The containership orderbook has reached a record 13 million TEU, with consultancy Linerlytica warning of looming overcapacity as carriers continue to fight for market share, reports Singapore’s Splash 247.
Ships on order now exceed the combined fleets of Maersk, CMA CGM and Cosco.
The orderbook ratio stands at 38.3 percent, a level not seen since the global financial crisis nearly 20 years ago.
New ship orders in the first four months of 2026 have already surpassed 1.9 million TEU, with Linerlytica suggesting they are on track to beat the 2025 record of 5.1 million TEU contracted in a single year.
The bulk of deliveries are scheduled for 2028, where firm orders have already reached 5.2 million TEU.
Linerlytica described the ordering binge as “unrestrained” and predicted overcapacity will soon catch up with the market.
The Drewry World Container Index fell for the third consecutive week April 30, easing one percent to US$2,216 per FEU, due to softer rates on Asia-Europe, transpacific and transatlantic routes.
Drewry said elevated fuel costs and geopolitical risks have failed to offset downward pressure from excess capacity and weak demand.
US consumer confidence fell to its lowest level on record in April 2026, signalling weaker import demand ahead.
Pakistan's exports to US up by 2% to $4.63bn
Pakistan’s export of goods and services to the United States (US) witnessed an increase of 2 percent during the first nine months of the current fiscal year (2025-26) as compared to the exports of the corresponding period of last year, State Hank of Pakistan (SBP) reported.
The overall exports to US were recorded at US $4.634 billion during July-March (2025-26) against exports of US $4.543 billion during July-March (2024-25), SBP data revealed.
On a year-to-year basis, the exports to US came down by 10.27 percent from $531.954 million in March 2025, against the exports of $477.275 million in March 2026.
Meanwhile, on a month-on- month basis, the exports to US increased by 2.26 percent during March 2026 as compared to the exports of $466.724 million in February 2026, the SBP data revealed.
Overall Pakistan’s exports to other countries witnessed a decrease of 5.81 percent in the first nine months, from US $24.701 billion to US $23.265 billion, the SBP data revealed.
On the other hand, the imports from US into the country during the months under review were recorded at US $2.132 billion against US$1.724 billion last year, showing an increase of 23.66 percent in July-March (2025-26).
On a year-on-year basis, the imports for US decreased by 4.16 percent from US $223.303 million in March 2025, against the imports of US $214.008 million in March 2026.
On a month-on-month basis, the imports from US into the country also decreased by 25.59 percent during March 2026, as compared to the imports of US $303.960 million during February 2026, according to the data.
The overall imports into the country increased by 6.85 percent, from $43.378 billion to US $46.793 billion, according to the data.
Seafarers stranded 60 days in Hormuz crisis
Crews have been stuck at anchor in the Strait of Hormuz for 60 days with no sign of reopening, highlighting the human toll of the US-Israel-Iran conflict, reports the UK’s Sea trade Maritime News.
Seafarers are waiting without departure dates, unable to tell families when they will return. Analysts said the industry has failed to organise itself to move crews, leaving them in prolonged uncertainty.
The expectation of an official all-clear is misplaced, commentators noted, as the situation reflects a sustained strategic posture rather than a crisis awaiting resolution.
Every day of waiting adds to the psychological strain on crews and families.
Experts warned that enforced confinement erodes mental health, with stress escalating as uncertainty persists.
Industry wellness programmes are inadequate to address what has become a systemic operational failure.
Shipping’s response, framed as caution, has instead created risks.
Extended anchoring is not safe in contested waters, and crew welfare has been overlooked in risk assessments, critics say.
At the height of Somali piracy, the industry organised frameworks to manage risk.
Observers said similar coordination is needed now, with structured transit windows and alignment with naval forces to support safe movement.
Coalition forces under US Central Command are ready to support, but require a credible industry interlocutor.
Without collective organisation, accountability rests with shipowners, operators, flag states and associations for each additional day crews remain stranded.
Global air cargo spot rates hit three-year high
Global air cargo spot rates surged 30 percent year-on-year in April to US$3.34 per kg, their highest since October 2022, but analysts say capacity recovery should ease costs, reported Singapore’s Payload Asia.
Xeneta said long-term rates also rose 18 percent, reviving memories of pandemicera shortages.
Unlike Covid, the latest constraints are regional, though jet fuel crack spreads have exceeded pandemic peaks, adding pressure on carriers.
Chief air freight officer Niall van de Wouw said the spike was supply-driven and rates should decline gradually as capacity returns.
He noted global cargo capacity has largely recovered, and shippers are delaying tenders in anticipation of stabilisation.
Europe-Middle East spot rates hit $3.60 per kg, up 108 percent on pre-conflict levels.
South Asia routes doubled to $2.97 and $4.39 per kg to the Middle East and Europe, while rates to North America rose 70 percent to $6.94.
Southeast Asia spot rates climbed 43 percent to the Middle East and 61 percent to Europe, while North America-bound rates rose 33 percent to $6.46.
Northeast Asia outbound rates reached new highs of $5.25 to the Middle East, $5.63 to Europe and $5.54 to North America.
Transatlantic rates diverged, falling 17 percent to $2.57 per kg as summer schedules boosted belly hold capacity.
Analysts said pricing reflects supply and demand more than fuel costs, advising shippers to be wary of surcharges linked to jet fuel.
Van de Wouw cautioned that inflation and weaker e-commerce demand from China could weigh on volumes in the second half of 2026, but said overall market fundamentals point to easing rates in the weeks ahead.
Hapag-Lloyd, MSC assign upper Gulf to feeders
Hapag-Lloyd and Mediterranean Shipping Co (MSC) have launched feeder services to reconnect ports in the upper Persian Gulf, bypassing the still-closed Strait of Hormuz, reports London’s S&P Global.
The carriers announced separate services using third-party feeders to link Jebel Ali, Damman and Shuwaikh.
Hapag-Lloyd resumed bookings for dry, reefer and ingauge cargo, while MSC is introducing an express service connecting Europe, the Red Sea and Middle East.
CMA CGM has operated similar feeder services since March, but Maersk said it will continue suspending bookings to and from the UAE, Iraq, Kuwait, Qatar, Saudi Arabia and Bahrain, except for Khor Fakkan.
Hapag-Lloyd said its feeders will run between Sharjah and ports in Kuwait, Saudi Arabia, Qatar and Iraq, supported by bonded trucking to Khor Fakkan.
The road link has a lead time of about five days and connects with services to India and Oman.
The carrier halted bookings on March 4 after US and Israeli attacks on Iran.
It said feeder rotations will not follow fixed schedules and remain subject to transit safety conditions in the region.
MSC confirmed its express service will start May 10, linking Jebel Ali, Abu Dhabi, Kuwait and Umm Qasr with Damman, from where cargo will be trucked to King Abdullah port on the Red Sea.
The first sailing departs Antwerp May 10, with a rotation through Gdansk, Klaipeda, Bremerhaven, Valencia, Barcelona, Gioia Tauro, Abu Kir, King Abdullah, Jeddah and Aqaba.
MSC launches Europe- Red Sea Express
Mediterranean Shipping Co (MSC) has introduced a Europe Red Sea-Middle East Express service, with the first sailing scheduled from Antwerp on 10 May, reports London’s Container Management.
The eastbound rotation will cover Gdansk, Klaipeda, Bremerhaven, Antwerp, Valencia, Barcelona, Gioia Tauro, Abu Kir, King Abdullah Port, Jeddah and Aqaba.
It marks the first time the service will provide direct calls at two Saudi ports and Jordan’s Aqaba.
Connectivity to the UAE and upper Gulf will be handled via feeder and trucking-based multimodal solutions rather than direct vessel calls.
MSC said the service draws on its wider European network, covering origins across Northwest Europe, Scandinavia, the Baltic, West Mediterranean, Adriatic, East Mediterranean and the Black Sea.
The launch comes as carriers continue to restructure Red Sea routing in response to security disruptions since late 2023.
Longer diversions via the Cape of Good Hope have created demand for more direct and reliable alternatives on the Europe-Middle East corridor.
CMA CGM deploys its 23,876 TEUer via Suez
The Suez Canal Authority has highlighted the transit of CMA CGM’s new 23,876 TEU Grand Palais, through the canal as part of efforts to restore confidence in the route, reports Fort Lauderdale’s Maritime Executive.
Built by China State Shipbuilding Corporation and delivered six weeks ago, the Singapore-registered vessel measures 400 metres in length with a beam of 61 metres.
It is the largest LNG-fuelled containership in the world, according to the authority.
The Grand Palais departed China on March 26, calling at ports in Vietnam and Singapore before crossing the Indian Ocean.
She joined the south convoy through the canal on May 3 en route to Malta, France and Spain, deployed on CMA CGM’s Mediterranean Club Express service.
SCA chairman Osama Rabie said the transit, including the Bab al-Mandab Strait, demonstrated renewed safety and stability in the region.
He noted CMA CGM’s long partnership with the canal and its decision to restore transits earlier this year.
Most carriers remain cautious, with Maersk and Hapag-Lloyd suspending restored routes after fresh hostilities in the Middle East.
The canal authority is offering incentives and citing navigational improvements to attract more traffic.
Cruise operators have also resumed transits.
MSC Cruises and Celestyal Cruises repositioned three ships through the canal without passengers, while Crystal Cruises’ Crystal Serenity arrived at Sokhna Port on May 3 with plans to embark about 400 tourists and 520 crew, plus 200 more passengers at West Port Said.