The containership orderbook has reached a record high of 10.4m TEU, following the flurry of new ship orders placed in the last 12 months, with the orderbook ratio rising to 31.7% of the fleet - its highest levels since 2010. The last time the orderbook ratio exceeded this level in 2004-2009, it ended in a decade-long supply overhang that took 10 years to clear. There is still over 1m TEU of pending ship orders that are due to be added before the end of this year.