Newbuilding
A ship ordered new from a shipyard, and the forward orderbook of such vessels that signals future fleet supply.
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How it works
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.
Where it shows up on The Maritime
Also known as: newbuild, new building, NB.
Related terms
Sale & Purchase (S&P)
The secondhand market for trading existing ships, and the desk that brokers those transactions.
Demolition
The sale of a ship at the end of her life for recycling, priced per light displacement tonne (LDT).
Automated Valuation Model (AVM)
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.
More markets and pricing terms
A 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: .