The containership orderbook has reached a record high of 13m teu, according to consultancy Linerlytica which is warning of looming overcapacity. Ships on order are now greater than the combined extant fleets of Maersk, CMA CGM and COSCO. The orderbook ratio at 38.3%  is at highs not seen since the global financial crisis nearly 20 years ago.

Total new ship orders in the first four months of 2026 have already exceeded 1.9m teu with Linerlytica suggesting they are on track to beat the 2025 full year record high of 5.1m teu of new orders contracted in a single year.

The bulk of the new deliveries are scheduled in 2028 where firmed orders have already reached 5.2m teu.

“Carriers remain locked in the incessant fight for market share,” Linerlytica said in its latest weekly report, describing the ongoing ordering binge as “unrestrained”.

“Overcapacity will soon catch up with the market with over 5m teu scheduled to be delivered in 2028 alone,” Linerlytica predicted. 

The Drewry World Container Index (WCI) declined for the third consecutive week last Thursday, easing 1% to $2,216 per feu, due to softer rates on Asia–Europe, transpacific and transatlantic trade routes. 

“Despite elevated fuel costs and ongoing geopolitical risks, rates remain under sustained downward pressure due to excess capacity and low demand,” Drewry warned. 

The latest retreat comes as broader demand indicators soften. US consumer confidence fell to its lowest level on record in April 2026, according to the University of Michigan, signalling weaker import demand ahead.