World News
One-Third of New Boxships Ordered Won't Sail Before 2028
The container ship orderbook has hit a record 9.1 million TEUs, with nearly 800 vessels in the pipeline. However, with shipyards operating at full capacity, many deliveries are being pushed back.
Sector specialist Alphaliner reports that despite the container vessel orderbook making up 29% of the current global fleet, a large share of these vessels won't enter service until 2030.
Many top-tier shipyards are fully booked until the end of the decade, and about a third of vessel orders won't be delivered for at least three years. This means ships that would normally be ordered in 2026 for delivery in 2029 or 2030 are already in the pipeline today.
Alphaliner argues that the market has not seen such long delivery lead times since the 2005-2007 ordering boom, which came before the 2008 market crash. Its data shows that many ships ordered during that period faced delivery delays.
"After the crash of 2008, owners renegotiated and deferred deliveries, which led to some ships being handed over with delays of one or even two years," it said.
Alphaliner cautions that container shipping companies may struggle to secure shipyard slots for new vessel orders over the next three years as global shipyards are already operating at full capacity.
As a result, the typical lead time for newbuild deliveries has stretched to four or even five years, meaning ships ordered today may not be completed until the early 2030s.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 507.50 | 0.00 | 640.50 | 6.00 |
| Rotterdam | 494.00 | 0.50 | 631.00 | 1.50 |
| Houston | 519.50 | 1.00 | 669.00 | 0.50 |
| Fujairah | 510.00 | 0.00 | 738.50 | 3.50 |
| Global 20 Ports Average | 550.50 | 1.50 | 745.50 | 3.50 |
| Global 4 Ports Average | 507.50 | 1.00 | 670.00 | 3.00 |
| Global Average Bunker Price | 598.50 | 0.50 | 790.50 | 0.00 |
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