According to TradeWinds, Maersk is preparing to place an order for up to 12 large LNG dual-fuel container ships with China’s New Times Shipbuilding, a privately owned yard. The potential deal, valued at approximately $2.3 billion, covers eight firm ships and four optional units, bringing the cost per vessel to around $192 million.
Market rumors suggest that Maersk may increase the design capacity of this series from 21,000 TEU to 22,000 TEU. The move is consistent with Maersk’s previous indication that it expects to finalize the contract by the end of the year.
Before leaning toward New Times Shipbuilding, Maersk had reportedly held discussions with several major shipbuilders in China and South Korea. After months of negotiations, the Danish carrier is understood to have favored New Times due to more competitive pricing—about $20 million lower per ship than South Korean offers.
This prospective order is part of Maersk’s ongoing fleet renewal program, under which the company has already signed 60 newbuilding and charter contracts, comprising 50 firm orders and 10 options.
Maersk and New Times Shipbuilding have previously worked together. Last December, Maersk announced plans for 20 dual-fuel container ships across Chinese and South Korean yards, including six 15,000 TEU LNG dual-fuel ships from New Times Shipbuilding, scheduled for delivery beginning 2028. That project represented both Maersk’s first LNG dual-fuel order and New Times Shipbuilding’s initial participation in the company’s LNG-fueled newbuilding program.
New Times Shipbuilding, which has been active mainly in the tanker sector this year, has publicly announced nearly 20 tanker orders. If the Maersk deal is finalized, it would mark the company’s first publicly disclosed container ship contract this year.
As one of China’s leading private shipyards, New Times Shipbuilding operates dry docks with capacities of 500,000 t, 300,000 t, and 100,000 t, and builds bulk carriers, tankers, container ships, and chemical tankers. The shipyard is investing RMB 5 billion in a capacity expansion project covering 900 mu (approximately 60 hectares), which includes a new 700 m dry dock. Once completed, the company will operate four dry docks in total.
Despite a slowdown in the global shipbuilding market, demand for container ships remains stable, with major carriers continuing to order new vessels. This year, MSC, CMA CGM, Evergreen Marine, and HMM have all placed new orders. Evergreen Marine ordered 14 container ships of 14,000 TEU, HMM ordered 12 of 13,000 TEU, Seaspan Corporation ordered two 11,800 TEU ships, and KMTC ordered two 13,000 TEU units.
Among these, MSC stands out with more than 20 ultra-large container ships ordered so far this year—all secured by Chinese shipyards, including Waigaoqiao Shipbuilding, Hengli Heavy Industries, Zhoushan Changhong International, China Merchants Heavy Industries Haimen, and China Merchants Industry Qingdao.
Source: TradeWinds (November 2025)
