Join our crew and become one of the 106,521 members that receive our newsletter.

ZIM Overtakes Yang Ming in Liner Rankings

Photo courtesy ZIM

ZIM Overtakes Yang Ming in Liner Rankings

Mike Schuler
Total Views: 1495
April 10, 2024

A substantial newbuilding program along with recent vessel deliveries has propelled Israeli-based ZIM ahead of Taiwan’s Yang Ming in the liner rankings, according to Alphaliner.

ZIM’s fleet capacity now stands at 707,332 TEU, placing it in ninth place in Alphaliner’s rankings of the world’s largest container shipping lines.

Alphaliner notes the difference in fleet capacities between the two carriers was a mere 314 TEU as of April 9, 2024. Meanwhile, ZIM’s fleet consists of 131 ships, compared to Yang Ming’s 94.

Alphaliner’s report noted the significant differences in the composition of the two fleets. ZIM charters 95% of its capacity, accounting for 122 ships, while Yang Ming maintains a balance between chartered vessels (59%, 38 ships) and owned ships (41%, 56 ships).

What sets the two carriers apart is Yang Ming’s restraint in recent years compared to ZIM’s aggressive fleet expansion. ZIM has doubled its capacity over the last three years, from 271,000 TEU in April 2020 to now over 700,000 TEU.

Alphaliner says ZIM’s newbuilding program includes a variety of LNG-powered vessels chartered in from Seaspan, Navios, and MPC. The program also features newbuildings from Seaspan and RCL.

Alphaliner notes that ZIM is negotiating a “tricky ‘transition period'” as its fleet renewal program, which has boosted its rankings, is the same program the company hopes will transform its finances. The company is wagering that its new ships, 28 of which are LNG-powered, will attract environmentally conscious customers and, importantly, reduce unit costs.

However, until 2025, ZIM faces high unit costs due to chartered ships secured at pandemic-era rates.

ZIM has 30 ships up for redelivery this year and another 37 in 2025.

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up
Back to Main
polygon icon polygon icon

Why Join the gCaptain Club?

Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.

Sign Up
close

JOIN OUR CREW

Maritime and offshore news trusted by our 106,521 members delivered daily straight to your inbox.

gCaptain’s full coverage of the maritime shipping industry, including containerships, tankers, dry bulk, LNG, breakbulk and more.