News / Box lines scramble to secure new containership orders

The containership orderbook ratio now stands at just over 4m teu, or 27% of the active fleet, after a rush of new commissions in the past week.

Most notably, Maersk Line confirmed this week that it had ordered 20 ships, comprising six 17,000 teu units and two 9,000 teu units at Yangzijiang Shipbuilding, and six 15,000 teu units each at Hanwha Ocean and New Times Shipbuilding. These vessels will be LNG-propelled.

VesselsValue estimates that the 17,000 teu ships commissioned at Yangzijiang are priced at $219m each, while the 9,000 teu vessels cost $137m each. The 15,000 teu ships are priced at $227m each for those under construction at Hanwha Ocean and $204m each for those being built by New Times.

Furthermore, Yangzijiang’s management this week disclosed that apart from the Maersk orders, another client had contracted six 13,000 teu methanol-propelled ships. Brokers have suggested that ONE is behind the latter order, and VesselsValue estimates that each ship is priced at $168m.

In its report this week, Linerlytica observed: “Maersk is scrambling to make up for lost ground with additional newbuildings.”

Linerlytica noted that Maersk and ONE have continued to scramble to renew existing charters and to secure fresh tonnage with their under-investment in new tonnage in the last four years putting them at a severe disadvantage in the current environment with a rising number of new fixtures concluded for forward deliveries that stretches into 2025 and 2026.

Greek shipping magnate George Economou has also returned to the container segment, with his Cardiff Marine identified as the customer that commissioned four 7,900 teu scrubber-fitted ships at HJ Shipbuilding & Construction in late November.

MB Shipbroker (formerly Maersk Broker) suggested that Cardiff Marine ordered the ships after securing a seven-year charter to ZIM Line, which is now the ninth largest liner operator. Priced at $108.5m each, the ships will be delivered between late 2026 and 2027.

Also in late November, Greek owner Euroseas disclosed it had ordered a 4,200 teu pair at Yangzijiang, for $120m each; a charterer has yet to be lined up.

MB Shipbrokers said: “In line with the recently busy second-hand and charter market, the sentiment for container newbuildings is picking up again, and several liner companies are thought initiating new projects, especially in the range of 8,000 – 16,000 teu. Meanwhile, enquiries for feeders and mid-sized vessels are still few and far between, but is still expected to pick up during 2025.”