An unprecedented newbuilding cycle in the container shipping industry has entered a new phase, with several liner operators now carrying orderbooks that exceed the total size of their
existing fleets.
Citing Alpha liner’s top-100 carrier data, Vespucci Maritime shipping analyst Lars Jensen identified five operators whose outstanding orders surpass their current deployed capacity: Regional Container Lines holds orders equivalent to 157% of its existing fleet; Zhonggu Logistics stands at 122%; Kawa Shipping at 130%; OVP Shipping at 105%; and Vietnam’s Hai An Transport leads the group at a striking 368%. Lidl’s
in-house shipping arm, Tailwind Shipping, follows closely at 97%.
The broader container supply pipeline continues to expand. Following Maersk’s confirmation of an order for 26 vessels of 18,600 TEU and CMA CGM finalisation of 12 ultra- large containerships of 24,000 TEU, shipping analytics firm Linerlytica reported this week that the ratio of containership orders to existing fleet has surpassed 45% – the highest level recorded since 2009.
According to Linerlytica, the global containership orderbook now stands at 1,925 vessels with a combined capacity of 15.6 million TEU, more than doubling the post-pandemic peak of 7.6 million TEU recorded in August 2023.
Order concentration among the largest liner operators merits equal scrutiny.
Based on Sea-Intelligence calculations, Maersk’s order bock represents approximately 35% of its current fleet; Mediterranean Shipping Company and CMA CGM both stand at 39%; while COSCO Shipping Lines reaches 52%.
In a recent report, Sea-Intelligence cautioned: “Commercial competition among the four major liner giants is building.
The firm assessed that as large volumes of new buildings enter service, carriers will face mounting pressure to pursue market share gains, making capacity discipline increasingly difficult to sustain.
A further variable is emerging the gradual resumption of Suez Canal transits on Asia-Europe trades will shorten voyage distances and release substantial vessel capacity previously consumed by Cape of Good Hope diversions.
When this returning tonnage converges with the largest containership orderbook in maritime history, the industry’s most consequential test will begin in earnest.
MSC Continues Fleet Expansion with Order for Six 21,700 TEU Container Vessels
Mediterranean Shipping Company (MSC) has demonstrated its continued commitment to large scale fleet growth, placing a new order for six 21,700 TEU container vessels further evidence that demand for ultra-large container Ships among top-tier liner operators remains firmly intact.
According to the latest weekly report published by ship broker Bancosta, MSC has contracted the Six vessels with Changhong International, with each unit priced at approximately USD 225 million and delivery scheduled for June 2029.
Building on that foundation, MSC subsequently placed additional orders with Changhong International for ten 10.300 TEU vessels, twelve 19,000 TEU vessels, and the current series of 21,700 TEU units.
Inclusive of the latest order, the total number of large container ships MSC has contracted with Changhong International now approaches 50 vessels.
According to the latest data from Alpha liner, MSC currently operates a fleet of 1,014 container vessels – comprising 766 owned ships and 248 chartered vessels – with a total capacity of 7.437 million TEU and a global market share of 21.6%.
The company’s orderbook stands at 164 vessels, representing approximately 2.909 million TEU, equivalent to 39.1% of its existing operational capacity.
Among its peers, CMA CGM holds an orderbook of 163 vessels at approximately 1.734 million TEU, representing 39.3% of its current fleet capacity; Maersk carries 122 vessels on order at approximately 1.702 million TEU, equating to 35.9% of its total capacity; Hapag-Lloyd holds 62 vessels on order at approximately 489,000 TEU, accounting for 20.4% of current capacity; and Ocean Network Express (ONE) maintains an orderbook of 47 vessels at 584,000 TEU, equivalent to 26.8% of its existing fleet.
Measured by orderbook-to- fleet ratio, several growth-oriented carriers stand out with particular clarity.
Regional Container Lines (RCL) of Thailand has added four vessels to its orderbook, bringing its total to 29 ships at approximately 148,234 TEU a figure representing 162.1% of its current fleet capacity.
T.S. Lines has accumulated an orderbook of 15 vessels at approximately 69,432 TEU, equal to 55.2% of its existing capacity.
Wan Hai Lines and Pacific International Lines (PIL) record orderbook-to-fleet ratios of 80.8% and 64.8% respectively -metrics that signal a deliberate and sustained program of fleet expansion across the midtier segment of the container shipping market.
Asia vessel reliability falls as port congestion bites
Severe port congestion across Asia pushed container vessel schedule reliability down to 32.3 percent in August 2026, with late vessels arriving an average of 7.28 days behind schedule.
The decline was widespread across the region, with almost every country recording lower schedule reliability than in July.
Vietnam recorded the smallest month-on-month decline at 5.9 percentage points, while South Korea experienced the largest drop at 13.1 percentage points.
The data indicates that congestion is affecting ports across multiple Asian markets rather than being concentrated in individual locations.
Thailand was the only country to record an improvement, with schedule reliability increasing by 3.0 percentage points month-on-month in August.
China experienced the sharpest deterioration among the markets measured, with vessel schedule reliability falling to 23.9 percent.
The country’s two largest container ports were particularly affected.
Schedule reliability a Shanghai fell to 12.2 percent while Ningbo recorded a reliability rate of 16.9 percent.
The figures highlight the Continuing impact of port congestion on vessel schedules across major Asian shipping hubs, with lower reliability adding to delays for carriers, terminals and cargo owners.
DP World: Feeder and Short-Sea Shipping Set to Assume Greater Strategic Importance
In a recently published white paper, DP World has highlighted that feeder shipping, coastal transport, and short-sea shipping are poised to play an increasingly significant role in global supply chains, driven by the dispersal of manufacturing toward emerging production centres and the regionalisation of cargo flows.
Released on 24 September, DP World’s new maritime services white paper – “Navigating the Future of Maritime Trade” – provides a systematic analysis of these industry trends.
The research identifies a sustained rise in manufacturing activity across India, Southeast Asia, Latin America, the Middle East, and Africa, a shift that is generating new cargo flow patterns and fuelling growing demand for transport services capable of connecting production hubs, smaller ports, regional gateway ports, and deep-sea mainline routes.
The trend is most pronounced within intra-Asian trade, where production activity has progressively dispersed across China, Vietnam, Indonesia, Malaysia, and India.
DP World notes that this redistribution is driving increased demand for feeder, coastal, and short-sea services linking production centres, regional hubs, and deep-sea mainline networks.
Ganesh Raj, Global Chief Operating Officer of DP World Maritime Services, identified the pivotal mechanism underpinning this evolution: “At the heart of this is optimizing what we call ‘interconnected trade corridors.”
” This model integrates ports, feeder and short-sea shipping, coastal transport, inland waterways, road and rail networks, and digital systems enabling cargo to be rerouted through alternative gateways when established corridors face disruption.
DP World’s 2026 Global Trade Outlook, which surveyed more than 3,500 supply chain and logistics executives, reinforces the scale of this structural shift.
Fifty- four percent of respondents anticipate trade growth this year to exceed that of 2025, while 40 percent expect growth to remain on par.
Merchandise exports between developing economies have risen from approximately USD 500 billion in 1995 to USD 6.8 trillion in 2025, with roughly 57 percent of developing-country exports now flowing to other developing nations.
The survey further reveals that 36 percent of executives cite improved transport connectivity as a driver of supply chain rerouting decisions, 35 percent point to streamlined customs processes, and 27 percent are motivated by the geopolitical chokepoints.
DP World’s maritime services network spans more than 200 ports across Northern Europe, the Mediterranean, the Middle East, Africa, Asia, and the Americas, supported by a fleet of over 500 vessels – a platform of scale that positions the company to serve the evolving demands of regional and intercontinental trade alike.
China container throughput rises 4 percent through August
China’s ports handled 242.94 million TEUS in the first eight months of 2026, up 4 percent year- on-year, according to the country’s Ministry of Transport.
Coastal ports accounted for 214.15 million TEUS, an increase of 4.1 percent, while inland river ports handled 28.78 million TEUS, up 2.9 percent.
Total cargo throughput reached 12.06 billion tonnes between January and August, representing a 0.5 percent year-on-year increase.
International cargo rose 2.8 per cent to 3.8 billion tonnes, with coastal ports handled 3.42 billion tonnes, up 3.1 percent.
Shanghai remained China’s busiest container port, handling 37.7 million TEUs, up 2.7 percent year-on-year.
Ningbo-Zhoushan recorded 30.4 million TEUs, an increase of 6.1 percent, while Shenzhen handled 25.02 million TEUS, also up 6.1 percent.
Qingdao processed 23.57 million TEUS, representing growth of 6.9 percent, while Guangzhou handled 18.83 million TEUs, up 2.1 percent.
Among China’s 10 busiest container ports, Beibu Gulf Port was the only facility to report a decline.
Throughput fell 3.4 percent to 6.19 million TEUS.
The figures show continued growth across China’s major container gateways, with four of the five largest ports recording increases of more than 2 percent during the first eight months of the year.
Exports jump 11pc
ISLAMABAD: Pakistan’s merchandise exports grew by 10.84 percent in the first quarter of the current fiscal year (FY27), despite the trade gap widening on the back of rising imports, the Pakistan Bureau of Statistics reported on Friday.
In absolute terms, export proceeds stood at $8.43 billion in July- September, up from $7.59bn in the corresponding period last year.
Officials noted that the impact of budgetary measures on the export sector may become more apparent in the months ahead.
Export proceeds grew despite Prime Minister Shehbaz Sharif’s clear displeasure with exporters’ performance.
In September, exports rose by 17.61pc to $2.94bn, from $2.49bn in the same month last year, suggesting a revival of the export sector.
Trade gap widens 15.13pc to $10.79bn in July-Sept On a month-on-month basis, export proceeds rose 16.07pc.
In FY26, Pakistan’s merchandise exports not only missed the annual target by $4.87bn, but also contracted, reflecting the PML-N-9 led coalition government’s failure to achieve visible improvement over the last four years.
Export proceeds also contracted by 5.97pc to $32.04bn.
The planning ministry had earlier projected that export proceeds would climb to $60bn by 2030- a target that has largely remained confined to official documents.
More recently, however, the same ministry revised the projection upward, setting a new target of $100bn by 2035.
Maersk Orders 26 New Vessels to Defend Market Share, Earning Positive Investor Assessment
Maersk has confirmed an order for 26 vessels of 18,600 TEU capacity, positioning the company to defend its market share from a position of strength – a move widely expected to deliver sustained and meaningful uplift to Maersk’s stock.
Leading voices in the investment community have responded with clear approval.
AkademikerPension Chief Investment Officer Anders Schelde and Danish Shareholders Association Chief Executive Mikael Bak both expressed positive views on the significance of this major newbuild order.
Danish Shareholders Association Director Mikael Bak remarked that such a large-scale investment sends an important signal of confidence in the company and its business.
According to Bnak, this move makes Maersk stock more attractive and could, over the long term, draw investors hack to the Company
AkademikerPension CIO Anders Schelde shared a similar opinion, observing that Maersk is making a strategie pivot by reinforcing its commitment to fleet expansion.
Schelde noted that Maersk has lost a significant volume of market share over the years and sees the decision to begin defending that position as entirely natural.
Maersk CEO Vincent Clerc has delivered a decisive signal to the market with this bold move.
As Clere has articulated, greater capacity scale positions the company to more effectively capitalise on the pronounced volatility that characterises the container shipping market.
Schelde emphasized the urgency behind the order, noting that Maersk was the world’s largest liner company only five years ago.
He suggested that while the company could observe market developments for a period, it eventually had to act to avoid conceding further ground.
Mikael Bak of the Danish Shareholders Association argued that Maersk had not been overly cautious.
In his view, the past five years of extraordinary global unpredictability demonstrate that Maersk has held its course.
Bak acknowledged that some might argue Maersk should have acted sooner but emphasized that the stock’s performance in recent years does not warrant criticism.
Schelde agreed, suggesting that an earlier strategic shift by Maersk could have imposed significant costs on the broader market.
He speculated that if Maersk had moved aggressively to defend its market share earlier, it could have materially lowered earnings across the entire industry.
In this sense, he believed Maersk’s measured approach has provided some benefit to the broader market.
Both investors acknowledged that overcapacity has long represented a structural risk for liner operators.
However, they agreed that recent black swan events such as the pandemic, the Red Sea crisis, and disruptions in the Strait of Hormuz combined with wide spread bottlenecks and underde veloped port infrastructure, have underscored the market’s need for additional effective capacity.
Schelde highlighted the role of Maersk’s logistics division, noting that it has not fully insulated the company from its ocean shipping operations and likely never will.
However, he did not believe the new vessel order would diminish the priority given to logistics, emphasizing that the move is fundamentally about defending ocean market share.
AkademikerPension, which holds approximately DKK 430 million (around USD 66 million) in Maersk stock, underscored the institutional weight behind this endorsement of the company’s strategic direction.