A graph released by shipping research firm Clarkson Research Services shows the record growth so far for mega-ship orders in 2015, with a number of other yards in Asia competing for their share of new-build contracts.
PTI previously reported that a whole host of shipping lines have placed their orders for new mega-ships, with the most recent being Maersk Line, who has ordered ten 20,000 TEU ships in a bid to boost its fleet capacity.
Container shipping line CMA CGM has also recently placed an order for three mega box-ships of 20,000 TEU.
According to the bar chart, Japan and The Philippines are leading the market with the most containership orders at 17% and 9%, respectively.
These percentages are based on container ship capacities of 17,500 TEU and higher, showing that the biggest spike in orders occurred in 2015.
The largest single capacity ship order to date was made by OOCL recently, who placed its order for six 21,000 TEU ships.
Concerns have since arisen relating to the funds available to the industry to continue with the volume of orders, with ship orders at risk of bankruptcy unless they act quickly to sell their assets.
This is exacerbated by the rise in fuel costs associated with the International Maritime Organization’s new 0.5% sulphur rule.
Half a trillion dollars in additional fuel costs are anticipated to affect the shipping industry over the next 10 years.
See below for the graph:
(Source: Clarkson Research Services)