Container shipping developments reported throughout April 2026, as covered in Alphaliner’s Weekly Newsletter, highlighted a market shaped by shifting trade lane dynamics, evolving fleet ownership structures, and changing operational behavior in response to cost pressures.
Across the month, carriers expanded capacity on secondary routes, Non-Operating Owners continued to lose ground at a slower pace, regional operators outperformed the largest global lines, and bunker price increases triggered measurable changes in vessel speeds.
Far East–Oceania Trade Saw Strong Capacity Expansion
One of the most notable developments reported in April was the significant expansion of capacity on the Far East–Oceania trade.
Total deployed capacity on the route increased by approximately 84,000 TEU, or 12 percent year-on-year, reaching more than 811,000 TEU by mid-March 2026. This growth rate was roughly double that of the global container fleet over the same period.
MSC Mediterranean Shipping Company recorded the largest increase, both in absolute and relative terms, adding nearly 30,000 TEU, representing a 40 percent expansion. This growth was driven primarily by the launch of new services and network extensions, including the China–Australia “Kangaroo” service and the expansion of the “Koala” loop.
CMA CGM followed with the second-largest increase, adding 23,000 TEU, which enabled it to overtake Maersk and move into second place on the route.
Meanwhile, COSCO retained its leading position, maintaining more than 182,000 TEU of deployed capacity, supported by incremental additions to its existing network.
Decline of Non-Operating Owners Slowed but Continued
Another key trend reported in April was the continued contraction of the fleet controlled by Non-Operating Owners (NOOs), although at a slower pace than in previous years.
Over the twelve months to March 2026, NOOs reduced their fleet by approximately 250,000 TEU, adding to a cumulative decline of 2.3 million TEU since late 2020.
This contraction was primarily driven by continued acquisitions by liner operators. In total, 130 vessels representing around 380,000 TEU were sold from NOOs to end users during the period.
MSC remained the dominant buyer, acquiring 65 vessels totaling 230,000 TEU over the past year alone. Since 2020, the carrier has purchased more than 400 vessels from NOOs, representing roughly 1.6 million TEU.
While NOOs did receive some replenishment through newbuilding deliveries and limited purchases, these were insufficient to offset the continued outflow of tonnage. However, the pace of decline has slowed compared to earlier years, indicating a potential stabilization of the segment.
Regional Carriers Outperformed Global Lines in Profitability
Financial results reported in April highlighted a clear divergence between mid-tier regional carriers and the largest global operators.
While the top-10 container carriers recorded significant year-on-year declines in profitability during 2025, with drops ranging from 34 percent to 88 percent, smaller operators focusing on regional trades performed notably better.
Carriers such as SITC, Samudera Shipping Line, and Zhonggu Logistics reported strong profit growth, supported by robust demand in intra-Asia and China-related trades.
SITC, for example, recorded a net profit of USD 1.2 billion, representing a 20 percent year-on-year increase, while expanding its fleet by more than 15 percent.
Other regional operators, including NBOSCO and Antong Shipping, also reported double-digit profit growth, reflecting the strength of regional markets and tighter tonnage conditions.
Reefer Capacity Continued to Expand Among Major Carriers
Another important development reported throughout April was the continued expansion of reefer capacity among the world’s largest container carriers.
The top-10 operators jointly increased their reefer plug capacity by 7.9 percent year-on-year, reflecting continued investment in temperature-controlled cargo transportation.
MSC recorded the largest nominal increase, adding nearly 100,000 reefer plugs, equivalent to 15.3 percent growth compared to April 2025. This expansion slightly outpaced the carrier’s already strong overall fleet growth.
ONE (Ocean Network Express) also stood out, increasing reefer capacity by 14.5 percent year-on-year, significantly above its broader fleet expansion rate. Much of this growth stemmed from the delivery of nine new 13,900 TEU vessels featuring high reefer specifications, several of which were deployed on Asia–Latin America services.
The latest figures also highlighted clear strategic differences between carriers. European operators such as Maersk and CMA CGM continued to maintain proportionally larger reefer capacity shares than many Asian competitors, underlining their stronger focus on temperature-controlled cargo segments.
Rising Bunker Prices Triggered Slower Vessel Speeds
Operational behavior across the global fleet also shifted in response to rising fuel costs.
Between late 2025 and mid-April 2026, the average speed of container vessels declined by 2.3 percent, falling from 15.58 knots to approximately 15.18 knots, the lowest level recorded since March 2023.
This deceleration closely followed a sharp increase in bunker prices, with VLSFO reaching over USD 1,200 per tonne and LSMGO exceeding USD 2,000 per tonne in Singapore.
However, the impact was not uniform across all trade lanes.
- North–South trades recorded the largest speed reductions, with declines of 3.6 percent on routes such as Far East–South America and Far East–Australia/New Zealand
- Transpacific and transatlantic trades also reduced speeds, though to a lesser extent
- Longer routes allowed carriers to absorb slower steaming without significantly disrupting service schedules
This divergence reflects how operational flexibility varies across trade lanes depending on voyage length and network
Key Takeaways
- Capacity on the Far East–Oceania trade expanded significantly, outpacing global fleet growth
- The decline of Non-Operating Owners continued but slowed compared to previous years
- Regional carriers outperformed major global lines in profitability during 2025
- Reefer capacity continued to expand, with MSC and ONE recording the strongest year-on-year growth among major carriers
- Rising bunker prices led to measurable reductions in vessel speeds across multiple trades
Stay On Top Of All Market News
The container shipping news reported in Alphaliner’s Weekly Newsletter throughout April 2026 highlighted a market adapting to a combination of structural shifts and cost pressures.
These developments underline the increasing complexity of the container shipping market, where fleet strategy, regional demand patterns, and cost management all play a critical role in shaping industry dynamics.
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