of the buyers and sellers in the individual markets. Jonathan is committed to quality writing for new traders as well as veterans.

Related Posts