Global Shipbuilding Orderbook Surpasses 2008 Record

The global shipbuilding orderbook surpassed the record set in September 2008 this October. Shipyards could also exceed the previous production peak next year.

Orderbook valued at approximately $700 billion

According to Clarksons Research figures reported by Splash247, the global orderbook reached 226.1 million compensated gross tonnes (cgt). The previous record stood at 225.5 million cgt.

The vessels on order are worth approximately $700 billion. The backlog has grown by 24% over the past year and has tripled since 2020.

Shipyards could deliver 64 million cgt in 2027. That would be 24% above estimated 2026 output and 18% higher than the previous record of 55 million cgt, set in 2010. Production could rise further to 72 million cgt in 2028.

Vessel mix has changed

The current orderbook is equivalent to 25% of the existing global fleet by gross tonnage. In 2008, the corresponding figure was 53%.

Containerships account for 31% of the orderbook by cgt, gas carriers for 15%, and bulk carriers for 17%. Their respective shares in 2008 were approximately 16%, 5%, and 31%.

Alternative-fuel-capable vessels represent 43% of the backlog, compared with 2% in 2008.

China controls 68% of the orderbook

Chinese shipyards hold 68% of the global orderbook, twice their share in 2008. They also account for 60% of global shipbuilding output in 2026.