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
The global containership fleet has exceeded the 30m teu milestone for the first time with 51 new containerships delivered in June, bringing the total number of ships delivered in the first 6 months of this year to 271 units for 1.68m teu. A further 1.49m teu is scheduled for delivery later in the 2nd half of the year with only minimal slippages expected. The 2nd quarter is the peak of the current delivery cycle, with an average monthly delivery rate of 315,000 teu at almost 2 new ships joining