Newbuilding
A ship ordered new from a shipyard — and the forward orderbook of such vessels that signals future fleet supply.
A newbuilding is a vessel contracted to be built at a shipyard, typically delivered two to three years after order. The collective orderbook — all ships on order — is the clearest forward indicator of future fleet supply by segment.
A high orderbook-to-fleet ratio warns of incoming capacity that can depress rates when the ships deliver; a thin orderbook points to tightening supply. Newbuilding prices also set the long-run ceiling on secondhand values.
On The Maritime
Also known as: newbuild, new building, NB.
Related terms
Sale & PurchaseS&P
The secondhand market for trading existing ships — and the desk that brokers those transactions.
Demolition
Selling a ship at the end of her life for recycling, priced per light displacement tonne (LDT).
Automated Valuation ModelAVM
A model that estimates a ship’s market value from recent sales of comparable vessels.
Orderbook
The total tonnage on order at shipyards but not yet delivered — the pipeline of future fleet supply.
Plain-English reference definition — our own explanation of a standard shipping concept, not a licensed source or legal advice. See the full glossary or the broader maritime dictionary.
Last reviewed: June 2026.