The global shipping industry is facing significant challenges due to the ageing fleet, particularly in specific segments. Bulkers, which represent the majority of vessels trading internationally with over 14,300 ships, show a strong trend of renewal. Approximately 71% of these vessels are 15 years old or younger, while 29% belong to an older generation.
The current fleet, which totals 1,046 million deadweight tons (DWT), is set to expand by about 107 million tons as 1,335 new ships are scheduled for delivery. The deliveries are spread out, with 387 arriving in 2025, 529 in 2026, and 419 from 2027 onwards. This suggests that vessel owners are opting for a cautious approach in replacing their ageing units.
In the tanker segment, the scenario is slightly different. With around 7,800 ships, the fleet is nearly evenly split between younger and older vessels. About 53% of tankers are under 16 years old, while 47% have surpassed that age.
There are nearly 1,200 newbuilds on order, constituting 15% of the active fleet, which represents an additional 102 million DWT. The timing of these deliveries, with 269 expected this year and nearly 1,200 more by 2027, will be crucial in balancing the phasing out of obsolete units with added capacity. Container lines are also exhibiting a strong demand for updated, eco-friendly vessels.
With 47% of the 6,877 boxships in service exceeding 15 years, the orderbook includes 837 new vessels, representing 12% of the total number but almost 29% of fleet capacity. This development aligns with the need to meet tighter emissions regulations and changing trade dynamics. In contrast, specialized LNG tonnage is among the youngest segments of the fleet, with 69% of its 824 vessels under 16 years old.
The orderbook indicates a bullish outlook, with 343 carriers on order, which accounts for 42% of the existing fleet capacity. With planned deliveries, the LNG sector is prepared for significant expansion. Overall, fleet renewal is in progress but varies across the different shipping segments.
Operators and financiers will need to closely monitor orderbook commitments, scrapping rates, and freight rate trends to ensure that the influx of new vessels leads to a balanced market instead of a potential capacity surplus.