Container Ship Orders Surge as Global Book Nears 10M TEU

Ocean Network Express (ONE) and Hapag-Lloyd are reportedly close to sealing major shipbuilding deals in Asia, according to the latest update from Alphaliner. These developments come as the global orderbook for container vessels edges toward an unprecedented 10 million TEU.

ONE, headquartered in Singapore and backed by Japanese interests, is currently negotiating with HD Hyundai in South Korea. The discussions involve a potential order for as many as twelve container ships, each with a capacity of 16,000 TEU. This deal is expected to carry a price tag of approximately $2.6 billion.

Meanwhile, Hapag-Lloyd is exploring similar orders with several shipyards. The German carrier is said to be considering an order of up to twelve vessels in the 12,000 to 13,000 TEU range, along with eight ships of 16,000 TEU capacity.

Alphaliner notes that Hapag-Lloyd has expressed concern over the pricing proposals from South Korea’s major shipbuilders, describing them as “outrageous.” This reaction follows recent developments in the United States, where higher port fees are being proposed for vessels with Chinese affiliations.

Despite the already record-high number of ships on order, the demand for large container vessels remains robust. Alphaliner’s report observes: “Despite a record-breaking vessel orderbook that is creeping up to 10.0 Mteu, third-party owners and carriers alike are still eager to extend their newbuilding pipeline.”

The continued appetite for megamax vessels, particularly those with 24,000 TEU capacity, underscores the industry's ongoing push to expand fleet size and efficiency, even in a highly competitive and uncertain global market.