Global Container Shipping Market 2021-2026

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    For decades, since 1960s, the growth in container shipping volumes have outpaced global economic growth. At times, growing four times as fast as global GDP, reduced to just two after 2008 crisis and now it is down to less than 1.5. In coming years, in the light of on-going trade war and near-shoring, it could potentially come down to just 1.


    Info Graphic: global container shipping market, Container Shipping Market



  Timeline Developments
    1 Q4-2021 Maersk is partnering as a joint venture with Grindrod Limited to maximize the shipping activities of logistics and services in South Africa. Maersk to invest 51% in the joint venture to get access to the logistics services.
    2 Q4-2021 Taiwan’s shipping company Evergreen Marine Corporation ordered 24000 twenty-foot equivalent containers from China’s Jiangnan Shipyard in a $320 million deal.
    3 Q4-2021 CMA CGM group provides incentive offers for importing customers, to pick up their containers within eight days of arrival at Los Angeles and Long Beach. The incentive is $100 for daytime pickups and  $200 for night and weekend pickups within 8 days. 
    4 Q4-2021 Chinese company Cosco signed a joint venture agreement with 45% equity in Tianjin Container Terminal(TCT) to develop an international shipping hub in north China. Cosco also buys a 35% stake in Hamburg and Logistics.
    5 Q4-2021 Hyundai from South Korea received orders from French shipping company CMA CGA to construct 2000 twenty-foot equivalent containers in its Hyundai Mipo Dockyard(HMD) with a budget of $627 million.



    Hyundai Heavy Industries (HHI) and Nihon Shipyard Ltd have been contracted by Ocean Network Express (ONE) to build its first containership newbuilding. Orders have been placed for the Japanese joint venture container, which will be split equally between HHI and Nihon Shipyard. The container line’s newbuilding orders are intended to help lower the company’s carbon footprint.


    There is still a dispute in the industry about whether to use LNG as a fuel, which may lead to zero emissions, or to go straight to green fuels. The newbuilds were pre-programmed to run on ammonia or methanol as well as carbon capture and storage.


    ONE will be able to expand its long-term exploration of alternative fuels and decarbonization technologies in the future. It remains fully committed to attaining carbon neutrality in order to achieve sustainable marine transportation.


    Shanghai port is assisting in the stabilization of port operations both during and after the epidemic, and will make every effort to maintain Shanghai’s status as it is the world’s busiest container port.


    The US Department of Transportation has worked with ports to propose a container dwell fee to reduce port congestion, launched a trucking action plan to recruit and retain more drivers, funded pop-up container yards to get goods from ships to shelves faster while supporting agricultural exporters, moved supply chain operators toward 24/7 operations, and launched Freight Logistics Optimization Works (FLOW), a data sharing effort with Target, FedEx, UPS, True Value, and others.




    The US-China tariff war has hit container volumes between the two most important region Stand freight traffic is down by ~7% (Jan-Sep 2019). Vietnam has emerged as the biggest beneficiary of this and its exports have jumped by ~32% in the same period.



    Ocean freight rates are among the biggest indicators of global trade health, higher rates equate to higher freight demand and vice-versa. Another important metric is the number of containers in global circulation. There were ~ 22 Million 20-foot-equivalent units (TEU) containers in circulation as of Sep 2019.


    As od Sep 2019, the freight rates have been declining in all US and European trade routes for past few months. The freight rate between Shanghai to the US east coast was ~$2,700 for a 40Ft container in Aug 2019, ~24% lower than same period last year. As this is the time when retailers and distributors stock up good for upcoming holiday season, the declining rate are certainly not at all a good sign.


    The additional 71 ultra large ships (14,500 TEU+ capacity), which will be delivered by 2021 end will further bring down the rates.




    On January 1, 2020, the International Maritime Organization (IMO)’s rules on sulphur emission come into force – it will have a significant impact on the shipping industry. This legislation will ban any penalize and ban any ship emitting more than 0.5% of sulphur in its fuel, a sharp cut of 3% from present level. Therefore, planning for this low sulphur exhaust implementation will be one of the container shipping industry’s biggest challenges in 2019.





    infographic: Info Graphic: global container shipping market, Container Shipping Market


    The volume carried by container shipping is expected to be double by 2030. However, in the few years, the industry has been operating at a loss. If we look at YTD 2019, global container shipping volumes were just ~1.3% higher than in the same period of 2018.




  Timeline Company Developments
    1 Q4-2021 CMA CGM CMA CGM group has made a deal to acquire a majority stake in Fenix Marine Services in Los Angeles for $2.3 billion.
    2 Q3-2021 Adani Port Adani Port to reduce fees for the ships which use liquefied natural gas as fuel, the group will  cut 50% discount charges under CO2 reduction norms. 
    3 Q3-2021 Xeneta Shipping Index Xeneta Shipping Index from Norway, raises $28.5 million in its series C funding with a $130 million valuation, the funding is used for its business operations.
    4 Q4-2021 NYK  NYK shipping company is working to reduce green gas emissions from ships by researching battery hybrid systems with the partnership of Winterthur Gas and Diesel Ltd(WinGD) and the American Bureau of Shipping(ABS).


  Timeline Company Developments
    1 Q4-2021 Maersk Group  Leading shipping company Maersk Group announced third-quarter revenue of $16.6 billion with a 68% rise in revenue from last year’s same quarter due to high demand in global logistics.
    2 Q4-2021 HMM HMM shipping made $3.4 billion in revenue in the third quarter with total earnings ten times the previous year quarter.
    3 Q4-2021 CMA CGM CMA CGM made a total profit of $5.6 billion in the third quarter, the company’s shipping business doubling in sales for the period.
    4 Q4-2021 Evergreen Evergreen Marine Corporation announced a net profit of $2.88 billion during the third quarter.



    Following two years of deep consolidation which has resulted in an oligopoly status on major trade routes, consisting of just three main alliances –2M, THE Alliance, Ocean Alliance.





    container-shipping-market-share before consolidation

    Source: Internal database




    1. P. Moller Maersk
    2. MSC Shipping
    3. CMA CGM
    4. COSCO
    5. Evergreen
    6. Hapag
    7. OOCL
    8. YMMTC
    9. Hamburg Sud
    10. NYK



    1. The market size (both volume (Million TEU) and value($Billion) of container shipping market in 2021-2026 and every year in between
    2. Latest freight rate trends in container shipping market
    3. Impact of blockchain on container shipping market
    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2021-2026
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2021-2026
    19 Market Segmentation, Dynamics and Forecast by Application, 2021-2026
    20 Market Segmentation, Dynamics and Forecast by End use, 2021-2026
    21 Product installation rate by OEM, 2021
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2021
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
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