Order book

The order book is the total tonnage on order at shipyards but not yet delivered, tracked by segment and expressed as a percentage of the existing fleet. It is the forward supply signal in shipping markets: a high order book to fleet ratio warns of coming oversupply and weaker freight, while a thin order book supports rates as the fleet ages. Brokers and analysts watch it alongside scrapping and deliveries to model net fleet growth. By segment it is reported for tankers, bulkers, containerships, and gas carriers, with delivery slots booked years out at the major yards.