• 2021 August 27 13:03

    Cash-rich shipowners double container ship order book in 2021

    Freight rates are record high, record amounts of cargo are shipped across the Pacific Ocean, as well as globally, and the previous yearly record for new container ship orders has just been broken (measured in capacity) in less than eight months, according to BIMCO's release.

    As a result of very healthy shipowner bottom lines and carriers experiencing a lack of tonnage, 619 container ships are now on order for future delivery. Of those, 381 have been ordered in 2021 alone and never has 3.44m TEU been ordered in such a short time span.

    Still, it’s not a record for the total orderbook, as 6.8m TEU were on order by the end of July 2008, compared to 5.3m TEU by late-August.

    “Today the container ship order book holds 5.3m TEU of shipping capacity which is scheduled to be added to the fleet from 2023 and onwards. Entering 2021, the order book stood just at 2.5m TEU. Since then, a record high 3.3m TEU has been ordered, indicating that shipowners are going big on investing in new capacity,” says Peter Sand, BIMCO’s Chief Shipping Analyst.

    “Size still matters, but it is no longer the only thing that matters. Your ships must be ready to fit emerging trade lanes, and many of the new ships on order will be scrubber-fitted,” Sand says.

    In February, March, April and June, a total of 60 container ships with a cargo carrying capacity of 16,000 TEU each were ordered by just five different owners. Half of them were ordered by two Top-4 tonnage providers and one minor, while the other half was ordered by operating liner companies.

    As owners have observed different trade patterns forming in recent years, and still do, due to the US-China trade war and the COVID-19 outbreak, the more “versatile” 13,000-16,000 TEU ships have been preferred to the Ultra-Large Container Ships (ULCS).

    No more than 22 ULCS was ordered during the first seven and half months of 2021. In February, 14 units of 24,000-24,100 TEU ships were ordered and in June, another eight units of 23,500-24,000 TEU followed.

    In particular for the larger ships, that lower their voyage costs the most from consuming the less costly heavy-sulphur fuel oil (HSFO).

    Out of the 168 ordered container ships year-to-date, with a capacity of at least 11,800 TEU, 117 will be delivered with a scrubber fitted directly from the shipyard (71%). A total of 29 units will be scrubber-fitted but also made LNG-ready, whereas 34 units will be delivered as “LNG-capable”, meaning that they will run on gas from day one. Lastly, 17 ships appear to be without any such modifications upon delivery.

    Container shipping capacity of 1.5m TEU has been ordered so far in 2021 for delivery in each of the years 2023 and 2024. As the scheduled orderbook for 2024 today stands at 2.15m TEU, it is worth noticing that the record delivery year date back to 2015 when 1.66m TEU entered active service on the global container lines’ networks.

    Due to this inherent bias, BIMCO always account for a certain delay in schedules deliveries when we aim at forecasting what will in fact be delivered in any given year. Our current estimate suggests that the 2015 delivery record will not be broken. For an update, please see our quarterly Shipping Market Overview & Outlook, the third of the year, which is due in early September.


2024 June 17

18:16 Philippine supply ship bumped Chinese ship
17:49 Survitec secures JMSDF submarine escape suit contract
17:36 First mega cruise ship built for short cruises delivered to Royal Caribbean
17:14 Petroleum chemical product carriers drive order performance of Korea shipbuilding industry
16:37 MPA: Joint oil spill clean-up operations advance to next phase
16:23 Greek shipowners start investing in large new ships to transport ammonia
15:42 BV awards AiP to Antwerp-based Seafar for its remote vessel operation technology
14:31 USACE continues maintenance dredging at Markland Locks
14:29 Green Marine UK partners with C-Power to advance autonomous offshore power systems
13:17 Van Oord releases statement concering collision Vox Maxima with bunker vessel
12:04 Green Marine and Ocean Kinetics form JV Partnership to decomission OpenHydro tidal turbine in Scotland
11:52 ClassNK releases 2nd Edition “FAQs on the FuelEU Maritime”
11:07 Allision of dredger Vox Maxima was caused by a sudden loss in engine and steering control, MPA investigation showed
10:28 Sweden-Belgium Green Shipping Corridor expands ambition for the world's first green ammonia shipping corridor and welcomes new partner
09:23 APM Terminals calls first movers to join Innovators Program to enhance visibility and reliability for customers
09:11 Georgia Ports Authority sees 22% container growth

2024 June 16

16:18 Diana Shipping Inc. announces time charter contract for m/v Myrsini with Cobelfret S.A.
15:16 MPA: Joint oil spill clean-up operations in Singapore continue
14:27 Watershed moment for AMSA’s future maintenance on aids to navigation
14:07 Mammoet awarded construction upgrade of Hawaii dry dock
13:54 CMA CGM announces update on its IEX 2 service
12:31 Jan De Nul order first plug-in hybrid dredging vessel
10:26 Solstad announces contract extension for its CSV duo by Subsea 7

2024 June 15

14:15 VARD hosts a christening ceremony for third VARD 8 02 design stern trawler
12:03 TECO 2030, BLOM Maritime and Samskip receive ENOVA grant to retrofit Samskip LNG Vessel with fuel cells and hydrogen fuel
10:06 The 3rd of 12 plug-in hybrid vessel joins Swedish shortsea operator's fleet
09:51 S&P Global: Guangdong province's market-based power subsidy supports gas demand growth

2024 June 14

18:09 Strategic R&D alliance formed to standardize materials for LH2 carriers
17:44 BSEE conducts first offshore wind turbine inspection
17:23 Aker Artic completes ice-going SOV concept for offshore wind farms
17:19 Orsted completes construction of combined wind and solar project in Texas
16:57 MPA: Oil spill clean-up in progress at Pasir Panjang Terminal
15:37 ADNOC awards $5.5 billion of contracts for Ruwais LNG plant
15:11 Allseas awarded Troll extension pipeline
14:26 Havila Shipping inks deals for its three PSVs with Equinor
14:03 LR partners with COFCO International on fleet emissions reduction programme
13:18 Bulk carriers second-hand market overperforms
12:53 CMA CGM announces PSS from Spain (Med) to West Coast South America, Central America & the Caribbean
12:00 QatarEnergy enters 10-year naphtha supply agreement with India's HPL
11:46 ABS releases new notation that enables vessel operators to carry an additional tier of containers
11:33 Holland Shipyards announces successful convertion of an inland vessel into dredger
11:17 DNV joins technical cooperation programme for medical devices (TCP III)
10:42 TES and “K” LINE partner for sustainable maritime shipping solutions
10:11 CMA CGM announces Peak Season Surcharge for Middle East Gulf & Pakistan-West Africa trade
09:48 MOL and INDU establish JV with for self-operated warehouses in JAFZA Dubai

2024 June 13

18:07 Jan De Nul and partners start AquaForest project for construction of mangrove island in Ecuador
17:31 UECC: Biofuels boost puts the leading European shortsea carrier on course to beat emissions reduction target
17:23 MacGregor secures crane order for MMA Offshore
16:40 KR grants approval to HD HHI’s next generation K-Ammonia Storage & Powered PCTC
16:13 Damen Shipyards signs contract with UK’s Portland Harbour Authority at Seawork 2024 for the supply of one of its latest tugs
15:52 First 800m3/h multifunctional amphibious dredger successfully completed
15:07 French engineering firm Doris contracted by Mexican operator on its $4.5 billion oil project
14:51 Damen unveils fully electric FCS 3210
14:38 KR, Hanwha Ocean, Amogy and HanwhaAerospace team up for application of ammonia reformers and ammonia fuel cellsystems to ships
13:44 Seabourn's expedition ship Seabourn Pursuit sails into Australia for the first time
13:26 BIMCO: Newbuilding prices climb 3% to highest level in 16 years
12:31 MABUX: Bunker Outlook, Week 24, 2024
12:23 KR grants AiP for 150K ULAC and signs MoU with SHI for development of ammonia-fueled container ships
10:49 DNV leads global joint industry project to set standards for crucial CO2 flow meter traceability and accuracy in CCUS
10:18 Avantis and T.J. Giavridis join forces to enhance support for Greek shipowners
09:36 Berg secures Louis Dreyfus Armateurs propulsion package for wind-assisted Airbus Ro-Ro vessels

2024 June 12

16:47 Solstad bags multiple contract awards in Brazil
13:18 Panama Canal announces new increase in draft and daily transit
11:37 Port of Salalah expansion on track to further reduce port stay by year end
11:06 DP World wins four finance and sustainability awards
09:53 Record number of cruise ships call at Port of Southampton in May

2024 June 11

18:17 WSC releases containers lost at sea report
17:41 SLSMC Board of Directors names new President and CEO
17:24 Hanwha Ocean launches Korea’s first large offshore wind turbine installation vessel
17:16 Kalmar continues to drive decarbonisation of cargo handling with new electric empty container handler