Container Ship Order Book Hits Historic High of 8.3M TEUs
The global container ship order book reached a historic 8.3 million TEU in 2024, surpassing the previous record of 7.8 million TEU set in 2023.
A contracting boom led to 4.4 million TEU being ordered in 2024 alone, with ships 8k TEU or larger dominating 92% of the order book.
Chinese shipyards hold 72% of the total orders, while South Korean and Japanese shipyards claim 22% and 5%, respectively, benefiting from the ongoing demand.
Liner operators control 79% of the order book, ensuring their fleet capacity grows significantly in the coming years, reshaping the shipping landscape.
99% of the order book will be delivered from 2025 to 2029, with deliveries peaking at 2.2 million TEU in 2027, signaling an unprecedented fleet expansion.
Despite record orders, vessel recycling remains low, with just 166 ships recycled in four years, pushing the fleet’s average age higher and increasing the share of aging vessels.
By 2029, the global fleet could grow to 35.8 million TEU, marking a transformative era for container shipping, provided growth in recycling and contracting stabilizes.