Boxship orderbook bulges as race for giant vessels heats up

The container shipping orderbook has swelled to 46.5% of the active fleet, a post-2009 peak, as carriers race to secure ultra-large tonnage.

With the orderbook at 16.2m teu, newbuilding activity shows no sign of slowing – Chinese shipyards alone have booked a record 4.94m teu this year, accounting for 88% of the total capacity ordered, according to Linerlytica.

The orderbook-to-fleet ratio is also expected to grow, with Maersk and CMA CGM in the market for more giant ships.

Tellingly, Hengli Heavy Industries announced today it had won orders for 52 ultra-large dual-fuel containerships: 20 of 24,000 teu; 20 ; of 19,000 teu; and a dozen of 22,000 teu.

The 24,000 teu orders are believed to be from MSC, which reportedly wants 10 LNG dual-fuelled vessels, while upgrading 10 existing 22,000 teu orders to 24,000 teu. The Swiss-Italian liner major is said to be splashing out close to $2.5bn.

This will bring MSC’s haul at Hengli to 30 LNG dual-fuelled 24,000 teu ships, and more than 60 in total – a move believed to be spurred by its competitors’ moves.

Maersk, which was dethroned from the top of the liner rankings in 2022 by MSC, is now eyeing a dozen 24,000 teu ships, up to 24 LNG dual-fuel 19,000 teu vessels and six at 18,600 teu. South Korean and Chinese shipyards have been invited to submit quotes.

Shipbrokers said CMA CGM has chosen Yangzijiang to build a dozen LNG dual-fuelled 24,000 teu containerships, although the French line has yet to confirm this.

And the activity extends across segments. Zhonggu Logistics has entered the large ship segment, ordering a 14,000 teu pair at Hudong-Zhonghua for $155m each, joining fellow mid-sized shipping lines such as Emirates Shipping Line, Regional Container Lines, TS Linesm and China United Lines. Delivery is set for 2029 to 2030.

On Tuesday, HMM announced it had ordered eight 13,000 teu LNG dual-fuelled ships from HD Hyundai Heavy Industries for around $1.5bn, for deployment on its Far East-India-Mediterranean service from 2029. South Korea’s flagship carrier has also acquired four feeder vessels second-hand.

These will be integrated into emerging regional feeder networks linked to major hub ports, reinforcing HMM’s hub-and-spoke network competitiveness.