Vessels Value's outlook on newbuilds
Rebecca Galanopoulos Jones, senior content analyst at Vessels Value, has underpinned current developments on the maritime container market with the latest data. While volumes on the main trade lanes are slowing despite congestion, container traffic continues to decline gradually in the second half of 2022.
However, within Asia, the market has been showing signs of strength. Fleet growth remains high with the orderbook currently at 30% of the existing fleet in July, the highest levels since the peak in 2008.
Demand for newbuildings has decreased over the year. Shipyard orderbooks reached capacity during 2021, when container ordering reached record highs at 621 vessels equating to 3.9 million teu. For comparison, 2022 has seen just 355 newbuilding orders so far.
The main type ordered in 2021 was New Panamax vessels of 15,000 teu by OOCL, Cosco Shipping, Seaspan, Evergreen Marine and Wan Hai Lines. This year, however, Post Panamax is the favoured type with CMA CGM, MSC, Seaspan and Eastern Pacific all ordering 7,000 to 7,800 teu vessels.
Jones: "Newbuilding prices will generally remain at current or higher levels through the coming year. Post 2023, total ordering activity is forecast to cool off as the appetite for new container vessels declines." (sh)