X-Press increases lead as world’s largest feeder operator

Monday, 28 October 2024 03:38 - - {{hitsCtrl.values.hits}}

X-Press Feeders has widened the gap on its main rival Unifeeder as the world’s largest common feeder operator.

The Singapore-headquartered X-Press (ranked 13th in the Alphaliner Top 100) has expanded its fleet by an impressive 21.8%, or 35,000 TEUs, since October 2023. By comparison, the global liner fleet grew by 11% in the same period.

Unifeeder (ranked 17th) has increased its fleet capacity by 23,000 TEUs, which represents a growth rate of 18%.

Both carriers are benefitting from the Red Sea crisis which has forced most mainline operators (MLOs) to avoid the Suez Canal and instead call on third party feeder operators. This has resulted in an upswing in shortsea traffic, on trades such as the Middle East and Indian Subcontinent trade for X-Press and Intra-Mediterranean traffic for Unimed Feeder Services, the Intra-Med affiliate of Unifeeder.

Unifeeder is an asset-light operator relying fully on the charter market for its tonnage needs.

In contrast, the proportion of owned ships in X-Press Feeder’s fleet currently stands at 59%, down from 62% in October 2023.

Furthermore, the order book of ship owner Sea Consortium and its liner branch X-Press Feeders stands at 77,000 TEUs, representing 40% of its existing fleet. This includes X-Press’ six new 11,000 TEU container vessels which will come on stream in 2027 and 2028, becoming by far its largest vessels.

Sea Consortium and X-Press are among the champions of methanol-powered ships and have already received seven ‘green’ 1,770 TEU vessels.