MSC Expands LNG Fleet with New Ship Orders
Mediterranean Shipping Company (MSC) has significantly increased its investment in LNG-fueled vessels by ordering eight additional 11,500 TEU dual-fuel containerships from China’s Penglai Jinglu Shipyard. This latest acquisition brings the total number of sister ships in this series to 16, following an initial order placed in 2024. The total value of this extensive program is estimated to reach approximately $2.2 billion, with each ship priced between $135 million and $140 million. Scheduled deliveries are set to continue through 2029.
Strengthening Commitment to Alternative Fuels
The new ships will replicate the design and specifications of the initial batch, emphasizing MSC’s dedication to alternative-fuel technology even amid a challenging market for container shipping. The LNG dual-fuel propulsion system is a key feature of this series, showcasing MSC’s strategy to invest in sustainable shipping solutions. Despite current market softness, the company remains optimistic about the future of LNG-fueled tonnage.
In addition to the LNG vessels, MSC is also diversifying its fleet with new orders in the mid-sized segment. Recent reports indicate that the company has contracted for newbuilds at Yangzhou Guoyu Shipyard, including at least two firm orders for 5,000 TEU ships, with potential options for more. These conventionally fueled vessels are expected to be delivered in the second half of 2028, with market analysts suggesting a price point below $60 million due to their relatively simple designs and limited reefer capacity.
MSC currently leads the industry with the largest orderbook, boasting over 2.1 million TEU on order, which accounts for nearly 30% of its existing fleet capacity. Most of these orders are for ships with capacities of 10,000 TEU and above, extending up to 24,000 TEU. Meanwhile, the Geneva-based carrier has also been active in the secondhand market over the past four years, acquiring sub-10,000 TEU vessels to bolster its regional and feeder services.
