by Lloyd's List

01 / Peter Voser, PSA International

Singapore’s PSA International, fronted by group chairman Peter Voser, the former chief executive of Royal Dutch Shell, continues to lead from the front of the global container port operators in more ways than one.

Business at the group’s much-heralded state-of-the-art Tuas port, to which PSA is gradually shifting operations from its existing flagship facility in Singapore, is beginning to ramp up. At full build come 2040, fully automated Tuas will be the world’s largest individual port, with an annual capacity of around 65m teu.

Despite chalking up more than respectable growth of 4.6% in Drewry’s latest equity-based throughput count across 2023 — breaching the 60m teu barrier in the process — PSA’s gap at the top was still closed at the expense of the ever-expanding China Merchants Ports.

In what was previously an almost insurmountable lead in the box port rankings, PSA will now be keeping a close eye on the fortunes of CMP.

02 / Feng Boming, China Merchants Port Holdings

China Merchants Port Holdings leapfrogs compatriot Cosco Shipping Ports this year as it steadily grows its terminal investment profile, both domestically and overseas.

Although the volume of fresh terminal ventures remains nowhere near that seen during the early phases of Beijing’s Belt and Road vision, the Chinese major’s appetite for strategic acquisitions appears undeterred.

Last year, the group acquired a significant stake in the world’s third-largest port, Ningbo-Zhoushan, while recent foreign forays include Indonesia — marking its first foothold in Southeast Asia — and Brazil, where it has signed a letter of intent for future terminal concessions in the port of Paranagua. 

Feng Boming, formerly of fellow state-owed Cosco Shipping, remains chairman of the Hong Kong-listed company, having taken the reins from the now retired Deng Renjie in early 2023.

03 / Zhu Tao, Cosco Shipping Ports

Cosco Shipping Ports may have slipped a place at the hands of fellow Chinese operator CMP, but the port arm of state-owned conglomerate China Cosco Shipping Corp has made its own strides over the past 12 months.

The group’s long-sought ambition to expand into Southeast Asia finally came to fruition in October. CSP sealed the acquisition of two terminal operators in Thailand’s principal port, Laem Chabang, giving the Chinese giant coveted exposure to the region’s booming trade.

This came shortly after Zhu Tao was announced as CSP’s new chairman, replacing Yang Zhijian upon his retirement in June. Tao brings a wealth of experience to the role, having held several managerial positions across the wider group and its subsidiaries.

04 / Keith Svendsen, APM Terminals

Danish behemoth Maersk’s port enterprise APM Terminals maintains its rankings position among the top terminal operators, despite a throughput dip in Drewry’s annual equity count.

APMT, boasting box facilities in 60 locations globally, will be looking to its new partnership on the east-west trades with fellow European carrier Hapag-Lloyd to help rebound volumes.

Under the pair’s Gemini Cooperation, affiliated terminals have gained precedence on port rotations as part of a refined network geared towards enhanced service reliability.

Keith Svendsen is entering the third year of his tenure as chief executive of APMT, having previously held the role of chief operating officer under his predecessor Morten Engelstoft.

05 / Sultan Ahmed bin Sulayem, DP World

Dubai-based DP World’s place in our ports rankings remains unmoved, even as the group witnessed the largest drop in box liftings across its affiliated docks during 2023.

Fresh port and terminal ventures have slowed in recent years, with the group instead focusing on acquisitions in the logistics sector to boost the supply chain offerings of existing facilities.

However, DP World is ever the opportunist. Growth opportunities in the Asia-Pacific region have therefore not failed to escape the attention of chairman Sultan Ahmed bin Sulayem.

He recently revealed to Lloyd’s List how the region sits at the heart of its global logistics expansion blueprint, as the group looks to capitalise on the trade prospects it presents.

06 / Eric Ip, Hutchison Ports 

Hutchison Ports holds on to its sixth position among the box port elite — at least for now.

The pioneering global operator — which became the first among its peers to expand overseas upon its takeover of Felixstowe in the early 1990s — will be looking nervously over its shoulder, with MSC snapping at its heels.

News that Maersk and Hapag-Lloyd will refrain from utilising Felixstowe — or indeed its Hong Kong terminals, through its subsidiary Hutchison Port Holdings Trust — as part of the pair’s Gemini Cooperation in 2025 will do little to boost prospects.

Hutchison has remained a force in the sector ever since its landmark foray into the UK. Eric Ip has been with the company for nearly all of this journey, including more than two decades as the group’s managing director.

Today, the Hong Kong-headquartered company is responsible for operating more than 50 ports across 24 countries globally.

07 / Diego Aponte, Mediterranean Shipping Co

The Aponte family-led juggernaut of Mediterranean Shipping Company is best known as the world’s largest container line and a major cruise player. However, its ports arm — which also includes subsidiaries Terminal Investment Limited and Africa Global Logistics — is steadily gaining clout.

As the carrier prepares to go solo on the major east-west trades, MSC’s affiliated terminals will also become even more integral to its network.

One of the paybacks of going it alone will be the ability to drive further volumes through the Geneva-based group’s terminal interests via its sister line — without, of course, having to cater for the needs of its former 2M partner Maersk, when the alliance ceases operations in early 2025.

With the promise of increased business and some astute acquisitions in the sector over recent years, the only way is up for the Geneva-based group’s terminal business.

08 / Enrique K Razon Jr, International Container Terminal Services Inc

Manila-based operator International Container Terminal Services Inc, responsible for more than 30 terminal operations, tops what could be seen as the second tier of container port operators.

While established players in their own right, the volumes of ICTSI and its peers pale in significance to the sector majors. In the case of ICTSI, for example, volumes for 2023 came in at around one-quarter of its nearest rival MSC.

For ICTSI, led by Filipino billionaire Enrique K Razon Jr — acting as both group chairman and chief executive — the focus will be to maintain the leading position in its class, but also to reverse a slight dip in traffic across the latest reporting period.

09 / Rodolphe Saadé, CMA CGM  

CMA CGM is the lowest of the four carrier-affiliated operators on this year’s list, but the French group is steadily making a name for itself in the ports sector.

Led by Rodolphe Saadé, the Marseille-based container shipping and logistics giant has certainly been one of the more active on the terminal acquisition front.

Following significant terminal investments in countries such as Lebanon, the United Arab Emirates, Spain, and the US, CMA CGM has continued in a similar vein in 2024, including ventures in Brazil and Morocco, where another transhipment hub is planned for the western Mediterranean, hoping to follow the success of Tanger Med.

10 / Robert Yüksel Yildirim, Yilport

Turkish terminal operator Yilport makes its long-sought entry into the elite standing of global port players, having steadily built on its port portfolio in recent years.

However, billionaire industrialist Robert Yüksel Yildirim, the group’s chairman — who also holds a 24% stake in CMA CGM — is showing little sign of resting on his laurels and is planning continued growth under his stewardship.

Yilport is aiming to add up to three ports each year through to the end of the decade, eyeing investment opportunities domestically and abroad, including in the US and Latin America.

This list is part of Lloyd’s List’s One Hundred People 2024 (Edition 14)

The Top 10 box port operators ranking is based on the equity share of global terminal teu volumes in 2023 derived from data provided by London-based consultants Drewry