Newbuilding Orders Smash Records as Spending Tops $177Bn

Shipping is reliving the 2007 newbuilding boom this year, with contracting climbing to record levels and tankers emerging as the undisputed leader, according to shipbroker Clarksons. Firm orders between January and August stood at 2,128 vessels, running at a pace similar to the record levels of 2007 and double the 10-year average. Investment has reached around 177.2 billion dollars so far this year, up 31 percent year on year, with Chinese shipbuilders securing around 75 percent of orders.

 

The Record Contracting

 

Newbuilding orders have reached historic levels. Clarksons said 2026 is on track for records. Firm orders totalled 2,128 vessels. This covered January to August. It ran at a pace similar to 2007.

The volume is exceptionally high. It is double the 10-year average. Strong demand reflects positive market conditions. Fleet renewal requirements also support it. Appetite is firm across major segments.

 

The Record Spending

 

Investment has also hit exceptional levels. Around 177.2 billion dollars was invested. This covers newbuildings so far this year. It is up 31 percent year on year. It is on track to match the 2007 record.

Several factors drove this spending. Firm contract volumes supported it. Rising newbuild prices also contributed. Together these pushed spending higher. This reflects the broad strength of demand.

 

The Tanker Boom

 

Tankers are leading the ordering surge. Clarksons reported 646 tankers contracted. This covered January to August. It makes 2026 the strongest in two decades. This dominance is notable.

Crude tankers particularly stand out. Some 272 crude tankers were ordered. This is the highest volume since 1973. Product tanker demand also remained firm. Chemical tankers saw orders too.

 

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The Bulk and Container Segments

 

Bulk carrier activity remains elevated. Clarksons recorded 403 bulk carrier orders. This is 44 percent above the average. It reflects strong demand in the segment. The bulker market remains active.

Containership contracting is also strong. It matches the record 2024-2025 pace. Some 537 vessels were ordered. The focus was on smaller tonnage. This covered vessels below 8,000 TEU.

 

The Gas Carrier Markets

 

Gas carriers saw strong ordering too. Clarksons counted 104 LPG carriers. This is 14 percent above the 2024 record pace. Demand in this segment remained robust. The gas market showed clear strength.

LNG carriers also performed well. Some 69 LNG carriers were ordered. This marked the strongest period since 2022. That was a record year for the segment. This reflects sustained gas carrier demand.

 

The Shipbuilder Landscape

 

Chinese shipbuilders dominate the market. They secured around 75 percent of orders. This is measured in capacity terms. Their share is even higher in some segments. This includes containers and bulk carriers.

South Korean builders follow behind. They hold a 15 percent overall share. However, they lead in gas carriers. This covers LPG and LNG carriers. This reflects their specialism in these segments.