Core Viewpoint - The global container ship order backlog has reached an unprecedented level of approximately 11.3 million TEU, with 1,165 standard container ships currently under construction, and delivery schedules extending to as late as 2030 [1][3]. Group 1: Order Backlog and Delivery - The order delivery period is longer than ever, with some vessels scheduled for delivery more than four years from now [1]. - In 2025, the total new orders from global container shipping companies and independent shipowners amounted to 4.15 million TEU, resulting in a net increase of 1.94 million TEU after accounting for 2.21 million TEU delivered that year [3]. - Four major shipping companies have order backlogs exceeding 1 million TEU: MSC (2.05 million TEU), CMA CGM (1.88 million TEU), Cosco Group (1.37 million TEU), and Maersk (1.05 million TEU) [3]. Group 2: Non-Operating Owners and Fleet Management - Among non-operating shipowners, Seaspan (680,000 TEU / 55 vessels), EPS (380,000 TEU / 51 vessels), and Capital (80,000 TEU / 35 vessels) have the largest order volumes [5]. - In terms of owned/internal managed capacity, MSC leads with 650,000 TEU across 51 vessels, followed by CMA CGM (480,000 TEU / 22 vessels), Evergreen (450,000 TEU / 21 vessels), Maersk (180,000 TEU / 11 vessels), and ONE (150,000 TEU / 11 vessels) [5]. Group 3: Market Trends and Future Outlook - The first quarter of 2025 saw steady ordering activity (990,000 TEU / 82 vessels), which strengthened in the second quarter (1.05 million TEU / 128 vessels) and peaked in the third quarter (1.28 million TEU / 195 vessels), before slightly declining in the fourth quarter (820,000 TEU / 102 vessels) [6]. - Despite the large order backlog, there are indications that container ship ordering activity will slow down in 2026 due to shipyard capacity nearing saturation, record newbuilding prices, and rising concerns about structural overcapacity in the market [5].