TOP 10 shipping lines today

14 November 2026 | Logisticswall.com

The Global Container Shipping Power Shift: MSC's Rise, Maersk's Retreat and CMA CGM's Ambition

The global container shipping industry is witnessing one of its biggest competitive shifts in decades. For years, A.P. Moller–Maersk dominated the container shipping business. That position changed in January 2022, when Mediterranean Shipping Company (MSC) overtook Maersk to become the world's largest container carrier.

Nearly five years later, the gap has become enormous. MSC now operates approximately 7.5 million TEU of container capacity, compared with 4.71 million TEU for Maersk. More importantly, CMA CGM is steadily closing in on Maersk's second position.

This is no longer simply a competition between shipping companies. It is a race for fleet capacity, global network control, port access and long-term market influence.

Top 10 container shipping lines – November 2026

The following ranking is based on operated fleet capacity, including owned and chartered vessels, rather than cargo carried or annual revenue.

Source: Alphaliner Top 100, latest November 2026 snapshot; orderbook figures represent firm vessel orders.

The concentration is striking. The top five carriers control approximately 65.5% of global container fleet capacity, while the top ten account for approximately 85.1%.

How the industry changed between 2023 and 2026

The change becomes clearer when comparing market shares.

2023 figures are rounded published market shares; 2026 figures are the November 14 snapshot. Changes are percentage-point differences, not fleet-growth rates.

MSC: The most aggressive fleet expansion

MSC's rise has been remarkable. In 2013, its container fleet stood at approximately 2.4 million TEU. By 2023, it had reached around 5.1 million TEU. It now stands at approximately 7.5 million TEU.

That represents an increase of roughly 47% since 2023.

MSC's strategy has been different from that of Maersk. Rather than concentrating primarily on maintaining fleet size and building an integrated logistics business, MSC has pursued aggressive capacity expansion through second-hand vessel acquisitions, chartered ships and newbuild deliveries.

Its current orderbook of approximately 3.36 million TEU represents another substantial expansion opportunity.

MSC has also expanded its global network, terminal interests and logistics presence. Its growing fleet gives it considerable influence over available vessel capacity and commercial negotiations across major trade lanes.

Maersk: From market leader to second position

Maersk's decline is primarily a loss of relative market position, not a collapse in its business.

In January 2022, MSC overtook Maersk by just 1,888 TEU. The difference has since widened to approximately 2.8 million TEU.

For several years, Maersk maintained a relatively restrained fleet strategy, focusing on an integrated logistics model covering ocean transportation, warehousing, inland logistics and supply-chain management.

This strategic shift meant that Maersk was not pursuing fleet expansion at the same pace as MSC.

However, the company is now changing direction. In 2026, Maersk confirmed orders for 26 dual-fuel container vessels of approximately 18,600 TEU each, with deliveries scheduled for 2029 and 2030.

The challenge is that fleet expansion takes years. Maersk is still a powerful global operator, but it must now defend its second position against a much more aggressive competitor.

CMA CGM: The next challenge to Maersk

CMA CGM is perhaps the most interesting company to watch after MSC.

Its current fleet stands at approximately 4.48 million TEU, leaving a gap of only around 230,000 TEU behind Maersk.

The French group has pursued expansion through vessel orders, acquisitions, logistics investments and terminal operations. Its orderbook of approximately 1.68 million TEU provides considerable potential for further growth.

CMA CGM chairman Rodolphe Saadé has expressed the ambition to become the world's second-largest container carrier by the end of 2027.

The competition is therefore no longer about whether MSC can maintain first position. The immediate contest is whether CMA CGM can overtake Maersk.

What about the remaining seven carriers?

COSCO Group remains the fourth-largest operator, supported by its extensive Chinese shipping, terminal and logistics network. Its orderbook of approximately 1.87 million TEU is particularly significant relative to its existing fleet.

Hapag-Lloyd has maintained its fifth position, focusing on network efficiency, service reliability and strategic acquisitions, including its investment in the terminal business.

ONE (Ocean Network Express) continues to expand its fleet and remains a major competitor in East-West container trades.

Evergreen has strengthened its position through newbuild deliveries and continues to have a substantial orderbook.

HMM remains a significant South Korean operator, although its fleet expansion is more moderate than that of the leading carriers.

Yang Ming and ZIM complete the top ten. Both remain important operators in their respective global networks, but their capacity is considerably smaller than that of the leading five.

The next challenge: Too many ships, not enough cargo growth?

The most important question is whether global cargo demand will grow fast enough to absorb the capacity being ordered.

The combined orderbook of the top 100 carriers is now approximately 13.76 million TEU, equivalent to around 40% of their existing operated fleet.

The consequences could be significant:

• More vessel capacity will intensify competition for cargo.

• Freight rates could face sustained downward pressure.

• Carriers may resort to blank sailings, slower steaming and capacity management.

• Smaller and financially weaker operators could face greater pressure.

• Consolidation, vessel-sharing arrangements and strategic acquisitions may become more important.

A return to normal Suez Canal operations could add another layer of pressure by releasing capacity currently absorbed by longer Cape of Good Hope routes.

Logisticswall's view

The global container shipping business is entering a different competitive cycle.

MSC has won the fleet-size race through aggressive expansion. Maersk has prioritised an integrated logistics model but is now investing in fleet renewal and expansion. CMA CGM is using its orderbook to challenge Maersk's second position, while COSCO is building significant future capacity.

However, fleet size alone does not guarantee profitability. The coming years will test how efficiently these companies deploy their vessels, manage operating costs and secure cargo.

The industry could soon face a situation in which the world's largest shipping companies have more vessels than the market can economically absorb.

The next battle in container shipping may not be about who owns the largest fleet, but who can keep that fleet profitable when freight rates begin to fall.