Maritime Industry Briefing: Containership Orderbook Nears 40%, Tanker Sales and Offshore Activity Pick Up

## Containership Orderbook Approaches 40% of Fleet The containership orderbook-to-fleet ratio has climbed to a new post-2010 high of 39%, according to data from consultancy Linerlytica. The total order backlog now stands at 1,630 vessels representing 13.28 million TEU. Linerlytica notes continued firm ordering activity across both mid-size and larger vessel segments, raising questions among analysts about future supply-side pressure on freight rates as newbuildings are delivered over the coming years. The surge in ordering reflects sustained shipper demand and carrier confidence, though the scale of the backlog is drawing increasing scrutiny from market observers concerned about potential overcapacity. ## Sincere Navigation Divests Second VLCC of 2025 Taiwanese owner Sincere Navigation has sold its second very large crude carrier (VLCC) this year to South Korean operator Sinokor, according to Splash247 sources. The deal leaves Sincere Navigation with just one VLCC remaining in its fleet. The transaction comes during a relatively quiet period for tanker sale-and-purchase activity, with many industry participants attending the Posidonia conference in Athens. Despite the lull in broader deal-making, brokers in the Far East have remained active in facilitating transactions. ## Van Hui Shipping Makes Capesize Debut Shanghai-based Van Hui Shipping has entered the capesize dry bulk segment with the acquisition of the 181,000 dwt bulker Ehime Queen from Japanese owner Nissen Kaiun. The Imabari-built vessel, now 10 years old, attracted multiple offers, with initial market reports placing the deal in the $55 million to $57.5 million range. Splash247 sources have since confirmed the final price was fixed at $57.5 million. The purchase marks a significant strategic expansion for Van Hui Shipping into the larger dry bulk sector. ## BP Awards Noble Corporation UK Drilling Contract Offshore drilling contractor Noble Corporation has secured a three-well drilling contract with BP for operations offshore the United Kingdom. The contract will utilise the 2016-built semisubmersible Noble GreatWhite and carries an estimated duration of 150 to 210 days at a dayrate of $320,000 per day. The award underscores continued investment in North Sea exploration and production activity, and represents a meaningful contract win for Noble in a competitive offshore drilling market. ## Mermaid Maritime and DS Global Form DSV Joint Venture Thai offshore specialist Mermaid Maritime has established a Singapore-based joint venture with DS Global Offshore Engineering to reactivate and commercialise a laid-up dive support vessel (DSV). The newly formed entity, DS Mermaid, will serve as the investment and operating vehicle for the vessel's reactivation and subsequent commercial deployment. The partnership reflects growing demand for offshore support capacity as subsea activity recovers, and highlights the trend of operators reviving stacked assets to meet market needs without committing to newbuild expenditure. --- *Sources: Splash247, Linerlytica*