The global container ship orderbook is on the brink of reaching 10 million TEUs for the first time.

Sector specialist Alphaliner reports tally currently stands at 9.95 million TEUs, with any significant newbuilding contract expected to push it across the milestone.

The pipeline has already exceeded its previous highs of 7.12 million TEUs, recorded in June 2008, and 7.19 million TEUs in July 2022.

After a brief slowdown in container ship ordering in early 2024, activity has picked up again.

“Since mid-2024, carriers and non-operating owners have contracted close to 600 additional newbuildings,” Alphaliner said.

The orderbook-to-fleet ratio now stands at 30.4%.

The surge in ordering is being fuelled by strong cash reserves, high charter rates, and the need to replace ageing tonnage, particularly in the mid-sized segment

Decarbonisation pressures are also a key factor, as owners look to secure more fuel-efficient, alternative-fuel capable ships.

Unlike earlier cycles, today’s orderbook stretches further into the future, with deliveries scheduled through to 2030. Within the next 36 months alone, 755 ships totalling 7.01 million TEUs are due to enter service.