With alternative-fueled vessels dominating upcoming fleet capacity, Alphaliner estimates that the global container ship orderbook currently stands at 9.95 million TEU. And with any significant new order, the orderbook will achieve a symbolic 10 million TEU milestone.
Alphaliner reports that the orderbook is already at historic highs having smashed the previous record of 7.12 million TEU, set in 2008, when orders reached a heady 7.19 million TEU in 2022.
“Since mid-2024, carriers and non-operating owners have contracted close to 600 additional newbuildings. Subtracting some failed orders from that number and subtracting the numerous ships that have entered service since mid-2024, equals a net orderbook addition of around 2.80 million TEU, pushing the global container vessel pipeline to 10 million TEU. The orderbook-to-fleet ratio now stands at 30.4%.”
Alphaliner added: “Despite a rapidly growing fleet, shipping lines still struggle to fill all the empty sailing slots in their schedules, and many services are short of tonnage. Subsequently, charter rates, secondhand asset prices and market sentiment remain high.
“The global population is still growing, and millions of consumers in regions such as India and West Africa will move into the middle classes over the lifetime of a container ship. Subsequently, containerized trade to and from these regions is expected to keep growing at a steady pace.”
(Photo of shipyard that is part of China’s CSSC Group)