📣 Splash Maritime and Offshore News (splash247.com): "44% of record global liner orderbook is replacement tonnage. Analysts at Alphaliner have identified just how much of the ships on order are needed as fleet replacement with Maersk notably behind its peers when it comes to rejuvenating its ageing fleet. While the global container fleet will grow significantly in the years ahead, Alphaliner data does show that nearly half of the ships on order among the big 10 liners will actually be replacement tonnage." 📰 Read the full article by Splash247 at https://bit.ly/4dOR4Xm. 👈
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CONTAINERSHIP: 44% of record global liner orderbook is replacement tonnage; Today’s containership orderbook is the largest it has ever been in terms of teu capacity. Helping put some perspective to the newbuild avalanche, analysts at Alphaliner have identified just how much of the ships on order are needed as fleet replacement with Maersk notably behind its peers when it comes to rejuvenating its ageing fleet. The top 10 ocean carriers currently have 431 container ships on order for a total capacity of more than 5.9m teu, according to Alphaliner, something that along with record LNG carrier orders has elbowed out tanker and dry bulk owners from blue chip yards across Asia. The global liner vessel fleet reached 30m teu for the first time in history this June. While the global container fleet will grow significantly in the years ahead, Alphaliner data (see chart below) does show that nearly half of the ships on order among the big 10 liners will actually be replacement tonnage. Today, the top 10 container lines still operate 683 vessels aged 20 years or older, representing a capacity of more than 2.6m teu, Alphaliner data shows. (by Sam Chambers, Splash Maritime and Offshore News (splash247.com) https://lnkd.in/d4ghaMG3
44% of record global liner orderbook is replacement tonnage - Splash247
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We've just hit an all-time high in containership orders by capacity. Alphaliner's latest analysis shows that a big chunk of these new ships will replace older ones, but there’s an interesting twist with Maersk lagging behind its competitors in updating their fleet. Here are some key points: 🔹 The biggest names in the biz have 431 new container ships on order, adding up to over 5.9 million TEU. This huge demand, along with record LNG carrier orders, has pushed tanker and dry bulk owners out of top shipyards in Asia. 🔹 The number one for new builds AND the carrier that has the oldest fleet is MSC 🔹 Additional orders in China are filling up shipyard capacities, which is affecting the availability and pricing for tanker newbuilds. The containership market is getting stronger, making shipyards more selective. 🔹 By the end of August, new containership orders had already surpassed the total for all of 2023, with many more slots booked since then. 🔹 This June, the global liner vessel fleet hit 30 million TEU for the first time ever, showing just how much the industry is growing. 🔹 Nearly half of the ships on order among the top 10 carriers are for replacing older vessels. These companies are still running 683 ships that are 20 years or older, totaling over 2.6 million TEU. 🔹 Maersk has been slower in ordering new ships compared to its peers. But they’ve committed to renewing 800,000 TEU over the next five years, including 500,000 TEU of chartered vessels. Some of these charters haven't been announced yet, which might make their numbers look smaller for now. While we are seeing significant growth in the global container fleet, a major focus is on replacing older vessels, which, fingers crossed, keeps things running smoothly. The shifts in shipyard availability and new orders show how carriers are strategically planning to stay ahead of the game. Have you seen a vessel recently that should probably head straight to the scrapheap? https://lnkd.in/g6ZBeW9K
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Ships ordered today would not be delivered until 2029, which puts vessel operators in a catch-22 situation. They must order vessels or fall behind their competitors, but they must also decide which fuel to use. This is the dilemma facing shipowners, who must decide today what their strategy will be in five years’ time.
Container lines fight for yard slots - Container News
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The container shipping sector is presently witnessing a significant surge in the arrival of new container vessels from Asian shipyards. The highlights include: - In March, there were 41 new vessels and 260,000 TEU (twenty-foot equivalent unit) of capacity delivered. - April surpassed this with 50 new ships and a remarkable 333,000 TEU delivered. - The April delivery alone outstripped the entire current fleet of the 12th largest liner company, Pacific International Lines (PIL). - Vessel diversions via the Cape of Good Hope and increased slow-steaming due to environmental regulations have artificially generated fresh demand for this new capacity. Despite the influx of new capacity, liner executives express confidence in achieving favorable financial results in the upcoming months. These developments indicate a period of rapid expansion in container shipping capacity, characterized by a substantial influx of new ships from Asian shipyards. While this could potentially raise concerns about overcapacity, ongoing factors such as vessel diversions and slow-steaming are currently assisting in absorbing the new tonnage. This, in turn, allows liner companies to maintain optimism regarding their financial performance in the near future. Check out the attached "Splash" article for an interesting read. Enjoy!
11,100 new slots a day: April smashes records for liner deliveries - Splash247
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According to Alphaliner, the global container fleet has achieved a milestone of 30 million TEUs, driven by significant deliveries from Asian shipyards. Braemar Shipbrokers noted robust demand with ongoing negotiations for new shipbuilding contracts extending into 2029 from major Chinese yards. BIMCO forecasts 478 container ships delivering 3.1 million TEUs in 2024, a 41% increase from 2023. Meanwhile, CMA CGM plans a $3.5 billion investment in 20 new ships from Hyundai Heavy Industries, including LNG-powered vessels totaling 256,000 TEU. Delivery is expected between 2027-2028, positioning CMA CGM to surpass Maersk as the world's second-largest liner with 5,034,564 TEU capacity.
CMA CGM Orders 20 More Vessels for $3.5 Billion, Set to Become World's Second Largest Liner Company
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𝐌𝐒𝐂 𝐬𝐭𝐫𝐢𝐤𝐞𝐬 𝟏𝟎-𝐬𝐡𝐢𝐩 𝐧𝐞𝐰𝐛𝐮𝐢𝐥𝐝 𝐝𝐞𝐚𝐥 𝐚𝐭 𝐇𝐞𝐧𝐠𝐥𝐢 𝐇𝐞𝐚𝐯𝐲 Gianluigi Aponte’s Mediterranean Shipping Co (MSC) has continued its newbuilding spree with a maiden order at Hengli Heavy Industry. The Swiss-based liner giant has signed up for a series of 10 LNG dual-fuelled containerships of 21,000 teu with deliveries likely in 2027. No value has been placed behind the deal, which could, according to the latest shipbuilding trends, top $2.5bn and follows a strategic cooperation framework agreement on a wide range of areas, including newbuilds, engine manufacturing, ship repair, and vessel retrofitting the duo inked in August. MSC, led by Soren Toft, has a fleet in excess of 6m teu, commanding a 20% share of the global operated container fleet. The world’s largest containerline has inked multiple large orders across Chinese shipyards this summer, and before the latest deal, the company’s massive orderbook stood at about 130 ships, which according to Alphaliner figures was projected to boost the fleet by an additional 1.8m slots in the coming years. In related boxship newbuild news, brokers suggest German liner Hapag Lloyd is lining up a series of 9,000 teu and 17,000 teu LNG dual-fuel vessels at yards in China with a letter of intent on the cards in the fourth quarter, while an unnamed Greek owner is in talks for 16,000 teu newbuilds in South Korea for delivery in 2027. As for the fast-growing shipbuilder, formerly known as STX Dalian, for which the MSC deal marks its first containership order, the yard has also recently reserved four VLCC newbuild slots for Hengli Group — the second supertanker order from its parent company — with deliveries set for 2026 and 2027.
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𝐌𝐒𝐂 𝐬𝐭𝐫𝐢𝐤𝐞𝐬 𝟏𝟎-𝐬𝐡𝐢𝐩 𝐧𝐞𝐰𝐛𝐮𝐢𝐥𝐝 𝐝𝐞𝐚𝐥 𝐚𝐭 𝐇𝐞𝐧𝐠𝐥𝐢 𝐇𝐞𝐚𝐯𝐲 Gianluigi Aponte’s Mediterranean Shipping Co (MSC) has continued its newbuilding spree with a maiden order at Hengli Heavy Industry. The Swiss-based liner giant has signed up for a series of 10 LNG dual-fuelled containerships of 21,000 teu with deliveries likely in 2027. No value has been placed behind the deal, which could, according to the latest shipbuilding trends, top $2.5bn and follows a strategic cooperation framework agreement on a wide range of areas, including newbuilds, engine manufacturing, ship repair, and vessel retrofitting the duo inked in August. MSC, led by Soren Toft, has a fleet in excess of 6m teu, commanding a 20% share of the global operated container fleet. The world’s largest containerline has inked multiple large orders across Chinese shipyards this summer, and before the latest deal, the company’s massive orderbook stood at about 130 ships, which according to Alphaliner figures was projected to boost the fleet by an additional 1.8m slots in the coming years. In related boxship newbuild news, brokers suggest German liner Hapag Lloyd is lining up a series of 9,000 teu and 17,000 teu LNG dual-fuel vessels at yards in China with a letter of intent on the cards in the fourth quarter, while an unnamed Greek owner is in talks for 16,000 teu newbuilds in South Korea for delivery in 2027. As for the fast-growing shipbuilder, formerly known as STX Dalian, for which the MSC deal marks its first containership order, the yard has also recently reserved four VLCC newbuild slots for Hengli Group — the second supertanker order from its parent company — with deliveries set for 2026 and 2027.
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As reported in the latest edition of The Loadstar; Houthi chief Abdul-Malik al-Houthi said there would be a stepping-up of operations in the Red Sea; and yesterday Maersk Line noted that the Red Sea Risk Zone has expanded, with attacks reaching further offshore. The knock-on effect of this situation has included bottlenecks and vessel bunching as well as delays and equipment and capacity shortages which has become a global issue. The diversion around the Cape of Good Hope requires 40% more fuel per ship and this will further increase costs in this region. If escalations continue, we could also see the “contingency surcharges increase”. In order to be ahead of the curve in this region, we need to be prepared for a possible rate increase in the coming months.
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The capacity of the global fleet of container vessels have grown from 5 million TEU in 2001 to now 30 million TEU. That is a factor of 6 - or 500% if you want it in percentages. At the same time the amount of TEU shipped in the same period has only grown by roughly a factor of 4 - or 300%. This shows quite clearly the very significant effect of longer sailing distances as well as a slow-down in vessel speeds. https://lnkd.in/dWs62TEg
Global liner fleet surpasses 30m teu for the first time - Splash247
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🚢🌊 Navigating the Waters: Key Terms in Oil Shipping 🌊🚢 The shipping industry, particularly the oil segment, has a unique lexicon that professionals need to master. Here are some of the most used terms in the oil shipping sector: ⚓VLCC (Very Large Crude Carrier): Tankers with a capacity between 200,000 and 320,000 DWT, primarily used for transporting crude oil on long-haul routes. ⚓Suezmax: Tankers with a capacity of around 120,000 to 200,000 DWT, designed to fit through the Suez Canal when fully laden. ⚓Aframax: Medium-sized tankers with a capacity of 80,000 to 120,000 DWT, often used for regional routes. ⚓Spot Charter: A single voyage charter agreement where a ship is hired to transport a specific cargo between two ports. ⚓Time Charter: A contract where a vessel is hired for a specific period, giving the charterer control over the vessel's commercial operations. ⚓Laytime: The period agreed upon for loading and unloading cargo without incurring additional charges. ⚓Demurrage: Charges payable to the shipowner if the charterer exceeds the agreed laytime. ⚓Freight Rate: The charge levied for the transportation of cargo, typically expressed in dollars per ton of oil. ⚓Ballast Voyage: The leg of a voyage where the tanker is empty, traveling to pick up the next cargo. ⚓Bunkering: The process of refueling a ship with fuel oil. Understanding these terms is crucial for navigating the complex and dynamic world of oil shipping. Whether you're a seasoned professional or new to the industry, staying informed is key to success. #Shipping #OilShipping #Maritime #Logistics #SupplyChain #VLCC #Suezmax #Aframax #SpotCharter #TimeCharter #Laytime #Demurrage #FreightRate #Bunkering
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