Ageing fleet highlights recycling challenges
At the end of 2024, the global containership orderbook stood at a record 8.3 million teu, up from 7.8 million teu in 2023, with 4.4 million teu contracted during the year, despite record-high deliveries of 2.9 million teu.
Large vessels of 8,000 teu or more dominate the orderbook, accounting for 92% of its capacity. Chinese shipyards hold 72% of the orderbook, followed by South Korea (22%) and Japan (5%). Liner operators control 79% of the orderbook capacity, a growing share, compared to their 61% fleet control.
While 99% of the current orderbook is slated for delivery by 2029, ship recycling remains low, with older vessels now comprising 11% of the fleet. According to Bimco chief shipping analyst Niels Rasmussen, average annual fleet growth could exceed 3% if recycling stays below required levels. (pb)