The 2024 Global Ranking of Container Terminal Operators Has Been Released.

According to Drewry’s “Annual Review and Forecast of Global Container Terminal Operators (2025/26),” the top ten global container terminal operators in terms of equity throughput in 2024 are PSA International, China Merchants Port, COSCO SHIPPING Ports, APMT (Maersk Terminals), Hutchison Ports, MSC (Mediterranean Shipping Company), DP World (Dubai World), CMA CGM, ICTSI (International Container Terminal Services), and Yildirim.

In 2024, a total of 19 operators were listed as global container terminal operators. Mitsui O.S.K. Lines, Nippon Yusen Kaisha, and Yang Ming Marine Transport withdrew from the list, while ONE made its debut. (Only operators that run terminals in more than one region are classified by Drewry as global terminal operators; therefore, even though Shanghai International Port Group operates the world’s largest container port, it is counted only as a regional operator.) In recent years, ONE has acquired terminal assets from three shareholder shipping companies, which led to its inclusion on the list, while Mitsui O.S.K. Lines and Nippon Yusen Kaisha accordingly withdrew.

In 2024, global container port throughput grew strongly by 7.2%, and major operators also achieved impressive results.

Based on throughput volume calculated by equity, PSA International handled 67.3 million TEU last year, maintaining its leading position. Both its domestic and overseas terminals saw substantial growth in throughput. In 2024, the Port of Singapore was affected by the Red Sea crisis, resulting in a concentrated influx of ships and severe congestion. PSA International responded swiftly by activating older Berths and opening the Tuas New Berth ahead of schedule to ease the congestion, enabling its throughput to surpass 40 million TEU in 2024. Overseas, its throughput in the Middle East, South Asia, and the Americas grew by 16.9% and 15.8%, respectively, with emerging markets showing particularly strong growth.

In recent years, PSA International has been planning expansions across various regions worldwide. It has expansion plans for terminals at ports including Jakarta in Indonesia, Nava Sheva in India, Dammam in Saudi Arabia, Mersin in Turkey, Dammam in Saudi Arabia again, and Buenaventura in Colombia. One shortcoming is that PSA International’s operating profit margin is relatively lower compared to other international port operators, and it has been on a downward trend in recent years.

China’s two major state-owned central enterprises, operators of port infrastructure, rank second and third, respectively. Due to the tightening international investment environment, Chinese port operators have faced restrictions on going overseas, leading them to slow down their overseas investments in recent years. Nevertheless, domestic port throughput has continued to grow rapidly, still boosting the equity throughput growth of these two major operators. In August of this year, COSCO SHIPPING Ports stated that it had come under considerable pressure during many bidding processes for both mature and emerging terminal sites, as the industry has become increasingly competitive. Terminal operators have been aggressively expanding their investments abroad, resulting in higher bid prices. Going forward, COSCO SHIPPING Ports plans to focus its overseas investment projects on emerging markets such as Southeast Asia, South America, and the Middle East. However, in the Hutchison Port Holdings deal, COSCO SHIPPING Ports may have an opportunity to secure a share of the pie.

For European and American companies such as Maersk Terminal, competition in the terminal market is also intensifying. Last year, Maersk Terminal became embroiled in several legal disputes, including a lawsuit against South African port operator Transnet, alleging improper conduct during the bidding process for Terminal 2 at the Port of Durban, and a lawsuit against the Port of Aarhus, because MSC’s planned construction of a new container terminal at that port threatened its monopoly position. This year, Maersk Terminal has again appealed to a Brazilian court, arguing that the tender for the new terminal at the Port of Santos included restrictive conditions prohibiting foreign operators already operating at the Port of Santos from bidding.

From 2019 to 2024, the growth in throughput volume of equity interests held by the world’s top 10 container terminal operators. The blue bars represent 2019, and the brown bars represent 2024.

Maersk’s willingness to expand its terminal operations reflects its hub-port strategy and underscores the appetite of liner shipping companies for the terminal market. Liner shipping companies with robust cash flows are channeling part of their profits into terminal operations, enabling them to gain control over key gateways and keep terminal-related expenditures in-house. The terminal businesses of MSC, CMA CGM, and Hapag-Lloyd have expanded significantly; Hapag-Lloyd has even established an independent terminal company. Since 2019, MSC and CMA CGM have seen their equity throughput volumes cumulatively increase by 14.1 million TEUs and 4.6 million TEUs, respectively—a growth of 47% and 55%. Their expansion has largely been driven by major mergers and acquisitions: MSC acquired Bolloré Africa and a minority stake in HHLA, while CMA CGM acquired the FMS Terminal at the Port of Los Angeles and two terminals at the Port of New York and New Jersey.

Currently, MSC is also planning to acquire an 80% stake in Hutchison Ports from BlackRock Group. This transaction has attracted widespread attention, and once finalized, MSC will very likely become the world’s largest container terminal operator.

Among the operators listed, only DP World saw no growth in equity throughput and experienced a drop in ranking. The reason is that DP World introduced funds such as Canada’s CDPQ, which diluted its stake in its parent port, Jebel Ali Port. After securing these funds, DP World shifted its investments toward other terminal assets. Between 2019 and 2024, its total throughput increased by 16 million TEU, outperforming terminal operators like PSA International and Hutchison Ports, which specialize solely in handling and loading services.

The congestion at ports during the pandemic has underscored the critical role ports play in the global supply chain, spurring renewed activity in the port market. On one hand, liner shipping companies have been frequently making acquisitions and mergers, strengthening their control over port assets. On the other hand, major operators are also actively investing in greenfield projects to enhance their global presence.

According to Drewry’s forecast, global container terminal throughput capacity is expected to increase by 64 million TEUs in 2025, representing a year-on-year growth of 4.8%—the largest annual increase since the financial crisis. This prediction has drawn widespread attention across the industry, with many analysts pointing out that as competition among international terminal operators intensifies, emerging markets have become the focal point of strategic deployments for various players. For instance, countries such as Vietnam, India, and Morocco have already attracted at least two globally renowned terminal operators to invest in and develop new projects. Against this backdrop, Chinese port operators face greater challenges in their overseas expansion efforts.

Source: Port Circle, Global News Network

Editor: Yu Li

Proofreading: Zeng Xiong

Reviewed by: Zhang Weitian