"By the end of the first quarter of 2026, the global shipping order book hit a 17-year high, reaching 191m Compensated Gross Tonnes (CGT). This is equivalent to 17% of the global
"By the end of the first quarter of 2026, the global shipping order book hit a 17-year high, reaching 191m Compensated Gross Tonnes (CGT). This is equivalent to 17% of the global fleet, the highest ratio since 2011. The order book has been boosted by higher newbuilding contracting throughout the 2020s and most recently by the highest quarterly crude tanker contracting in history,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.
During the first quarter of 2026, newbuilding contracting has risen 40% y/y to 17.6m Compensated Gross Tonnes (CGT), driven by a tripling of new tanker orders and a rebound in LNG tanker contracting. Overall, tankers have accounted for 32% of total contracting, the highest share since the second quarter of 2017. Despite this significant yearly increase, newbuilding contracting has decreased 17% q/q, amid an easing in dry bulk orders. Bulker contracting spiked during the last quarter of 2025, largely due to increased orders for capesize vessels.
“So far during the 2020s, newbuilding contracting has been 47% higher than the average during the 2010s, driven by stronger market conditions in the larger sectors, an overall larger fleet and an increased need for fleet renewal. This has contributed to an increase
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