Maersk orders 26 LNG dual-fuel container ships for 2029-30 delivery

The Danish carrier said the ships are part of its "ongoing fleet renewal programme" and declined to name the shipyards or the contract value. The Loadstar reported the order was split between two Chinese yards, with Hengli HI building 20 and New Times the remaining six. Maersk ordered eight 18,600 teu ships of the same class at New Times in February 2026, also for 2029-30 delivery.

The Loadstar reported that the order lifted Maersk's own orderbook-to-fleet ratio to 29%. The 26 ships add 483,600 teu, equivalent to roughly 10% of Maersk's operating fleet, according to gCaptain. CMA CGM's ratio is 45%, MSC's 41%, COSCO's 52%, Evergreen's 50% and ONE's 35%.

Orderbook ratio hits post-2009 high

Linerlytica said the global orderbook-to-fleet ratio rose above 45% after Maersk's order and CMA CGM's separate deal for 12 ships of 24,000 teu, the highest since late 2008. Ships on order now total 1,925 units and 15.6m teu, more than twice the post-COVID peak of 7.6m teu in August 2023.

Maersk ranks second by capacity. Alphaliner data cited by Chosun put its fleet at 752 ships and 4.74m teu, a 13.8% share, behind MSC on 7.42m teu and 21.6%, with CMA CGM on 4.4m teu and 12.8%. CMA CGM has said it will overtake Maersk as the world's second-largest carrier next year.

Smaller ships, LNG fuel

The new vessels are 366 metres long and 58.6 metres wide, smaller than the 24,000 teu ships competitors are building. Maersk has so far not ordered that class. Its largest existing vessels, the Triple E class introduced between 2013 and 2019, range from 18,270 to 20,568 teu.

"Deployment flexibility has been a key factor in our decision-making," said Anda Cristescu, Maersk's head of chartering and newbuilding, when the February order was announced. She said the ships offer more deployment options than the largest vessels currently being built.

The order marks a shift from Maersk's earlier focus on green methanol. A Lloyd's Register study cited by gCaptain found LNG bunkering available at 222 ports worldwide, against 25 for methanol. Maersk has said the energy transition will need multiple fuel pathways.

Maersk has said the renewal plan is intended largely to replace older tonnage rather than expand capacity. In 2024 it ordered 20 dual-fuel vessels totalling about 300,000 teu.

Congestion absorbs capacity now

The order will not ease near-term capacity constraints. About 8.5% of the global container fleet, roughly 3m teu, was tied up at Asian ports, according to figures reported by The Loadstar and cited by Automotive Logistics. That is about six times the capacity of Maersk's order.

Global schedule reliability fell below 50% in August, the lowest since September 2022, with delayed vessels arriving 6.8 days late on average, the same report said. "An order of this size sounds like more capacity is on its way, but for anyone placing orders with suppliers in Asia this winter, it changes nothing for the next few years," said Hayley Hedley, group commercial director at Cleveland Group.

Maersk said a severe typhoon season in Asia absorbed a sizeable amount of vessel capacity. Global average port waiting times peaked at 16.6 hours, the highest since January 2023, and average spot rates on the Shanghai Containerised Freight Index rose 46% in the third quarter against the previous quarter.

Next order stuck on price

Riviera reported that pricing talks have delayed Maersk's programme for more than 20 ships above 20,000 teu. Hudong-Zhonghua was previously the frontrunner but is reconsidering because the prices quoted are unattractive to the yard, according to shipbroking and market sources cited by Riviera. Hengli has emerged as a possible candidate.

Maersk told Riviera it could not comment on market rumours.