
Newbuild deliveries set against ship recycling, by segment — the forward order book that shapes the freight supply cycle.
The forward order book adds +14.1% to today’s fleet, front-loaded on 2027 (77.6 Mt of scheduled deliveries). Deliveries fall away after 2028 — the order horizon thinning, not a scheduled contraction.
Scheduled deliveries — the delivery-only years — as a share of each segment's own trading fleet. The whole cross-segment spread in one shape, before drilling into any single segment below.
Set against each segment’s own fleet, the forward order book runs from 68.4% for tankers and 35.9% for gas carriers down to 0.1% for container ships. That ordering reverses the settled record: across the ten years where both deliveries and recycling are on the books, bulkers posted a positive net change in all ten and tankers a negative one in seven (the last in 2023) — yet it is tankers, not bulkers, that now hold the heaviest forward book of any segment relative to fleet.
The amber bar is the largest forward book relative to fleet — the most tonnage due against a segment's current size, and so the sharpest supply pressure to watch. A share is not a schedule: these are ordered hulls, not certain deliveries.
Forward order book
193 Mt
vs today’s fleet
+14.1%
Trading fleet
1374 Mt
Recycled to date
283 Mt
Deadweight entering the fleet (newbuild deliveries, above the line) against deadweight leaving it (recycling, below the line), by calendar year. The line is the net change as a percentage of today's trading fleet. Future years show scheduled deliveries; recent years show actual scrapping.
Past-year deliveries are reconstructed from the registered fleet (a vessel built in a year is a delivery in that year) — survivor-based, so a conservative under-count. Future years show the forward order book only (no future scrap book exists), and registry-lagged recent years may read scrapping-only. The net-change line is drawn only across years where BOTH sides carry data; one-sided years keep their bars but no line point. Recycled deadweight is estimated from recycler-reported light-displacement tonnage; delivered deadweight is the registered figure.
Every cell behind the chart. Delivered deadweight is the real announced figure; recycled deadweight is estimated from light-displacement tonnage (the unit a recycler buys) via a published per-segment factor.
| Year | Deliveries | Delivered DWT | Scrapped | Recycled DWT (est.) | Net change | % of fleet |
|---|---|---|---|---|---|---|
| 2007one-sided | — | — | 43 | — | 0.0 Mt | 0.00% |
| 2008one-sided | — | — | 33 | 2.5 Mt | -2.5 Mt | -0.18% |
| 2010one-sided | — | — | 2 | — | 0.0 Mt | 0.00% |
| 2011one-sided | — | — | 7 | 0.0 Mt | -0.0 Mt | -0.00% |
| 2012one-sided | — | — | 9 | — | 0.0 Mt | 0.00% |
| 2014 | 1,073 | 57.8 Mt | 245 | 10.7 Mt | +47.1 Mt | +3.43% |
| 2015 | 1,091 | 59.9 Mt | 484 | 26.2 Mt | +33.7 Mt | +2.46% |
| 2016 | 1,000 | 58.5 Mt | 773 | 43.6 Mt | +14.9 Mt | +1.09% |
| 2017 | 839 | 51.7 Mt | 690 | 35.6 Mt | +16.0 Mt | +1.17% |
| 2018 | 646 | 39.5 Mt | 594 | 37.6 Mt | +1.9 Mt | +0.14% |
| 2019 | 800 | 51.8 Mt | 401 | 20.2 Mt | +31.6 Mt | +2.30% |
| 2020 | 779 | 57.9 Mt | 475 | 27.0 Mt | +30.9 Mt | +2.25% |
| 2021 | 719 | 44.8 Mt | 466 | 28.1 Mt | +16.7 Mt | +1.22% |
| 2022 | 668 | 36.3 Mt | 249 | 14.7 Mt | +21.6 Mt | +1.57% |
| 2023 | 508 | 28.9 Mt | 423 | 15.2 Mt | +13.7 Mt | +1.00% |
| 2024one-sided | — | — | 329 | 9.6 Mt | -9.6 Mt | -0.70% |
| 2025one-sided | — | — | 268 | 12.0 Mt | -12.0 Mt | -0.88% |
| 2026one-sided | 28 | 2.8 Mt | — | — | +2.8 Mt | +0.21% |
| 2027one-sided | 741 | 77.6 Mt | — | — | +77.6 Mt | +5.65% |
| 2028one-sided | 562 | 77.1 Mt | — | — | +77.1 Mt | +5.62% |
| 2029one-sided5 imputed | 206 | 31.6 Mt | — | — | +31.6 Mt | +2.30% |
| 2030one-sided1 imputed | 21 | 3.5 Mt | — | — | +3.5 Mt | +0.26% |
| 2031one-sided | 2 | 0.4 Mt | — | — | +0.4 Mt | +0.03% |