Container ship order book shrinks significantly

2017-08-01 09:00

Clarksons stated in a recent report that, since 2016, Container ships backlog capacity has decreased by 30%. During this period, new container ship orders were very limited, with only 290,000 TEU of new orders for the whole year of 2016, the lowest level since 2009. In the first half of this year, the total number of new container ship orders was less than 40,000 TEU.

In recent years, the backlog capacity of container ships has shrunk significantly, from 515 ships and 3.97 million TEU at the beginning of 2016 to 396 ships and 2.78 million TEU at the beginning of July 2017. As of early July, the backlog capacity of container ships accounted for 14% of the existing fleet capacity, the lowest ever recorded.

Therefore, it is expected that the growth of container ship fleet capacity in the next few years will be relatively moderate, significantly lower than 8.1% in 2015. For the whole year of 2017, the year-on-year growth of container ship fleet capacity is expected to be about 3%, and 3.7% in 2018.

In the current container ship backlog, the vast majority of container ships are scheduled for delivery in the next two years, with fewer container ships scheduled for delivery after 2018. As of early July, there were a total of 108 large container ships of 12,000 TEU or more in the backlog, of which only 22 are scheduled for delivery after 2019.

Clarksons indicated that, in fact, some container ships currently scheduled for delivery in 2017-18 may be delayed until 2019-20. In addition, although the current order volume for new ships is very low, new orders for ultra-large container ships may still be placed for delivery in 2019-20.

Most of the current container ship backlog consists of large container ships, with container ships of 15,000 TEU or more accounting for 40% of the backlog capacity, and the backlog of container ships of 15,000 TEU or more accounting for 73% of their existing fleet.

Meanwhile, the backlog of container ships below 3,000 TEU is 213 ships and 390,000 TEU, accounting for 10% of their existing fleet capacity. The limited number of deliveries means that the fleet capacity of this size will shrink in the short term. In addition, the backlog of container ships of 3,000-7,999 TEU is very small, accounting for only 2% of their existing fleet capacity.

Clarksons stated that the backlog of container ships has decreased significantly, and with the current low order volume for new ships, the backlog is expected to continue to shrink in the future. Although there is a large gap in the backlog of container ships of different types and sizes, overall, the delivery volume of container ships after 2018 will be significantly reduced.

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