Mediterranean Shipping Company (MSC) and TMS Group have solidified a significant investment in the maritime industry with new orders surpassing US$3 billion at the Chinese shipyard, Zhoushan Changhong International . The move highlights their commitment to expanding their fleets with advanced container vessels.
MSC, under the Aponte family, has commissioned the construction of four 21,700-TEU LNG dual-fuel container vessels, with options for two more. Each vessel's estimated cost is over US$205 million, bringing the total commitment to more than US$1.6 billion if all options are exercised. The vessels are expected to be operational by 2028.
This order reflects the strong relationship between MSC and Zhoushan Changhong , which has resulted in 32 vessels ordered in recent years. According to industry data, MSC already has 129 vessels on order, emphasizing their strategic expansion in capacity.
In a significant return to the container shipping market, industry leader George Economou's TMS Group is investing approximately US$1.4 billion in ten 11,400-TEU LNG dual-fuel ships. This endeavor marks TMS Group's first collaboration with Zhoushan Changhong and Mr. Economou's reentry into the container sector.
Amidst growing interest in alternative fuels, both MSC and TMS Group are prioritizing LNG for their new vessels, establishing LNG as the dominant choice in the container ship newbuilding market. The rise in LNG-capable vessel orders underscores the industry's shift toward sustainable fuels.