HONG KONG's Seaspan Corporation is leading the rise of new orders in container shipping, after being outpaced by the old order comprising German Shipping powerhouses that expanded on the back of KG finance, reports Oslo's Trade Winds.
The top tonnage providers in October 2011 comprised German companies led by Hamburg-based Offen Group with 100 ships of 532,000 TEU in total.
Peter Dohle Schiffahrts with 99 ships of 350,000 TEU was closely tied with Seaspan in second and third place with a fleet of the same size in TEU.
These were closely followed by other German companies including NSB Niederelbe and Norddeutsche Reederei H Schuldt.
Still, Seaspan was out in front in terms of the number of ships it had on order.
The balance of Seaspan's 65-strong fleet on order in October 2011 was equal to 41 per cent of its fleet on the water, the highest of any owner at the time.
Today, Seaspan is setting a similar course with its order book amounting to 65 per cent of its existing fleet.
Offen Group is now the only German owner in the top five tonnage providers, but with no newbuilding orders, it looks set to be surpassed by others in the coming years.
Including companies such as Singapore-based Eastern Pacific Shipping, which has 324,000 TEU on order, enough to push it over 500,000 TEU in terms of total capacity on delivery.
Greek owner Danaos Shipping has risen to the sixth position with 65 ships with a total capacity of 402,000 TEU, up from ninth a decade ago.
Seaspan's rise reflects the end of German domination in the containership charter market with hundreds of vessels sold by German banks in the ongoing boxship boom.
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