Mediterranean Shipping Company (MSC) is solidifying its position as the world’s largest container ship owner, with plans to finalize a major dual-fuel container ship order worth over $1 billion by the end of 2025.
MSC has returned to Zhoushan Changhong International, planning to place an additional order for 6+4 11,400 TEU LNG dual-fuel container vessels, according to TradeWinds. The first batch of 6 vessels is expected to be delivered in 2029. The shipbuilding price for this order has not been disclosed.
The price of this order has not been disclosed. Shipbrokers estimate each vessel will cost approximately $140 million. Including the option orders, the total value of the 10 new vessels is about $1.4 billion (approximately RMB 9.86 billion).
Shipbrokers indicate that MSC and Zhoushan Changhong International are striving to finalize a formal shipbuilding contract before year-end, at which point Zhoushan Changhong International’s order backlog will extend through late 2029. Including Zhoushan Changhong International, the majority of delivery slots at several major Chinese shipyards for 2029 have already been booked, with some yards’ delivery schedules extending into 2030.
As MSC’s largest global shipbuilding partner, if the latest order for 10 new vessels is finalized within the year, it will bring the total number of container vessels contracted between the two parties since 2023 to over 50. These vessels range in capacity from 10,300 TEU to 22,000 TEU, with delivery schedules extending as far as 2029.
Specifically, this includes 10 11,400 TEU container vessels and 10,300 TEU container vessels in 2023; 12 19,000 EU container vessels in 2024; 4+2+2 22,000 TEU container vessels, 2 21,700 TEU container vessels, and the latest 6+4 11,400 TEU container vessels in 2025. All new vessels will adopt an LNG dual-fuel design.
This marks the second order announced by Zhoushan Changhong International this month, with the combined value of both orders totaling approximately $4.2 billion (equivalent to RMB 29.58 billion).
TMS Group, owned by Greek shipping magnate George Economou, placed an additional order for 8+2 vessels of 11,400 TEU LNG dual-fuel container vessels with Zhoushan Changhong International at the beginning of the month. This brings TMS Group’s total orders with Zhoushan Changhong International to 18+2 vessels of the same type, with a maximum of 20 newbuildings valued at approximately $2.8 billion (about RMB 19.7 billion).
The 11,400 TEU LNG dual-fuel container vessel was independently developed by CIMC Ocean Engineering Design & Research Institute (CIMC ORIC) with full intellectual property rights. It has an overall length of 299 meters, a beam of 48.2 meters, and a draft of 27 meters.
As a leading shipyard in the Zhoushan region, Zhoushan Changhong International has added multiple gantry cranes with capacities of 1,000 tons and 1,300 tons in recent years, and has recently established a wholly-owned subsidiary.
In September this year, the investor of Zhejiang Zengzhou Heavy Industry changed from Zhoushan Hongzhou Shipbuilding to Zhoushan Changhong International Ship Repair and Construction. Established on August 20, 2007, Zhejiang Zengzhou Heavy Industry occupies a site area of 500,000 square meters with 800 meters of deep-water coastline. It stands as one of Zhoushan City’s key projects for attracting large-scale ship repair and construction industries.
Currently, Changhong International has established three major shipbuilding and repair industrial bases in Dinghai District, Putuo District, and Daishan County of Zhoushan City, namely Zhoushan Changhong International Shipbuilding & Repair (headquarters), Zhoushan Putuo Changhong Shipbuilding & Repair, and Zhoushan CIMC Changhong Shipbuilding & Repair.
With a total investment of over RMB 10 billion, the three bases cover a total area of more than 6.5 million square meters and have a total coastline of over 20,000 meters. Their annual shipbuilding capacity exceeds 5 million deadweight tons, annual ship repair capacity reaches over 500 vessels, and annual shipbreaking capacity stands at 1.2 million light displacement tons.
With the announcement of 10 new vessels undertook by Zhoushan Changhong International, MSC’s total investment in the container newbuilding market has surged to approximately $8.5 billion by 2025, with over 30 vessels on order—all constructed by Chinese shipyards.
In addition to the orders from Zhoushan Changhong International, these include eight 22,000 TEU container vessels for Hengli Heavy Industries, four 22,000 TEU container vessels for Waigaoqiao Shipbuilding, three 22,000 TEU container vessels for Jiangsu Hantong Ship Heavy Industry (HT) , and 3+3 vessels of 22,000 TEU container ships from China Merchants Heavy Industries Haimen shipyard (CMHI Haimen shipyard). Each vessel carries a construction cost exceeding $200 million and features LNG dual-fuel design.
Since becoming the largest shipping company in the container industry in early 2022, MSC has been consolidating its position as the world’s number one. In just over three years, its capacity has exceeded 7 million TEU, and it has 117 new vessels under construction, totaling 2.09 million TEU, which also ranks first in the world.