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At MSC we pride ourselves on being a global container shipping company that delivers tailored solutions designed to meet the specific needs of each of our customers. Regardless of your cargo type, or final destination, we offer versatile solutions that cover air, land, and sea. Thanks to the extensive capacity of our container fleet, MSC is the trusted transportation partner and shipping company for numerous companies the world over. Combining this with our global port coverage and extensive equipment availability means, we are able to deliver a professional, efficient shipping service, tailored to the specific needs of your business.

As a family-run company, we put people first. Our vision is to open up a world of opportunities for customers by continually investing in stable, robust and sustainable shipping and logistics solutions. We're proud to support people, infrastructure, economies and the environment across all our regional and international trade routes, providing the foundation for global trade and keeping our customers' cargo flowing, even in challenging times. Whether you're moving essential goods, such as medicine and fresh produce, or luxury products, such as cars or precious commodities, you can trust us to deliver flexible solutions across our integrated global network of road, rail and sea transport and logistics solutions.

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Mediterranean Shipping Company S.A, branded as MSC, is an international shipping line founded by Gianluigi Aponte in Italy in 1970. The company is owned by the Aponte family with its headquarters in Switzerland since 1978.[5] It is the world's largest container shipping company by both fleet size and cargo capacity,[6] controlling about 19.7 percent of the global container ship fleet.[7] As of November 2023, MSC operates over 790 container vessels with an intake capacity of 5,505,417 twenty-foot equivalent units (TEU).[8] MSC subsidiaries operate rail freight transport in Portugal and Spain, cruise ships, and cargo aircraft. MSC operates 524 offices in 155 countries with its headquarters in Geneva, Switzerland and has over 100,000 employees.[8] MSC's shipping line sails on more than 215 trade routes, calling at over 500 ports.[8] As of August 2023, it operates vessels with a capacity of up to 24,346 TEU, including the world's largest container ships such as MSC Turkiye and MSC Michel Cappellini.[9][10] The company is independent and wholly owned by the Aponte family under the leadership of Diego Aponte. Diego was appointed president and CEO by his father and company founder Gianluigi in October 2014.[7] In December 2020, Soren Toft became MSC Chief Executive Officer.[11] Since 1989, MSC has owned the holiday cruise division MSC Cruises.[12] In 2015, MSC started train operations by taking over the cargo division of Comboios de Portugal, and operates container trains over the Iberian peninsula.[13] Its rail operations have later expanded to Italy and beyond, under the name Medway.[14] In 2022, the company launched a cargo airline, MSC Air Cargo.[15] Mediterranean Shipping Company was founded in Naples in 1970 as a private company by seafaring captain Gianluigi Aponte when he bought his first ship, Patricia, followed by Rafaela, with which Aponte began a shipping line operating between the Mediterranean and Somalia. The line subsequently expanded through the purchase of second-hand cargo ships. By 1977, the company operated services to northern Europe, Africa and the Indian Ocean.[7] In 1978, the headquarters was established in Geneva, Switzerland.[16] The expansion continued through the 1980s; by the end of the decade, MSC operated ships to North America and Australia.[7] In 1988, MSC entered the cruise business by buying the liner Monterey.[12] In 1989, they purchased Lauro Lines. The new company was named StarLauro Cruises and had 2 ships, Monterey and Achille Lauro.[17] In 1994, the company ordered its first newly constructed ships, which were delivered beginning in 1996 with MSC Alexa. They were built by Italian shipbuilder, Fincantieri.[7] In 1995, StarLauro Cruises was renamed MSC Cruises.[17] In October 2014, Diego Aponte (son of MSC founder Gianluigi Aponte) was named president and chief executive of MSC, taking over from his father who was named group executive chairman. Gianluigi Aponte would continue to oversee all group related activities as well as supporting Diego in shaping the future of MSC.[18] In December 2014, the MSC shipping line were ranked number 6 in Lloyd's List of Top 100 Most Influential People in Shipping.[18] In January 2015, MSC launched the largest container ship, MSC Oscar, with a capacity of 19,224 TEU. Built by Daewoo Shipbuilding & Marine Engineering and registered in Panama, it joined the Albatross service in January as part of the 2M VSA (Vessel Sharing Agreement between Maersk Line and MSC).[19] In June 2015 Maersk and MSC signed a vessel-sharing agreement on the Asia-Europe, trans-Pacific and trans-Atlantic trades. The agreement is referred to as the 2M Alliance.[20] The 2M Alliance includes 185 vessels with an estimated capacity of 2.1 million TEU, deployed on 21 strings.[20][21] In February 2017, MSC purchased a 49% stake into Messina Line, an Italian shipping Line founded in Genoa, Italy in 1929, specialised in intra Mediterranean short sea, and Europe to East and West Africa routes. The company owns 8 Roll-on/roll-off vessels and a Terminal in Genoa port, on top of a container fleet of 65,000 teu.[22] In October 2018, MSC decided to charter out the only two car carriers in its fleet (MSC Immacolata and MSC Cristiana)[23] to Grimaldi Group,[24] replacing them on the service towards West Africa[25] with two Messina Line – ConRO vessels: MSC Cobalto (formerly Jolly Cobalto) and MSC Titanio (formerly Jolly Titanio).[26] The swap of these ships, that were previously deployed on MSC Adriatic Trade in between the ports of Trieste and İzmir,[27] results in view of a tighter collaboration between MSC and Messina Line.[28] In September 2020, MSC's subsidiary Marinvest completed the take over of 49 percent stake in Ignazio Messina and a 52 percent stake in Ro-Ro Italia, a new company that would control four of the Messina's roll-on/roll-off container vessels.[29] In December 2020, Søren Toft became MSC Chief Executive Officer.[11] Søren Toft is the first person outs

The story of the MSC Group began in Brussels in 1970, when captain Gianluigi Aponte founded the company with just a small cargo ship: the MV Patricia. The business has since grown and diversified to include a highly successful cruise line and passenger ferry services, as well as leading inland and port terminal infrastructure. Headquartered in Geneva, the Group remains privately owned and focused on caring for customers, employees and the environment. Ferry services from Italy to Sicily, Croatia and beyond. SNAV (Società Navigazione Alta Velocità) owns a fleet of high-speed modern vessels, including hydrofoils and catamarans. Committed to the highest standards of safety and customer care, the company's ferry services connect mainland Italy to Sicilia, Croatia and other popular destinations.

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he report also includes information on the line’s sister company and luxury travel brand, Explora Journeys, which launched EXPLORA I last year, the first of six vessels in its fleet. Also included are detailed data tables including operations, emissions, water, waste, headcount and gender distribution. We continue to work extensively with our close partners including the shipyards, technology providers, fuel providers and many others and I am pleased with the progress we as an industry are making. We continue to advocate to be regulated in a fair way, which does not discriminate against our industry • Fleet carbon intensity improved by 6.5 per cent compared to 2022, marking a 37.8 per cent reduction since 2008. The progress puts the line on track to achieve the IMO’s target of a 40 per cent carbon intensity reduction before its 2030 deadline. • Second liquified natural gas (LNG)-powered vessel launched, MSC Euribia, with a net zero greenhouse gas (GHG) emissions voyage from France to Denmark. MSC Cruises remains committed to LNG as a critical pathway towards maritime decarbonisation. Fossil LNG offers immediate GHG emission reductions compared to conventional marine fuels and a direct pathway to renewable alternatives like bio-LNG and synthetic renewable LNG. • Successful shore power connections numbered 44 for the line’s ships at eight ports in Norway, Germany, UK and Malta. Shore power plays an important role in MSC Cruise’s strategy to lower emissions as this allows its ships to plug into a port’s electrical grid at berth and shut down the vessel’s engines to eliminate direct emissions when in port. The 2024 year-end target is 220 connections and the line is fully committed to utilise shore power in every port where it is available. • Freshwater management produced 87.2 per cent of the fleet’s onboard water needs – more than 6.4 million cubic metres – through desalination. Using water more efficiently resulted in a reduction of onboard water consumption from 226 litres per guest day in 2022 to 187 litres in 2023, a reduction of 17.2 per cent. • Collaborated with nature intelligence and environmental DNA specialists NatureMetrics to analyse seawater samples from three vessels, identifying more than 4,000 different animal species using DNA identification techniques, with results being made available to the scientific community. The project has global reach with the data contributing to the eBioAtlas, a global programme by NatureMetrics and IUCN. The report also shows that in 2023 MSC Cruises’ fleet of 22 ships carried 4,081,393 guests, sailed 385 itineraries to 102 countries in the world and offered 2,150 shore excursions. Finally, the workforce totaled 49,874 representing 144 different nationalities with 18,866 new crew hires during the year. A new package of crew initiatives was introduced in 2023 with increased salaries, improved staff rotation and more training.

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MSC is committed to enabling resilient and sustainable supply chains, by catalysing the net-zero transition and contributing to an inclusive global trade system. That is the key message emerging from MSC’s 2022 Sustainability Report, published this week. MSC is one of the world’s leading maritime cargo businesses and, given that 90% of the world’s goods travel by sea, it is a key player in keeping the wheels of the global economy turning. By connecting local businesses and facilitating access to global markets, MSC has an important societal role to play supporting economic activity, a key driver of wellbeing of people and communities. MSC’s Cargo Division takes a holistic approach to sustainability, building on the fundamentals of business ethics, protecting our blue planet and ensuring a safe place to work while focusing on three strategic priorities: enabling the decarbonisation of logistics, fostering inclusive trade and addressing social challenges. MSC has set a clear goal of complete net decarbonisation by 2050, without relying on external offsetting. Its focus is on exploring all solutions to accelerate the global energy transition, while ensuring that MSC’s fleet is ready to adopt zero-carbon fuels as they become available. MSC continues investing in record-size, energy-efficient ships that mean lower CO2 emissions per container carried. 2022 saw MSC’s first LNG-powered ships entering service as a transition solution on its decarbonization pathway, and in 2023-26 it will welcome 95 new ships with the flexibility to operate using different fuels. The scaling up and widespread deployment of low- and zero-carbon fuels will be key in accelerating the transition to sustainable energy sources. MSC envisages a net zero future that will see shipping draw on a combination of fuels, and believes that bio and synthetic Liquefied Natural Gas (LNG), synthetic and bio-methanol and green ammonia may become fuel choices for larger ocean-going vessels. MSC is also working hard on energy efficiency measures to progressively reduce its carbon intensity, modernising its current fleet, continuously upgrading the company’s infrastructure assets while also improving vessel performance and optimising all voyages. Decarbonising shipping and logistics goes beyond fuels and technologies. MSC strongly believes that its people – including research, development and technical teams as well as the seafarers working onboard MSC ships – are what will make decarbonization possible, and is determined to ensure a just transition as it progresses along its journey to net zero. For this reason MSC continues its efforts engaging with others across the industry to support the training, upskilling and reskilling of its global workforce. In addition to mitigating its environmental impact, MSC is also very clear about the importance of responding to the challenges of an ever-evolving and complex global landscape. That is why MSC is actively working to help build resilient global supply chains that aim to anticipate and can withstand disruptions, keeping trade flowing and ensuring that people can access the essential goods they need to thrive. MSC’s focus remains on ensuring secure and reliable links to ports through intermodal solutions and logistics hubs to address today’s increasingly complex and fragmented supply chains. A crucial part of its sustainability approach involves supporting remote and vulnerable economies – who often face higher shipping costs due to their dependency on imported goods – by removing trade barriers and helping communities maintain the market connections on which they depend. The 2022 Sustainability Report shows how MSC’s Cargo Division is progressing along its sustainability journey. The shipping and logistics industry has a key role to play in accelerating the net-zero transition and creating connections towards a more resilient and sustainable world. Find out more about MSCs approach to sustainability.

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The global economy relies on transport and logistics to enable trade, generating growth and social prosperity. MSC is in a unique position to create value by connecting local communities, facilitating access to a global market and supporting customers through resilient and disruption-free supply chains. We foster inclusive trade by contributing to economic growth; building resilience across the global value chain; and developing local capacity and know-how.

One of shipping’s greatest secrets has been revealed. In bidding for Italian train operator Italo, Gianluigi Aponte’s Mediterranean Shipping Co (MSC), a cruise and container shipping giant, has inadvertently let slip its financial results, figures that were quickly shared by eagle-eyed journalists at Il Messaggero, one of Italy’s top newspapers. Privately held MSC, which controls the world’s largest containerline, never makes it financial results public. However, the figures were leaked when it made its successful recent bid for a 50% stake in Italian passenger rail operator Italo. The Geneva-based 53-year-old group made revenues last year of EUR86.4bn ($91.1bn), an EBITDA of EUR43.2bn, an EBIT of EUR35.7bn and a net profit of EUR36.2bn. This covers all of the group’s activities including liner, cruise, terminals, rail and air cargo. Putting the numbers in perspective, MSC made approximately three times as much in EBIT as online retailer Amazon last year. Or just as stunning, the group made a net profit of $104.6m per day all year long. According to the figures carried by Il Messaggero, the group has cash of EUR63bn and equity of EUR91bn. Medium-long term net debts stand at EUR26bn. Originally hailing from Naples, Aponte, now 83, founded MSC in 1970. His family is among the top 50 on the Forbes billionaires index. The Apontes are three times as wealthy as the second-placed family in the latest rich list compiled by local media in Switzerland. Liner shipping, in which MSC has a leading 19.5% global market share, made a collective record net income significantly north of $200bn last year, dwarfing profits made by the FANG quartet – namely tech giants Facebook, Amazon, Netflix and Google.

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It seems that MSC inadvertently disclosed its financial results when making a successful bid for 50% of profitable Italian passenger train operator Italo, and this was spotted and reported by a leading Italian daily Do you want to read the full article? By registering you will have: SUBSCRIBE or, if you are already a member Log In Having problems logging in? Call +31(0)10 280 1000 or send an email to customerdesk@worldcargonews.com.

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The Mediterranean Shipping Company (MSC) is believed to be the largest container shipping operator in the world and a major logistics service provider, yet remarkably little is known about the company. In particular the Geneva-registered company releases very little information on its finances. However, over the past couple of weeks some Italian media sources have begun to publish information on MSC Group’s results, possibly influenced by the company’s investment in Italian rail operations. The newspaper Il Messaggero in particular asserted that the holding company of MSC Group had, in the Financial Year 2022, revenues of €86.4bn (US$91bn) with Earnings Before Tax, Interest, Depreciation and Amortisation (EBITDA) at €43.2bn (US$45.4) and Earnings Before Interest and Tax (EBIT) of €35.7bn (US$39bn). Net profit was €36.2bn. The numbers also suggest that MSC Group is cash-rich, holding €63bn in cash and with an estimated capitalisation of €91bn. Debts are €26bn. MSC Group has seen a considerable increase in revenue and profits over the few years, with revenue in financial year 2020 being €29bn with an EBITDA of €6.8bn, whilst 2021 saw revenue at €69bn and EBITDA at €40bn. Of course, if accurate, the leap in revenues reflect the boom in the container market in 2021 and 2022. It is also important to remember that the MSC Group includes other large assets other than the container shipping business, notably the cruise liner business. However, the cruise liner business suffered badly in 2021 and most of 2022, so it is logical to suggest that the leap in profits and sales was driven by the container business. It is hard to know what to make of this information. It is likely to be accurate and possibly it originated from MSC Group itself as a means of communicating to the Italian public that the company that is investing in a major element of its rail system is sound and trustworthy. Of course, such numbers are hardly audited accounts and cannot be analysed in detail, yet they suggest a company that has seen a huge leap in value and that can now command enormous resources.

The Mediterranean Shipping Company (MSC) is believed to be the largest container shipping operator in the world and a major logistics service provider, yet remarkably little is known about the company. In particular the Geneva-registered company releases very little information on its finances. However, over the past couple of weeks some Italian media sources have begun to publish information on MSC Group’s results, possibly influenced by the company’s investment in Italian rail operations. The newspaper Il Messaggero in particular asserted that the holding company of MSC Group had, in the Financial Year 2022, revenues of €86.4bn (US$91bn) with Earnings Before Tax, Interest, Depreciation and Amortisation (EBITDA) at €43.2bn (US$45.4) and Earnings Before Interest and Tax (EBIT) of €35.7bn (US$39bn). Net profit was €36.2bn. The numbers also suggest that MSC Group is cash-rich, holding €63bn in cash and with an estimated capitalisation of €91bn. Debts are €26bn. MSC Group has seen a considerable increase in revenue and profits over the few years, with revenue in financial year 2020 being €29bn with an EBITDA of €6.8bn, whilst 2021 saw revenue at €69bn and EBITDA at €40bn. Of course, if accurate, the leap in revenues reflect the boom in the container market in 2021 and 2022. It is also important to remember that the MSC Group includes other large assets other than the container shipping business, notably the cruise liner business. However, the cruise liner business suffered badly in 2021 and most of 2022, so it is logical to suggest that the leap in profits and sales was driven by the container business. It is hard to know what to make of this information. It is likely to be accurate and possibly it originated from MSC Group itself as a means of communicating to the Italian public that the company that is investing in a major element of its rail system is sound and trustworthy. Of course, such numbers are hardly audited accounts and cannot be analysed in detail, yet they suggest a company that has seen a huge leap in value and that can now command enormous resources.

Mediterranean Shipping Company S.A, branded as MSC, is an international shipping line founded by Gianluigi Aponte in Italy in 1970. The company is owned by the Aponte family with its headquarters in Switzerland since 1978.[5] It is the world's largest container shipping company by both fleet size and cargo capacity,[6] controlling about 19.7 percent of the global container ship fleet.[7] As of November 2023, MSC operates over 790 container vessels with an intake capacity of 5,505,417 twenty-foot equivalent units (TEU).[8] MSC subsidiaries operate rail freight transport in Portugal and Spain, cruise ships, and cargo aircraft. MSC operates 524 offices in 155 countries with its headquarters in Geneva, Switzerland and has over 100,000 employees.[8] MSC's shipping line sails on more than 215 trade routes, calling at over 500 ports.[8] As of August 2023, it operates vessels with a capacity of up to 24,346 TEU, including the world's largest container ships such as MSC Turkiye and MSC Michel Cappellini.[9][10] The company is independent and wholly owned by the Aponte family under the leadership of Diego Aponte. Diego was appointed president and CEO by his father and company founder Gianluigi in October 2014.[7] In December 2020, Soren Toft became MSC Chief Executive Officer.[11] Since 1989, MSC has owned the holiday cruise division MSC Cruises.[12] In 2015, MSC started train operations by taking over the cargo division of Comboios de Portugal, and operates container trains over the Iberian peninsula.[13] Its rail operations have later expanded to Italy and beyond, under the name Medway.[14] In 2022, the company launched a cargo airline, MSC Air Cargo.[15] Mediterranean Shipping Company was founded in Naples in 1970 as a private company by seafaring captain Gianluigi Aponte when he bought his first ship, Patricia, followed by Rafaela, with which Aponte began a shipping line operating between the Mediterranean and Somalia. The line subsequently expanded through the purchase of second-hand cargo ships. By 1977, the company operated services to northern Europe, Africa and the Indian Ocean.[7] In 1978, the headquarters was established in Geneva, Switzerland.[16] The expansion continued through the 1980s; by the end of the decade, MSC operated ships to North America and Australia.[7] In 1988, MSC entered the cruise business by buying the liner Monterey.[12] In 1989, they purchased Lauro Lines. The new company was named StarLauro Cruises and had 2 ships, Monterey and Achille Lauro.[17] In 1994, the company ordered its first newly constructed ships, which were delivered beginning in 1996 with MSC Alexa. They were built by Italian shipbuilder, Fincantieri.[7] In 1995, StarLauro Cruises was renamed MSC Cruises.[17] In October 2014, Diego Aponte (son of MSC founder Gianluigi Aponte) was named president and chief executive of MSC, taking over from his father who was named group executive chairman. Gianluigi Aponte would continue to oversee all group related activities as well as supporting Diego in shaping the future of MSC.[18] In December 2014, the MSC shipping line were ranked number 6 in Lloyd's List of Top 100 Most Influential People in Shipping.[18] In January 2015, MSC launched the largest container ship, MSC Oscar, with a capacity of 19,224 TEU. Built by Daewoo Shipbuilding & Marine Engineering and registered in Panama, it joined the Albatross service in January as part of the 2M VSA (Vessel Sharing Agreement between Maersk Line and MSC).[19] In June 2015 Maersk and MSC signed a vessel-sharing agreement on the Asia-Europe, trans-Pacific and trans-Atlantic trades. The agreement is referred to as the 2M Alliance.[20] The 2M Alliance includes 185 vessels with an estimated capacity of 2.1 million TEU, deployed on 21 strings.[20][21] In February 2017, MSC purchased a 49% stake into Messina Line, an Italian shipping Line founded in Genoa, Italy in 1929, specialised in intra Mediterranean short sea, and Europe to East and West Africa routes. The company owns 8 Roll-on/roll-off vessels and a Terminal in Genoa port, on top of a container fleet of 65,000 teu.[22] In October 2018, MSC decided to charter out the only two car carriers in its fleet (MSC Immacolata and MSC Cristiana)[23] to Grimaldi Group,[24] replacing them on the service towards West Africa[25] with two Messina Line – ConRO vessels: MSC Cobalto (formerly Jolly Cobalto) and MSC Titanio (formerly Jolly Titanio).[26] The swap of these ships, that were previously deployed on MSC Adriatic Trade in between the ports of Trieste and İzmir,[27] results in view of a tighter collaboration between MSC and Messina Line.[28] In September 2020, MSC's subsidiary Marinvest completed the take over of 49 percent stake in Ignazio Messina and a 52 percent stake in Ro-Ro Italia, a new company that would control four of the Messina's roll-on/roll-off container vessels.[29] In December 2020, Søren Toft became MSC Chief Executive Officer.[11] Søren Toft is the first person outs

It’s one of shipping’s most closely held secrets, up there with Greeks and the dark fleet, the true meaning of EEDI, defining an eco-ship, the hourly wage of a Burmese deckhand, and the full extent of the web of shipping interests of the Ofer family. Just how much is Switzerland’s richest man worth? News that Gianluigi Aponte was one of the fastest-growing accumulators of wealth last year – as per a new billionaires survey carried by Forbes – was the most-read story on Splash yesterday. The founder of Mediterranean Shipping Co (MSC), a cruise giant as well as the world’s largest containerline, Aponte saw his net worth grow by $14.4bn in the 12-month period through to March 10, according to Forbes. The 82-year-old is placed in joint 43rd on the Forbes billionaires index with his wife, Rafaela, both with an estimated net worth of $31.2bn each. Originally hailing from Naples, the secretive Apontes, who keep the financial results of Geneva-based MSC private, are reportedly three times as wealthy as the second-placed family in the latest rich list compiled by local media in Switzerland. As to how much MSC actually made last year, analysts at Sea-Intelligence have run the numbers on the container side of the business for Splash. Liner shipping, in which MSC has a leading 18.2% global market share, made a collective record earnings before interest and taxes (EBIT) of $220bn last year, according to Sea-Intelligence estimates. “The major carriers that publish EBIT have a strongly correlated – r-squared of 90% – relationship between the size of their fleet and EBIT, and if we assume that this relationship also holds for MSC, then their 2022 EBIT would be around $36bn,” commented Alan Murphy, CEO of Sea-Intelligence. The $36bn figure does not cover MSC’s cruise business. Putting the number in perspective, MSC’s liner business made approximately three times as much in EBIT as online retailer Amazon last year. Moreover, despite plenty of doom and gloom headlines circling the liner industry in Q1, the billions could keep piling up for the Apontes this year. A usually reliable source of container financial forecasts has made a call on 2023 fortunes for the liner industry, suggesting this year could be the third-best combined annual results in the history of the sector. John McCown, whose Blue Alpha Capital quarterly liner profit reports have become essential reading during box shipping’s record earnings run since 2020, has forecast liner shipping will make a combined net income this year of $43.2bn on revenues of $327.bn. While this would mark an 80% drop over last year’s record profits, it would still prove to be another sensational year of earnings, helping to explain thew continued amassing of tonnage by carriers led by MSC in the first three months of 2023. The EBIT liner shipping made in the three years – 2020, 2021, and 2022 – are more than the combined profits of the previous 63-year history of container shipping, according to analysis by Sea-Intelligence.

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Gianluigi Aponte’s MSC Group has — perhaps inadvertently — revealed its financial performance for the first time. The holding company of the world’s largest liner company reportedly made €36.2bn ($38.4bn) in profits last year. The number has been widely published by Italian media outlets after MSC announced the purchase of around half of high-speed Italian train operator Italo. Turnover of the MSC Group was €86.4bn in 2022, according to Il Messaggero, which first reported the accounts. Ebitda was €43.2bn and Ebit was €35.7bn. The Geneva-based company possessed cash reserves amounted to €63bn and equity of €91bn. Medium to long-term debt is put at €26bn… The full story can be found here.

Reducing the environmental impact of transporting goods is one of the key ways we can reduce our overall impact on the planet’s health. In Europe, road transport currently accounts for over half of all tonne-kilometers, with maritime second at under a third, according to Eurostat data. There is, therefore, a significant opportunity to make changes that will have a positive impact, and one of the simplest is to increase the use of Short Sea Shipping routes. Short Sea Shipping is one of the EU’s chosen ways to meet its targets of cutting 60% of greenhouse gas emissions from transportation by 2050. It is motivating the increased use of SSS through investments in ports and port operations, as well as creating efficiencies with inland transportation and new technologies. And it is mandating the necessary changes through regulatory pressure. As a result, Short Sea Shipping is set to grow, and MSC is one of the leading providers in Europe with the widest network of ports and experts across the region. As an enabler of global supply chains, the shipping industry has a responsibility to act by reducing greenhouse gas emissions. At MSC we are committed to achieve net zero decarbonisation by 2050, working with our customers to achieve their own climate targets by adopting lower emission modes of transportation while meeting increasingly strict environmental regulations. Luca Russo, Senior Trade Manager, MSC said, “Shifting from road to sea can represent more sustainable solutions to reduce our customers’ carbon footprint. An example of how such intermodality fosters sustainable freight transport is Turkey to Germany. We can use short sea routes and our extensive rail network from Trieste to help reduce emissions and shorten transit times, only using trucks for the final mile.” Traditionally, Short Sea Shipping has been considered more complex than using road transport. However, MSC removes that complexity by providing a single point of contact and combining the different transport modes at our disposal to deliver energy efficient and on-time shipping. MSC has a dedicated team of experts in every country with a combination of in-depth sector experience and local knowledge. We understand how to create tailored door-to-door solutions that meet every customer’s specific needs, often with Short Sea Shipping being the main component of the route. In addition, MSC has continually invested in its inland transportation and logistics solutions to provide customers with a holistic approach for their cargo movement. Michela Fonda, Vice President, MSC said, “Short Sea Shipping is the perfect solution for transporting goods throughout Europe. All you need to do is talk to one of our experts and we will ensure your goods reach the right place at the right time, leveraging our global network to capitalise on energy efficiencies and ensure the most environmentally friendly routes. We may well end up using a combination of any or all of the transport solutions at our disposal including cargo ships, trains, barges and trucks. But you don’t have to worry about that because we’ll handle the integration seamlessly. Using MSC’s short sea shipping service is very simple.” Short Sea Shipping is highly flexible. We are able to control when the ships depart and arrive, we are not subject to the disruptions that can affect road transport, and there are very rarely any capacity issues for our Short Sea routes. It means we can ensure goods reach their destinations swiftly and sustainably, without compromising on efficiency or reliability. Carlos Espanol, Trade Manager, MSC said, “Ultimately, we have to change our mindsets to decarbonise supply chains. Making the necessary changes can provide some challenges. For example, there is a common misconception that Short Sea Shipping is slower than conventional transportation modes. However, once the initial planning is in place, the consistent flow of goods very quickly negates any schedule change and is actually more flexible in terms of peaks and troughs in cargo flow. It also means reduced costs, which is always an imperative for any business.” The MSC experts are ready to support your drive to reduce your costs and your environmental impact by using Short Sea Shipping as an integral part of your logistics supply chain. Find out more about how your supply chain can benefit from MSC's Short Sea solutions. Our spokespeople are responsible for the following trades:

The European Network of Corporate Observatories, of which Corporate Watch is a member, has released a new report: The Corporate Silk Road: A New Era of (e-)Infrastructure in Europe? It looks at the effects of infrastructure “mega-corridors” being built across Europe, and the impact of investments by the Chinese state and corporations in them. As part of this, we have profiled MSC, one of the world’s biggest shipping companies. You can read our profile below. Click here to read the full ENCO report. ENCO will be holding a webinar on the report on Wednesday 27 January, 4-5.30 pm. To attend, please register by email: contact(at)corpwatchers(dot)eu The Mediterranean Shipping Company (MSC) is one of the world’s biggest shipping companies. Its massive vessels transport containers full of goods across the globe, spewing out pollution as they go and making a fortune for its owners, the billionaire Aponte family. The expansion of ports and ‘mega-corridors’ are good news for them: more ports and more trade means more shipping. They also make money directly from their investments in the ports themselves. Following on from Re:Common’s report on the ‘New Silk Road in Italy’, we now look at MSC in detail, looking at the company’s operations, the people behind it and its devastating impact. MSC is most famous for its cruise ships. Its MSC Cruises division carries passengers – mostly Europeans – around the globe in its huge ships offering cinemas, Cirque du Soleil shows, water parks, mini-Legolands, and celebrity chefs and hairdressers. Football fans may also know MSC as a sponsor of the Sorrento, Napoli Chelsea or Paris Saint-Germain teams. Cruise ships are renowned for producing enormous quantities of pollution, in the form of NOx, sulphur dioxide, particulates, sewage and of course huge quantities of carbon dioxide. It has been estimated that one cruise ship emits as many air pollutants as five million cars going the same distance. However, the bulk of MSC’s money comes from the less glamorous world of container shipping. Global capitalism depends on shipping. Around 80% of world trade is carried on the seas and oceans. The majority goes by container ship. Food, car parts, stuff from Amazon – if you’re buying something that was made overseas, there’s a good chance it was brought on a container ship. And what ships. MSC’s biggest ship, the Gulsun, one of the largest in the world, is 400 meters long with 232,618 gross tonnage. The environmental impact of these vessels is colossal. NGO Transport & Environment reckons MSC is Europe’s eighth biggest corporate polluter with its ships emitting 11m tonnes of C02. MSC and Ryanair are the only companies in the top ten that aren’t running coal-fired power plants. Statistics of environmental impact from the sector are stunning. Shipping accounts for around 3% of global CO2 emissions, and its contribution is expected to rise significantly. Of total global air emissions, shipping accounts for 18 to 30 percent of the nitrogen oxide and 9% of the sulphur oxides. MSC ships have also been involved in specific environmental disasters. In 2010, for example, the MSC Chitra collided with another ship off the coast of Mumbai and spilled 700 tonnes of oil into the sea. Mangroves and marine life were “completely wiped out” in nearby areas, according to the Times of India. MSC then fought attempts to make it pay compensation in court. Containers can also fall from the ships. In the last two years, MSC ships have lost 270 containers in the North Sea and 20 containers off the coast of South Africa. After the North Sea spill the Dutch Coast Guard issued a warning that three containers contained hazardous, potentially explosive materials. The effect of the Cruise division is also severe. In 2019, the MSC Opera collided with a small tourist boat and damaged the quayside of Venice’s Guidecca Canal. Residents had long been calling for such ships to be banned due to the damage and flooding they were causing and protests after the MSC crash led to the government banning them from the centre of the city. Meanwhile, the COVID pandemic has highlighted treatment of workers, with management insisting some workers stay on board ships without pay. Shipping is dominated by a few very big companies. The top 10 control 84% of the market. Not only that, they have joined forces through three mega alliances. MSC is the second biggest container shipping company after the Danish company Maersk. Together, they have formed the 2M alliance, sharing ships and space on each other’s vessels, and working together to ensure they are not sailing more ships that are needed. The also cooperate with Korea’s Hyundai Merchant Marine Co and Israel’s ZIM Integrated Shipping Services on certain routes. This last point is crucial with the industry hit by the Covid-19 pandemic. After the financial crash of 2008, the major shipping companies competed with each other by investing in larger ships and dropping prices to attract b

Swiss-Italian Mediterranean Shipping Company (MSC) has joined coal plants and Ryanair on the EU's list of top 10 carbon emitters, according to official emissions data. The global container shipping operator responsible for about 11 million tonnes (Mt) of CO2 emissions in 2018, according to the European Federation for Transport and Environment, commonly referred to as Transport & Environment (T&E). The data shows that MSC would be the eighth biggest emitter in the bloc if shipping was part of the EU's emissions trading system. Ryanair was tenth on the list. The rest are all German coal plants except number one which is the Elektrownia Bełchatów plant in Poland. According to T&E: 'Ships sailing to and from Europe emitted more than 139 million tonnes of CO2 last year – meaning that if shipping were a country it would be the EU's 8th biggest emitter after the Netherlands. 'Shipping is the only sector with no measures to reduce its emissions in the bloc and yet it does not pay for its carbon pollution. 'Meanwhile, the maritime sector is exempt under EU law from paying tax on its fuel, an effective subsidy worth €24 billion a year.' On 7 December 2019, MSC announced that it had started to use biofuel in its vessels calling in Rotterdam, the Netherlands. Trials were completed using a minimal 10% blend fuel and following further trials the company is now using much higher 30% blends. Bud Darr, executive vice-president, Maritime Policy & Government Affairs, MSC Group said: 'We are pleased to see these trials completed successfully and look forward to now using biofuel on our vessels as a routine matter. 'When using such blended fuel, we can expect an estimated 15-20% reduction in absolute CO2 emissions. 'The potential CO2 reduction in the bio component of these fuels could reach 80-90%, which we will monitor and confirm over time.' Meanwhile, on 5 December MSC said it was 'committed in investing in its green and efficient fleet via the largest container shipping investment program in the industry. 'MSC operates a modern, green fleet and is investing heavily in low-carbon technologies and extensive new-build and retrofit programmes to boost performance and minimise our environmental impact.' T&E is a European umbrella for NGO's working in the field of transport and the environment, promoting sustainable transport in Europe. It currently has 60 national member and supporter organisations in 25 countries including the UK's Transform Scotland, the Environmental Transport Association and the Campaign for Better Transport. A copy of the full report can be found here The January Nautilus Telegraph has an interview with T&E's Dr Lucy Gilliam, read it online here

MSC operates one of the youngest fleets in the world. It represents a massive financial investment in modern, efficient and environmentally-friendly vessels. As our fleet grows and technology develops, we continuously engage with shipbuilders, design firms, classification societies and other stakeholders to ensure that our strategic investments are both environmentally and economically viable. Through investments in capacity management and economies of scale, we have managed to increase our average capacity per ship from 2,500 TEU in 2003 to 6,500 TEU in 2017, significantly higher than the average of the top 10 cargo carriers. Confirmed in Q3 2017, our order of pioneering new ships underlines our leading role in driving global standards of ship design and energy efficiency. Delivery of the 11 x 23,000 TEU container ships is scheduled for 2019 and 2020. These mega-ships will be propelled by ultra-efficient G-type engines and will include the latest energy-saving technologies in line with the IMO’s Energy Efficiency Design Index (EEDI) standards. In addition, the ground-breaking size of the new ships will significantly reduce emissions per amount of cargo carried. Over the last six years, we have been upgrading our fleet of owned and operated ships to the latest standards of safety and fuel efficiency. Since its launch in 2011, our retrofitting programme has considerably reduced carbon dioxide emissions. MSC has been investing in energy-saving technologies, including a specially designed bulbous bow, lighter and more efficient propellers, and new rudders designed to reduce drag. Hulls are treated with a silicon-based anti-fouling coating to minimize friction, the need for underwater cleaning and the risk of spread of invasive species. At the same time, our ship management centres are retrofitting our ships’ main propulsion engines to make them more efficient. MSC is advancing its commitment for cleaner seas by ensuring it is operating a modern fleet with minimized air emissions, including greenhouse gases. MSC fully supports uniform enforcement of the decision by the International Maritime Organization (IMO) relating to the 2020 global cap on fuel Sulphur content. This will reduce the Sulphur limit for marine fuel from the current 3.5% m/m to 0.5% m/m globally and to 0.1% m/m in designated Emission Control Areas (ECAs). We have invested heavily in exploring various strategies to comply with the 2020 Sulphur Cap. MSC’s technical teams have been working for years to research, analyze, review and propose various available options. Emissions vary from vessel to vessel and voyage to voyage, for reasons including operational factors, vessel load and waiting times in ports. To monitor the performance of individual ships and our fleet over time, among other measures, we use the Energy Efficiency Operational Indicator (EEOI) tool, as set out in the IMO Guideline MEPC.1/circ.684. Our EEOI analyses show that we have significantly reduced our carbon dioxide emissions per metric tonne of cargo moved on a per mile basis. Between 2016 and 2017, we reduced our EEOI from 15.55 to 14.80, and between 2015 and 2017 from 16.58 to 14.80 indicating an efficiency improvement of 11% To find out more, see pages 50-55 in the MSC 2018 Sustainability Report

Jacob Armstrong, shipping officer at T&E said: “For the third year running, the biggest shipping emitter has climbed the top 10 of Europe’s largest polluters. It’s emblematic of an industry that doesn’t pay a cent for its pollution. That a ship operator is overtaking coal plants shows that business as usual isn’t working. We need an EU carbon market that makes shipping pay for all its pollution.” The vast majority of the five biggest shipping companies’ pollution, ranging from 65% to 79%, was on voyages between European and non-European ports. Later this month the European Commission will announce whether companies should have to start buying pollution permits and using green fuels for these extra-European routes, which account for most of European shipping’s climate impact. Jacob Armstrong said: “Anything less than a carbon market covering extra-European voyages lets the biggest shipping companies off the hook and leaves smaller operators who sail mainly within Europe to pick up the tab. It would also forfeit ETS revenues that could be reinvested in greening the sector.” [1] In 2020, MSC emitted 10.9Mt of CO2 on all voyages departing or arriving at European ports – a slight decrease (3%) on 2019. However, this total is expected to rise as individual ships report their emissions late. [2] T&E analysed the 5th version of the 2020 MRV database accessible here:

Equipping Our Workforce For The Future MSC’s people are our greatest asset, the source of our strength and central to our success, and we recognise the importance of investing in human capital and preparing our people for the future. We are committed to equipping our people at sea and ashore with the tools, knowledge and confidence to capitalise on opportunities emerging throughout the energy transition and our industry's ongoing evolution, including digitalisation and automation. As our industry decarbonises, we have the responsibility to contribute to an equitable and just transition, including through the training, upskilling and reskilling of our global workforce. A healthy and safe workplace for our people is a top priority. Our focus is on building a culture of prevention across our business and supporting the wellbeing of our global workforce.

The global economy relies on transport and logistics to enable trade, generating growth and social prosperity. MSC is in a unique position to create value by connecting local communities, facilitating access to a global market and supporting customers through resilient and disruption-free supply chains. We foster inclusive trade by contributing to economic growth; building resilience across the global value chain; and developing local capacity and know-how.

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At MSC we pride ourselves on being a global container shipping company that delivers tailored solutions designed to meet the specific needs of each of our customers. Regardless of your cargo type, or final destination, we offer versatile solutions that cover air, land, and sea. Thanks to the extensive capacity of our container fleet, MSC is the trusted transportation partner and shipping company for numerous companies the world over. Combining this with our global port coverage and extensive equipment availability means, we are able to deliver a professional, efficient shipping service, tailored to the specific needs of your business.

Leading the way in terms of volume and mileage, of course, is sea cargo . According to the International Maritime Organisation, ocean transport accounts for around 90% of the world’s international cargo . There are numerous types of ocean transportation vessels available, including bulk carriers, RORO, and container vessels, ensuring that a variety of cargo and journeys are accounted for.The largest container vessels are able to carry around 24,000 TEUs, and with more and more traffic moving through the busy sea routes (especially Asia to the US and Asia to Europe), container shipping is the principal method of moving goods between continents. Some of the most important ocean transport lanes are through the Panama and Suez canals, the South and East China Seas, and the Strait of Malacca.For heavy loads like metals agricultural products , and automotive parts , there really is no better way to ship your cargo. Equally, foodstuffs and perishable produce can be kept refrigerated during long ocean journeys thanks to temperature-controlled reefer containers.Did you know ? MSC has one of the largest and most advanced reefer container fleets in the world.Once unloaded at the dockside, rail freight is one of the most sustainable and reliable ways to move goods over land.Trains have a significantly greater carrying capacity than trucks, making them a fantastic option to move large volumes of cargo quickly and efficiently. There are several different types of freight trains including boxcars, which takes containers straight from ships at container port hubs like Felixstowe and Southampton.Most goods, whatever they are, will probably end up on a lorry. Road transportation is usually the best way for freight to go on its ‘last mile’ and can often be quicker than other inland transportation methods.Using road freight transportation methods also offers more flexibility to businesses, as they can quickly re-route or adapt to different circumstances. Equally, as trucks are also easier to track, this can help with overall supply chain management. Flying goods has become an increasingly popular method of shipping, and very useful for cargo that must hit a tight delivery deadline.The most common types of cargo carried by plane include livestock, vehicles, oversized cargo, consumer electronics, and general retail goods. Sensitive commodities like flowers and pharmaceutical products can also be flown.Cargo plane fleets contain a variety of different aircraft, including the Boeing 747-400 ERF, Boeing 777-200F, Antonov 225 Mriya, and the Airbus 320. The Antonov 225 Mriya is the world’s largest cargo plane, able to hold 250 tonnes – that’s 80 vehicles or an entire train!

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Maersk, which is the world’s second-largest container line and has a growing logistics business, is receiving a relatively high grade and ranking in new large benchmark analysis of 90 global transportation companies’ sustainability efforts. Maersk lands an overall position as number five out of 90 companies, which include world-leading container carriers, logistics groups and airliners. This is evident from ”2022 Climate and Energy Benchmark on the Transport Sector,” which the World Benchmarking Alliance (WBA) and non-profit organization CDP have conducted and made public on Tuesday. But even though Maersk is praised and receives high ratings on different parameters for having ambitious goals of reducing carbon emissions and for investing in low-emission fuels and in green vessels, the analysis is also critical. ”However, [Maersk] does not have a robust transition plan that describes how it will reach its goal of net zero across its business and supply chain by 2040,” reads the analysis. Maersk has a target of halving Scope 1 emissions in 2030 compared to 2020 and aims for net-zero emissions across business and supply chains in 2040 in accordance with the so-called Science Based Targets initiative criteria (SBTi). Maersk has a fleet of more than 700 container ships, which are owned or chartered, and these are ships using conventional fossil fuels as of today. Even though Maersk also has a growing logistics business, owns and operates container terminals, 95 percent of Maersk’s carbon emissions are coming from ocean-going box vessels, according to the analysis. ”[Maersk] faces a significant challenge to replace its fleet with low-carbon alternatives in the next 18 years.” In the analysis’ so-called Assessing low-Carbon Transition (ACT), Maersk achieves 26.4 out of 60. The benchmark analysis of the 90 companies is ranking companies – also those promoting themselves as green and climate friendly – quite differently. Privately owned, Swiss-Italian carrier MSC, which in the beginning of the year surpassed Maersk as the world’s largest container line, is down at number 46 out of 90. The ACT score of 17.1 is markedly below Maersk’s of 26.4. MSC, which manages a fleet of 658 ships, has a goal of reducing carbon intensity by 40 percent in 2030 compared to 2008 and of achieving ”net decarbonization” in 2050, according to the analysis. ”The targets include an unspecified quantity of insets. The company’s fleet emissions intensity decreased between 2015 and 2020 but not at the rate required by its 1.5°C pathway. In 2021 MSC’s emissions intensity increased due to operational changes,” adds the analysis. ”The company has developed a decarbonization plan, however, it does not include any financial commitments toward decarbonization.” Other container liners included in the benchmark analysis are placed as follow: Hapag-Lloyd (25), Wan Hai Lines (34), Evergreen (41), CMA CGM (50), ONE (56), Yang Ming (62), Zim (47) and Cosco Shipping (82). Danish company DSV, which is the world’s third-largest logistics group, and which provides road, railway, air and ocean transport services without owning capital-heavy assets, is ranked as number 23, receiving an ACT score of 22.9. Even though DSV is following science-based targets, the company’s actual decarbonization target is only short-term, according to the analysis. ”The company has not committed to a net-zero target and its 2030 reduction targets do not cover the expected average lifetime of its subcontracted fleet.”

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2-2: Entitäten, die in der Nachhaltigkeitsberichterstattung der Organisation berücksichtigt werden 2-8: Mitarbeiter:innen, die keine Angestellten sind 2-12: Rolle des höchsten Kontrollorgans bei der Beaufsichtigung der Bewältigung der Auswirkungen 2-13: Delegation der Verantwortung für das Management der Auswirkungen 2-14: Rolle des höchsten Kontrollorgans bei der Nachhaltigkeitsberichterstattung Interaktion mit unseren Stakeholdern zur Förderung des Fortschritts 2-24: Einbeziehung der Verpflichtungserklärungen zu Grundsätzen und Handlungsweisen 2-26: Verfahren für die Einholung von Ratschlägen und die Meldung von Anliegen 2-29: Ansatz für die Einbindung von Stakeholdern Interaktion mit unseren Stakeholdern zur Förderung des Fortschritts

Jacob Armstrong, shipping officer at T&E said: “For the third year running, the biggest shipping emitter has climbed the top 10 of Europe’s largest polluters. It’s emblematic of an industry that doesn’t pay a cent for its pollution. That a ship operator is overtaking coal plants shows that business as usual isn’t working. We need an EU carbon market that makes shipping pay for all its pollution.” The vast majority of the five biggest shipping companies’ pollution, ranging from 65% to 79%, was on voyages between European and non-European ports. Later this month the European Commission will announce whether companies should have to start buying pollution permits and using green fuels for these extra-European routes, which account for most of European shipping’s climate impact. Jacob Armstrong said: “Anything less than a carbon market covering extra-European voyages lets the biggest shipping companies off the hook and leaves smaller operators who sail mainly within Europe to pick up the tab. It would also forfeit ETS revenues that could be reinvested in greening the sector.” [1] In 2020, MSC emitted 10.9Mt of CO2 on all voyages departing or arriving at European ports – a slight decrease (3%) on 2019. However, this total is expected to rise as individual ships report their emissions late. [2] T&E analysed the 5th version of the 2020 MRV database accessible here:

The Mediterranean Shipping Company (MSC) is believed to be the largest container shipping operator in the world and a major logistics service provider, yet remarkably little is known about the company. In particular the Geneva-registered company releases very little information on its finances. However, over the past couple of weeks some Italian media sources have begun to publish information on MSC Group’s results, possibly influenced by the company’s investment in Italian rail operations. The newspaper Il Messaggero in particular asserted that the holding company of MSC Group had, in the Financial Year 2022, revenues of €86.4bn (US$91bn) with Earnings Before Tax, Interest, Depreciation and Amortisation (EBITDA) at €43.2bn (US$45.4) and Earnings Before Interest and Tax (EBIT) of €35.7bn (US$39bn). Net profit was €36.2bn. The numbers also suggest that MSC Group is cash-rich, holding €63bn in cash and with an estimated capitalisation of €91bn. Debts are €26bn. MSC Group has seen a considerable increase in revenue and profits over the few years, with revenue in financial year 2020 being €29bn with an EBITDA of €6.8bn, whilst 2021 saw revenue at €69bn and EBITDA at €40bn. Of course, if accurate, the leap in revenues reflect the boom in the container market in 2021 and 2022. It is also important to remember that the MSC Group includes other large assets other than the container shipping business, notably the cruise liner business. However, the cruise liner business suffered badly in 2021 and most of 2022, so it is logical to suggest that the leap in profits and sales was driven by the container business. It is hard to know what to make of this information. It is likely to be accurate and possibly it originated from MSC Group itself as a means of communicating to the Italian public that the company that is investing in a major element of its rail system is sound and trustworthy. Of course, such numbers are hardly audited accounts and cannot be analysed in detail, yet they suggest a company that has seen a huge leap in value and that can now command enormous resources.

It’s one of shipping’s most closely held secrets, up there with Greeks and the dark fleet, the true meaning of EEDI, defining an eco-ship, the hourly wage of a Burmese deckhand, and the full extent of the web of shipping interests of the Ofer family. Just how much is Switzerland’s richest man worth? News that Gianluigi Aponte was one of the fastest-growing accumulators of wealth last year – as per a new billionaires survey carried by Forbes – was the most-read story on Splash yesterday. The founder of Mediterranean Shipping Co (MSC), a cruise giant as well as the world’s largest containerline, Aponte saw his net worth grow by $14.4bn in the 12-month period through to March 10, according to Forbes. The 82-year-old is placed in joint 43rd on the Forbes billionaires index with his wife, Rafaela, both with an estimated net worth of $31.2bn each. Originally hailing from Naples, the secretive Apontes, who keep the financial results of Geneva-based MSC private, are reportedly three times as wealthy as the second-placed family in the latest rich list compiled by local media in Switzerland. As to how much MSC actually made last year, analysts at Sea-Intelligence have run the numbers on the container side of the business for Splash. Liner shipping, in which MSC has a leading 18.2% global market share, made a collective record earnings before interest and taxes (EBIT) of $220bn last year, according to Sea-Intelligence estimates. “The major carriers that publish EBIT have a strongly correlated – r-squared of 90% – relationship between the size of their fleet and EBIT, and if we assume that this relationship also holds for MSC, then their 2022 EBIT would be around $36bn,” commented Alan Murphy, CEO of Sea-Intelligence. The $36bn figure does not cover MSC’s cruise business. Putting the number in perspective, MSC’s liner business made approximately three times as much in EBIT as online retailer Amazon last year. Moreover, despite plenty of doom and gloom headlines circling the liner industry in Q1, the billions could keep piling up for the Apontes this year. A usually reliable source of container financial forecasts has made a call on 2023 fortunes for the liner industry, suggesting this year could be the third-best combined annual results in the history of the sector. John McCown, whose Blue Alpha Capital quarterly liner profit reports have become essential reading during box shipping’s record earnings run since 2020, has forecast liner shipping will make a combined net income this year of $43.2bn on revenues of $327.bn. While this would mark an 80% drop over last year’s record profits, it would still prove to be another sensational year of earnings, helping to explain thew continued amassing of tonnage by carriers led by MSC in the first three months of 2023. The EBIT liner shipping made in the three years – 2020, 2021, and 2022 – are more than the combined profits of the previous 63-year history of container shipping, according to analysis by Sea-Intelligence.

Mediterranean Shipping Company S.A, branded as MSC, is an international shipping line founded by Gianluigi Aponte in Italy in 1970. The company is owned by the Aponte family with its headquarters in Switzerland since 1978.[5] It is the world's largest container shipping company by both fleet size and cargo capacity,[6] controlling about 19.7 percent of the global container ship fleet.[7] As of November 2023, MSC operates over 790 container vessels with an intake capacity of 5,505,417 twenty-foot equivalent units (TEU).[8] MSC subsidiaries operate rail freight transport in Portugal and Spain, cruise ships, and cargo aircraft. MSC operates 524 offices in 155 countries with its headquarters in Geneva, Switzerland and has over 100,000 employees.[8] MSC's shipping line sails on more than 215 trade routes, calling at over 500 ports.[8] As of August 2023, it operates vessels with a capacity of up to 24,346 TEU, including the world's largest container ships such as MSC Turkiye and MSC Michel Cappellini.[9][10] The company is independent and wholly owned by the Aponte family under the leadership of Diego Aponte. Diego was appointed president and CEO by his father and company founder Gianluigi in October 2014.[7] In December 2020, Soren Toft became MSC Chief Executive Officer.[11] Since 1989, MSC has owned the holiday cruise division MSC Cruises.[12] In 2015, MSC started train operations by taking over the cargo division of Comboios de Portugal, and operates container trains over the Iberian peninsula.[13] Its rail operations have later expanded to Italy and beyond, under the name Medway.[14] In 2022, the company launched a cargo airline, MSC Air Cargo.[15] Mediterranean Shipping Company was founded in Naples in 1970 as a private company by seafaring captain Gianluigi Aponte when he bought his first ship, Patricia, followed by Rafaela, with which Aponte began a shipping line operating between the Mediterranean and Somalia. The line subsequently expanded through the purchase of second-hand cargo ships. By 1977, the company operated services to northern Europe, Africa and the Indian Ocean.[7] In 1978, the headquarters was established in Geneva, Switzerland.[16] The expansion continued through the 1980s; by the end of the decade, MSC operated ships to North America and Australia.[7] In 1988, MSC entered the cruise business by buying the liner Monterey.[12] In 1989, they purchased Lauro Lines. The new company was named StarLauro Cruises and had 2 ships, Monterey and Achille Lauro.[17] In 1994, the company ordered its first newly constructed ships, which were delivered beginning in 1996 with MSC Alexa. They were built by Italian shipbuilder, Fincantieri.[7] In 1995, StarLauro Cruises was renamed MSC Cruises.[17] In October 2014, Diego Aponte (son of MSC founder Gianluigi Aponte) was named president and chief executive of MSC, taking over from his father who was named group executive chairman. Gianluigi Aponte would continue to oversee all group related activities as well as supporting Diego in shaping the future of MSC.[18] In December 2014, the MSC shipping line were ranked number 6 in Lloyd's List of Top 100 Most Influential People in Shipping.[18] In January 2015, MSC launched the largest container ship, MSC Oscar, with a capacity of 19,224 TEU. Built by Daewoo Shipbuilding & Marine Engineering and registered in Panama, it joined the Albatross service in January as part of the 2M VSA (Vessel Sharing Agreement between Maersk Line and MSC).[19] In June 2015 Maersk and MSC signed a vessel-sharing agreement on the Asia-Europe, trans-Pacific and trans-Atlantic trades. The agreement is referred to as the 2M Alliance.[20] The 2M Alliance includes 185 vessels with an estimated capacity of 2.1 million TEU, deployed on 21 strings.[20][21] In February 2017, MSC purchased a 49% stake into Messina Line, an Italian shipping Line founded in Genoa, Italy in 1929, specialised in intra Mediterranean short sea, and Europe to East and West Africa routes. The company owns 8 Roll-on/roll-off vessels and a Terminal in Genoa port, on top of a container fleet of 65,000 teu.[22] In October 2018, MSC decided to charter out the only two car carriers in its fleet (MSC Immacolata and MSC Cristiana)[23] to Grimaldi Group,[24] replacing them on the service towards West Africa[25] with two Messina Line – ConRO vessels: MSC Cobalto (formerly Jolly Cobalto) and MSC Titanio (formerly Jolly Titanio).[26] The swap of these ships, that were previously deployed on MSC Adriatic Trade in between the ports of Trieste and İzmir,[27] results in view of a tighter collaboration between MSC and Messina Line.[28] In September 2020, MSC's subsidiary Marinvest completed the take over of 49 percent stake in Ignazio Messina and a 52 percent stake in Ro-Ro Italia, a new company that would control four of the Messina's roll-on/roll-off container vessels.[29] In December 2020, Søren Toft became MSC Chief Executive Officer.[11] Søren Toft is the first person outs

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One of shipping’s greatest secrets has been revealed. In bidding for Italian train operator Italo, Gianluigi Aponte’s Mediterranean Shipping Co (MSC), a cruise and container shipping giant, has inadvertently let slip its financial results, figures that were quickly shared by eagle-eyed journalists at Il Messaggero, one of Italy’s top newspapers. Privately held MSC, which controls the world’s largest containerline, never makes it financial results public. However, the figures were leaked when it made its successful recent bid for a 50% stake in Italian passenger rail operator Italo. The Geneva-based 53-year-old group made revenues last year of EUR86.4bn ($91.1bn), an EBITDA of EUR43.2bn, an EBIT of EUR35.7bn and a net profit of EUR36.2bn. This covers all of the group’s activities including liner, cruise, terminals, rail and air cargo. Putting the numbers in perspective, MSC made approximately three times as much in EBIT as online retailer Amazon last year. Or just as stunning, the group made a net profit of $104.6m per day all year long. According to the figures carried by Il Messaggero, the group has cash of EUR63bn and equity of EUR91bn. Medium-long term net debts stand at EUR26bn. Originally hailing from Naples, Aponte, now 83, founded MSC in 1970. His family is among the top 50 on the Forbes billionaires index. The Apontes are three times as wealthy as the second-placed family in the latest rich list compiled by local media in Switzerland. Liner shipping, in which MSC has a leading 19.5% global market share, made a collective record net income significantly north of $200bn last year, dwarfing profits made by the FANG quartet – namely tech giants Facebook, Amazon, Netflix and Google.