How worried should you be about the orderbook?

Shipping order books look alarming on paper but are cushioned by rerouting, aging fleets, and limited yard capacity, per Lloyd's List analysis.

• Container order book 40%+: ~1,800 ships / ~14M TEU on order (40%+ of fleet), but deliveries peak in 2028, slower steaming and Cape rerouting absorb capacity, and little recycling has occurred for years; Willmington scores worry at 6/10.
• Tanker ordering returns: After near-dead ordering four years ago, VLCC order book is ~30-33% of deadweight, Aframax/LR2 ~20%; aging fleet and shadow-fleet absorption of 20-year-old ships ease the concern — scored 5/10.

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