Carriers are rushing to secure ship contracts despite rising newbuilding prices
and growing concerns over over-capacity by the time these ships hit the water in
2027-2029.
COSCO is the latest carrier to join in the new order frenzy with a fresh order
revealed last week for 12 units of 13,700 teu at its COSCO Yangzhou shipyard for
delivery over 2027-2029 bringing the total capacity contracted in August to a
record high of over 1.4m teu, including several Letters of Intent (LOIs) that
are expect