The containership orderbook has risen to a record high of 10.4 million TEU after a surge of new ship orders over the past 12 months, according to Linerlytica.
The orderbook ratio has increased to 31.7% of the fleet, the highest since 2010. The last time this ratio exceeded such levels was between 2004 and 2009, when the market faced a decade-long supply overhang that took 10 years to resolve.
More than 1 million TEU of pending ship orders are still expected to be added before the end of this year.
Linerlytica is a shipping and freight market analytics provider that publishes data, reports and forecasts on global container shipping, port congestion, charter rates and related sectors.