The global shipbuilding orderbook has expanded by 27% year on year in gross tonnage terms, its fastest growth since the eve of the 2008 financial crisis, according to Clarksons Research.
Shipyards had 9,012 vessels totalling 405.9m gt on order at the beginning of August. That compares with a global merchant fleet of 117,022 ships and 1.8bn gt, up 4% over the previous 12 months.
Owners contracted 1,947 vessels totalling 105.7m gt during the first seven months of 2026, putting ordering broadly in line with 2007, when a record 173.7m gt was booked at the peak of the previous shipping supercycle.
Greek owners led newbuilding investment during the period, followed by Chinese owners, with Singapore ranking third.
The backlog is now about 70% to 75% above the 2020s average of roughly 230m to 240m gt.
The orderbook previously expanded by about 24% in 2021 and 26% in 2024. The present cycle differs from the pre-2008 boom because the global fleet is substantially larger, lending standards are tighter and part of the ordering is linked to fleet renewal, ageing tonnage and uncertainty over future fuel and emissions requirements.
Clarksons Research is the data and analytics arm of maritime services group Clarkson. It operates subscription platforms including the World Fleet Register and Shipping Intelligence Network, covering the global fleet, shipbuilding, maritime trade, vessel deployment, emissions regulation and alternative fuels.