Economies of scale in maritime shipping
The evolution of containerisation, as indicated by the size of the largest available containership,
is a stepwise process (Fig. 5). Changes are rather sudden and often correspond to the
introduction of a new class of containership by a shipping company (Maersk Line tended to be
the main early mover), quickly followed by others.
Since the 1990s, two substantial steps took place. The first involved a jump from 4 000 to
8 000 TEUs, effectively moving beyond the "panamax" threshold of around 5 000 TEU. This
threshold is particularly important as it indicates the physical capacity of the Panama Canal and
thus has for long been an important operational limitation in maritime shipping. The second step
took place in the 2000s to reach the 12 500 TEU level. This is essentially a "suezmax" level, or a
"new panamax" class when the extended Panama Canal is expected to come online in 2014.
From a maritime shipper's perspective, using larger container ships is a straightforward process
as it conveys economies of scale and thus lowers costs per TEU carried. From a port terminal
perspective, this places intense pressures in terms of infrastructure investments, namely
portainers.
When it comes to the dimensioning of the latest generation of ultra-large container carriers, it is
becoming increasingly clear that large followers (e.g. MSC, COSCO and CMA-CGM) are not
blindly following the path of early adopter Maersk Line. Their „wait and see‟ approach has
resulted in slightly shorter vessels compared to the Maersk giants (350-370m instead of the
396m of the Emma Maersk) while achieving nearly the same unit capacities. Their more compact
size will make these vessels fit perfectly in the new Panama Canal locks (the Emma Maersk is
oversized) and results in a better maneuverability on bendy rivers to major „must‟ ports of call
such as the river Scheldt to Antwerp and the river Elbe to Hamburg. Therefore, the size and the
configuration of the largest container ships are being “fine tuned” to optimize the existing and
projected nautical profile of the world‟s shipping lanes and ports.