News / Feeders still dominate newbuild orders, but 'cautious' ONE goes large

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The highlight among containership newbuilding orders this week is six 15,900 teu vessels ONE is understood to have commissioned at South Korea’s HD Hyundai Heavy Industries.

The yard announced the order but did not disclose the customer’s identity, however, MB Shipbrokers named Japanese liner grouping Ocean Network Express.

The Danish brokerage added: “The project further expands ONE’s growing portfolio of alternative-fuel tonnage across multiple yards.”

The LNG dual-fuelled newbuildings will cost $203m each and be delivered by the end of 2029.

It appears that Singapore-headquartered ONE, whose 2025 net profit plummeted 92% year on year, to $338m, has cautiously pared its newbuild plans from 22 ships to six. The original plan comprised six 13,000 teu vessels, with options for six more, and six at 15,000 teu, plus options for four more.

ONE said it “does not comment on market speculation or third-party disclosures”. The carrier has a sombre outlook for container shipping this year and expects net profit to fall again, to $300m.

Elsewhere, newbuilding orders continue to be concentrated on the feeder sector, highlighting the growth of regional trades and its aging fleet.

John Su’s Athens-based Erasmus Shipinvest has commissioned four 2,400 teu ships at Taizhou Sanfu Ship Engineering, his third boxship order of the year. At $45m each, they will be delivered between 2028 and 2029, with options for two more.

Last month, Erasmus ordered a 1,800 teu pair from CSSC Huangpu Wenchong Shipbuilding, with options for two more.

Ningbo Ocean Shipping has ordered four 1,900 teu ships at Wuchang Shipyard, each estimated to cost around $32m, to be delivered in 2028. In January, the company exercised options for a 4,300 teu pair at Wenchong, at $57.5m each, after an initial order for four ships last August.

The orderbook-to-fleet ratio is now estimated to be at least 39% of the active fleet, prompting overcapacity concerns once deliveries start in 2028, and orders are not about to slow down.

MB Shipbrokers said: “Several projects across different size segments remain under negotiation, and we expect to report further new orders in the coming weeks.”