LNG & Container Ship Orders Push Delivery Dates into 2029

A ship being built in a shipyard
Updated Published

Orders for LNG carriers and container ships continue to dominate the order books at Asian shipyards. Brokers report a significant increase in boxship orders, pushing delivery dates into 2029.

“There are an enormous amount of newbuilding negotiations ongoing, predominantly driven by operators but also a few non-operating owners signing LOIs to try and secure berths at yards already fairly close to capacity,” noted broker Braemar in its latest container markets summary.

CMA CGM has placed an order for six 8,000 TEU LNG dual-fuel ships at Samsung Heavy Industries and is also negotiating for up to twelve 15,000 TEU vessels at the same yard, according to Braemar.

MB Shipbrokers reports that Chinese shipyards Jiangnan and Hudong are in discussions with several buyers for vessels in the 13,000 to 14,000 TEU range, with delivery dates extending into 2029.

“The container newbuilding run is set to continue through June and we anticipate a string of orders will materialise during the summer,” the Danish broker stated.

The global shipyard orderbook currently stands at 133 million compensated gross tonnes (cgt), an increase of 56 million cgt compared to its most recent low in late 2020, according to the shipping organization BIMCO. LNG carriers and containerships have contributed to 35% and 30% of this increase, respectively.

The number of LNG newbuilding orders has more than doubled compared to the same period last year, with 34 orders placed in early 2023 and 78 in the first five months of 2024, reflecting a 129% increase, according to recent analysis from VesselsValue.