by Lloyd's List
5 November 2024 (Lloyd's List) - DELIVERIES of new containerships this year have already exceeded all previous annual records, as more than 400 vessels with a combined slot capacity of 2.5m teu have entered service since January.
“Just 10 months into 2024, shipyards’ deliveries of containerships have reached a new annual record,” said BIMCO chief shipping analyst Niels Rasmussen. “A total of 410 ships with a capacity of 2.5m teu have been delivered, surpassing the previous full year high of 2.3m teu in 2023.”
He said that with the recycling of old boxships remaining low this year, newbuilding deliveries have increased the size of the global containership fleet by 8.7% since January.
The world’s boxship fleet now comprises 6,699 ships with an aggregate capacity of 30.4m teu.
Data provided by Alphaliner shows that a further 400,000 teu of capacity is set to hit the water by the end of this year.
Rasmussen said the containership fleet has grown by 32% in the past five years with 7.8m teu of capacity having been delivered. This is the highest level in any five-year period.
“Despite the rapid expansion of the fleet, owners continue to add orders for new ships. So far this year, contracting is already more than double last year’s total and 286 ships with a capacity of 3.3m teu have been added to the orderbook,” Rasmussen said.
He noted that the newbuilding orderbook dropped to 5.9m teu in early June but has since expanded to 7.6m teu following a surge in new orders. This represents some 25% of the existing fleet in service.
“Though the orderbook is marginally smaller than the 7.8m teu record from early 2023, it is worth noting that liner operators’ orderbooks are at a record high of 5.9m teu.”
According to Rasmussen, operating owners control 78% of the orderbook but only 60% of the existing fleet.
Tonnage of between 12,000 teu and 17,000 teu has driven 42% of capacity growth since early 2020 and will also be the main driver of growth in the coming years. This size segment contributes 47% of the orderbook in terms of capacity.
Ships in excess of 17,000 teu have provided 25% of fleet growth since 2020 and make up 27% of orderbook capacity.
An average of 1.7m teu is scheduled to be delivered each year between 2025 and 2028 with 300,000 teu already planned for delivery in 2029.
